Xstate Resources Limited (AU:XST) has released an update.
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Xstate Resources Limited has sold its Red Earth assets for US$2.73 million, enhancing its cash reserves for future opportunities. The company maintained a 25% working interest in the Crest Jinn assets in Canada, with a net production of 419 barrels of oil for the quarter. Following a shutdown, the Anshof-3 well in Austria has resumed production, signalling a strategic shift away from further Austrian ventures.
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