Xstate Resources Limited announced the appointment Richard Lorentz as a Non-Executive Director of the Company. Mr. Lorentz is a petroleum geologist and a leading member of the upstream oil and gas community in Southeast Asia with a career spanning the better part of four decades. Aside from playing key roles in the discovery and development of several oil and gas fields, he has an unmatched network of industry, government and investment relationships and has been instrumental in the evolution of three E & P companies through to public listing status.

The Company also announced that Cosimo Daminano has resigned as Managing Director of the company. The Company announced the resignation of Ian Tchacos as a Non-Executive Director of the Company.