XST Joint Venture secures new Taroom Trough acreage

• Xstate wins preferred tenderer status for Block 7
• Located on eastern flank of Taroom Trough
• Adjacent to Omega Oil & Gas Canyon project
• Potential for significant oil and gas resources

Xstate Resources Limited, in a joint venture with Amplitude Energy, Betaloo Energy, and Eastern States Energy, has been awarded preferred tenderer status for Block 7 in the Queensland Government's Public Land Release program. The block, covering approximately 305km2, is located on the eastern flank of the Taroom Trough and is adjacent to the Omega Oil & Gas Canyon project. The area is considered highly prospective with substantial potential for oil and gas resources due to stacked overpressured Permian formations. The joint venture will be led by Xstate as the initial operator.