Diona-1 Gas Discovery - Operations Update
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| Stock | Xstate Resources Ltd (XST.ASX) |
|---|---|
| Release Time | 28 May 2026, 8:18 a.m. |
| Price Sensitive | Yes |
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Xstate Resources Updates Diona-1 Gas Discovery
Key Points
- Diona-1 well is a gas discovery in the Surat-Bowen basin
- Completion fluid column hampers gas flow
- Joint Venture meeting to expedite fluid removal
- Xstate confident in well's long-term production potential
Full Summary
Xstate Resources Limited (ASX:XST) has reported an update on the Diona-1 well, confirming it as a gas discovery in the Surat-Bowen basin of South West Queensland. The well has been flowing gas consistently during production testing, but the presence of a large column of completion fluids has impeded gas flow. The Joint Venture Technical Committee will convene to discuss and implement a solution to expedite the removal of these completion fluids. Xstate remains confident that once the fluids are removed, the well will flow at rates suitable for long-term production testing.
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