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XSTATE RESOURCES LIMITED — Capital/Financing Update 2019
Apr 23, 2019
66107_rns_2019-04-23_09485a85-3d0b-442d-8dea-028ec97c5fc4.pdf
Capital/Financing Update
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ABN 96 009 217 154
Electronic lodgement
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24 April 2019
ASX Limited
Singapore Legal Update
Comments
Xstate Resources Limited (ASX: XST) (“ Xstate ” or “ the Company ”) provides the following update in relation to its Forbearance to Sue Agreement (the “ Agreement ”) with Hong Hung Thiam (“ Hong ”).
Xstate confirms it has received the fourth instalment from Hong in accordance with the Agreement.
Hong has now paid Xstate the combined sum of A$400,000.
The remaining amount of A$100,000* is payable by mid-May 2019.
The Company will keep the market fully informed of any further changes.
- AUD value of final Agreement payment is subject to changes in SGD-AUD exchange rate.
For and on behalf of the Board of Xstate Resources Limited
For further details please contact:
Cosimo Damiano
Managing Director Xstate Resources Limited Tel Office: +61 8 9435 3200 Email: [email protected]
About Xstate Resources Limited
Xstate Resources (ASX Code: XST) is an ASX listed company focused on the oil and gas sector. The Company has existing gas exploration assets located in the Sacramento Basin, California and associated gas production. Xstate is presently pursuing new opportunities in the oil and gas sector onshore North America.
Level 1, 31 Cliff Street, Fremantle WA 6160 | Tel + 61 8 9435 3200 | Fax +61 8 6444 7408 | www.xstate.com.au