this gas exploration prospect is a side show alright, it has potential if the partners can get things together, but there is the usual statement from them about things being in advanced stages... which i have been reading for a good few years from them..
up till now SGC has been trading whilst insolvent. with no cash in the till for a long time.. if they spend the capital on what they claim they will, then imho a possibility of a dempsey well being drilled will eventuate..
of interest to me is not the sideshow, but really the main event..
undergoing a transition from a pure explorer into a company that provides investors with a portfolio of risk-managed production, development and exploration opportunities onshore, U.S.A. The strategy is targeting low risk exploitation assets that provide investors with a balanced portfolio of projects in proven hydrocarbon basins whilst also increasing exploration exposure in the longer term.
In the near term Xstate is pursuing production acquisition opportunities with top tier operating netbacks and infrastructure facilities to fast track future production growth.
Our main focus is on oil and gas fields onshore California in prolific hydrocarbon basins, fields with large oil in place, development drilling and an experienced operating team.
XST Price at posting:
1.3¢ Sentiment: Buy Disclosure: Held
