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Xstate Resources Limited
(Sydney:XST)
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Rating:46Neutral
Price Target:
AU$0.02
▼(-25.00% Downside)
Action:Reiterated
Date:08/25/26
The score is held down primarily by deteriorating financial performance (revenue falling to zero and continued operating/free-cash-flow losses). Technical indicators offer some short-term support (price above 20/50DMA and positive MACD), but overbought readings and a price still below the 100/200DMA temper that benefit. Valuation remains unattractive/uncertain due to the negative P/E and lack of dividend yield data.
Positive Factors
Conservative Balance Sheet
Near-zero leverage limits interest obligations and reduces balance-sheet stress while the company funds exploration. This provides financial flexibility to pursue the Diona project, although continued losses could weaken that position if external funding remains necessary.
Negative Factors
Revenue Collapse
The disappearance of reported revenue indicates that Xstate currently lacks a dependable operating income base. Until Diona or another asset reaches commercial production, financial performance will remain highly exposed to exploration outcomes and funding availability.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative Balance Sheet
Near-zero leverage limits interest obligations and reduces balance-sheet stress while the company funds exploration. This provides financial flexibility to pursue the Diona project, although continued losses could weaken that position if external funding remains necessary.
Read all positive factors
Xstate Resources Limited (XST) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$7.20M
Dividend YieldN/A
Average Volume (3M)1.30M
Price to Earnings (P/E)―
Beta (1Y)0.07
Revenue Growth-100.00%
EPS Growth9.93%
CountryAU
Employees1
SectorEnergy
Sector Strength52
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)-0.01
Shares Outstanding479,892,940
10 Day Avg. Volume1,300,375
30 Day Avg. Volume1,303,013
Financial Highlights & Ratios
PEG Ratio-0.04
Price to Book (P/B)0.49
Price to Sales (P/S)0.00
P/FCF Ratio-2.03
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Xstate Resources Limited Business Overview & Revenue Model
Company Description
Established in 1987 and based in Fremantle, Australia, Xstate Resources Limited focuses primarily on the exploration and production of oil and natural gas, with a significant portion of its operations located in the United States. The company hold...
How the Company Makes Money
null...
Xstate Resources Limited Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
62
Positive
Cash Flow
22
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 618.38K | 7.81M | 19.41M | 8.42M |
| Gross Profit | 0.00 | 65.41K | 2.01M | -2.81M | -3.26M |
| EBITDA | -1.76M | -384.18K | 2.52M | 773.68K | -2.79M |
| Net Income | -1.83M | 1.18M | 1.40M | -3.48M | -4.64M |
Balance Sheet | |||||
| Total Assets | 8.01M | 4.53M | 12.73M | 31.82M | 40.39M |
| Cash, Cash Equivalents and Short-Term Investments | 2.91M | 3.56M | 995.26K | 814.46K | 724.39K |
| Total Debt | 0.00 | 0.00 | 4.89K | 0.00 | 4.92K |
| Total Liabilities | 823.06K | 1.12M | 10.54M | 31.12M | 36.54M |
| Stockholders Equity | 7.19M | 3.40M | 2.20M | 698.84K | 3.85M |
Cash Flow | |||||
| Free Cash Flow | -1.74M | -1.59M | -923.83K | 100.94K | -4.79M |
| Operating Cash Flow | -1.74M | -1.59M | -78.23K | 100.94K | -3.05M |
| Investing Cash Flow | -4.40M | 4.12M | 279.33K | 0.00 | -1.74M |
| Financing Cash Flow | 5.54M | -4.89K | -42.93K | -4.92K | 4.65M |
Xstate Resources Limited Technical Analysis
Negative
0.02
Price Trends
0.02
Negative
Market Momentum
>-0.01
Positive
32.17
Neutral
11.11
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:XST, the sentiment is Negative. The current price of 0.02 is above the 20-day moving average (MA) of 0.02, below the 50-day MA of 0.02, and equal to the 200-day MA of ―, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 32.17 is Neutral, neither overbought nor oversold. The STOCH value of 11.11 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:XST.
