Ann: September 2023 Quarterly Activities and Cash Flow Report, page-21

HIGHLIGHTS
• Total production net to Xstate from Canadian assets (before Royalty) of
17,368 barrels of oil
• Xstate completes divestment transaction of Alberta Plains assets for C$1.575m
• Anshof-3 producing consistently with a total of 1,884 bbl net to Xstate produced
during the quarter
Xstate Resources Limited (ASX:XST) (Xstate, XST or the Company) is pleased to provide the Quarterly
Activities Report for the quarter ending 30 September 2023.
CHAIRMAN’S COMMENT
“Cashflow for the quarter was boosted with the completion of our Alberta Plains Assets divestment
transaction. At the end of the quarter, the Company has A$1.225m cash for utilisation in future
opportunities of the Company. The remaining assets within Xstate’s portfolio continue to operate
effectively for the Company.”
CANADA: RED EARTH (25% WI)