Australia's Sacgasco, Xstate climb on asset acquisition in Canada

Xstate Resources

26/03/2021 04:06

** Shares of Sacgasco Ltd  SGC.AX  rise as much as 3.75% to
A$0.083, set for their best day since March 19 
    ** Xstate Resources  XST.AX  jumps as much as 16.7% to
A$0.014, on track for biggest intraday percentage gain in nearly
three weeks
    ** Sacgasco completes acquisition of 30% working interest in
the Red Earth oil producing assets in Canada  urn:newsml:reuters.com:*:nASX7p7rqj
    ** Xstate completes acquisition of 25% interest in the Red
Earth oil producing assets  urn:newsml:reuters.com:*:nASX8HrKy6
    ** The remaining 45% of the Red Earth oil producing assets
is owned by Canada's Blue Sky Resources Ltd
    ** The two oil and gas explorers expect the acquisition to
significantly increase their respective net oil production
    ** As of last close, SGC had risen 27% this year, while XST
had more than doubled 
    
    

 (Reporting by Nikhil Subba in Bengaluru)
 ((Nikhil.Subba.thomsonreuters.com@reuters.net))