Xstate Resources Limited (ASX:XST) acquired 25% stake in Crest Jinn Assets in Northern Alberta, Canada for CAD 0.75 million in February 2023. The acquisition included:a) 2 oil discovery wells that had been drilled, completed and recovered oil, which were planned for imminent equipping and commencement of production activities; b) 10,240 gross acres of unencumbered crown land with no rehabilitation liabilities beyond the existing two wells noted in a) above; c) 10 Keg River Formation prospects mapped within the acreage that displayed similar technical characteristics to the existing discovers and fields in the reion. d) Prospects that had been identified on a 30km2 3D seismic survey that was acquired in 2002.

Xstate Resources Limited (ASX:XST) completed the acquisition of 25% stake in Crest Jinn Assets in Northern Alberta, Canada in February 2023.