Xstate is committed to delivering reliable and responsible energy solutions for Australia. With our asset in Queensland, we are preparing to launch a strategic drilling campaign to explore and unlock new gas resources. This effort aligns with our mission to strengthen domestic energy security and support Australian industries and communities with a stable gas supply.

Environmental responsibility is at the core of our operations. We adhere to the highest environmental and regulatory standards, ensuring that our activities are conducted with minimal impact. Our approach includes using best-in-class drilling technologies, comprehensive environmental assessments, and proactive stakeholder engagement. By prioritizing sustainable practices, we are committed to protecting local ecosystems and water resources while safely developing essential energy supplies.

Through our efforts, we aim to contribute to Australia’s energy transition by providing natural gas, which plays a crucial role in reducing emissions and supporting the shift toward a low-carbon future. By responsibly developing this resource, we are not only strengthening Australia’s energy independence but also fostering economic growth and job creation in the region.

Xstate is proud to be part of Australia’s energy future—one that balances development with sustainability.

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Directors

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CHAIRMAN - Andrew Childs

Andrew Childs has over 35 years of oil and gas experience, working in technical and commercial roles for small- to mid-cap companies listed on the ASX, AIM and TSX markets. Having started his professional career as an exploration geologist in the Eastern Goldfields of Western Australia, Mr Childs moved to petroleum geology and geophysics with Perth-based Ranger Oil Australia (later renamed Petroz NL).

MANAGING DIRECTOR - Andrew Bald

Andrew is an entrepreneurial finance executive with over 25 years experience in banking and corporate finance. He has broad experience in originating transactions, assisting companies to raise capital and manage their debt and equity requirements. He has arranged the IPOs for a number of resource companies, managed placements and undertaken restructures including mergers and acquisitions and divestments.

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NON-EXECUTIVE DIRECTOR - Greg Channon

Greg Channon is a geologist with 35 years of global oil and gas experience in a great variety of technical and leadership roles. Currently, his primary role is Chief Geologist for Elixir Energy, where he is overseeing technical operations in Queensland.

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COMPANY SECRETARY - Jordan McArthur

Jordan McArthur is a Chartered Accountant with over ten years’ corporate and financial experience in Australia and the United Kingdom. Jordan spent 6 years as an auditor with a multinational mid-tier accounting firm, gaining a breadth of knowledge from a significant focus on ASX Listed oil & gas and mineral exploration entity audits.

Team

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OPERATIONS MANAGER - Mike Andronov

Mike Andronov is a Petroleum Engineer with over 25 years oil and gas experience. Previously he was Technical Director (Australia & NZ) of Three60 Energy. He has worked for a wide range of Australian operating and consulting companies. Mike has extensive international experience, having held various Petroleum Engineering and wells related roles in the North Sea, North Africa and the Caribbean.

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GEOLOGIST - Shaun Ramsden

Shaun has worked as an earth scientist across a variety of roles, including coal seam gas (Mongolia), native hydrogen and helium (South Australia and SE Asia), oil and gas projects (NW Shelf, Queensland, and the Philippines), carbon capture and storage (South Australia), Ni-Cu-PGE (West Musgraves) and low sulphidation epithermal systems - gold exploration (New Zealand).