Xstate Resources Limited Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
57 Neutral | AU$10.35M | -1.42 | -27.80% | ― | ― | 33.67% | |
49 Neutral | AU$8.21M | 10.91 | 3.55% | ― | -17.60% | ― | |
46 Neutral | AU$6.02M | -1.83 | -5.53% | ― | -100.00% | 55.30% | |
46 Neutral | AU$7.20M | -1.18 | -37.28% | ― | -100.00% | 9.93% | |
43 Neutral | AU$8.08M | -0.87 | -435.32% | ― | ― | 20.69% |
* Energy Sector Average
AU:XST
Xstate Resources Limited
0.02
>-0.01
-25.00%
AU:CND
Global Oil & Gas
0.02
>-0.01
-26.09%
AU:GLL
Galilee Energy Limited
0.01
0.00
0.00%
AU:GAS
State Gas Ltd.
0.01
>-0.01
-38.89%
AU:SHE
Stonehorse Energy Ltd
0.01
<0.01
20.00%
AU:TEE
Top End Energy Limited
0.04
>-0.01
-5.13%
Xstate Resources Limited Corporate Events
Xstate advances Diona-1 stimulation as costs rise and flow test plans evolve
Jul 31, 2026
Xstate Resources reported that it completed a two-stage stimulation program on the Diona-1 gas well in Queensland’s Surat Bowen Basin, confirming over-pressured hydrocarbons and consistent gas flow to surface despite a significant column of ...
Xstate Grants 7 Million Performance Rights to Director’s Associated Entity
Jun 16, 2026
Xstate Resources Limited has updated the market on a change in director Greg Channon’s interests, disclosing the issue of 7 million performance rights to an entity associated with him, Rubylloyd Pty Ltd. The performance rights were granted a...
Xstate Director Granted 7 Million Performance Rights After AGM Approval
Jun 16, 2026
Xstate Resources Limited has updated the market on a change to director Andrew Childs’ holdings, confirming the issue of 7,000,000 performance rights following shareholder approval at the company’s annual general meeting on 29 May 2026...
Xstate Director Andrew Bald Issued 8.5 Million Performance Rights After AGM Approval
Jun 16, 2026
Xstate Resources Limited has disclosed a change in the indirect interests of director Andrew Bald, in line with ASX listing rule requirements. The notice confirms that Bald holds his interests through Hera Investments Pty Ltd and Bald Superannuati...
Xstate Resources Issues 17 Million Unlisted Placement Options
Jun 16, 2026
Xstate Resources Limited has notified the market of the issue of 17,070,707 unlisted placement options, which are unquoted securities not intended to be traded on the ASX. The options, issued on 16 June 2026, form part of a previously announced tr...
Xstate Resources Issues 12.8 Million Unlisted Options as Part of Capital Management Strategy
Jun 16, 2026
Xstate Resources Limited has notified the market of the issue of 12,803,030 unlisted options as unquoted securities, effective 16 June 2026. These options are part of previously announced transactions and are not intended to be quoted on the ASX, ...
Xstate Shareholders Back All AGM Resolutions, Expanding Capital Flexibility
May 29, 2026
Xstate Resources Limited has confirmed that all resolutions put to shareholders at its annual general meeting on 29 May 2026 were passed by poll. The meeting drew proxy votes representing 69,664,830 shares, providing a substantial turnout for key ...
Xstate Shareholders Back Capital Resolutions to Advance Diona Oil and Gas Project
May 29, 2026
Xstate Resources Limited reported that all resolutions put to shareholders at its 29 May 2026 general meeting were passed by poll, with proxies lodged over 66.2 million shares. The approvals cover the ratification of previously issued placement sh...
Elixir pauses Diona‑1 testing to install artificial lift and pursue contingent resource booking
May 26, 2026
Elixir Energy has paused flow testing at its Diona‑1 exploration well in Queensland’s Surat‑Bowen Basin to mobilise and install artificial lift systems, after the well recovered about 46% of injected stimulation fluids but could ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.