NORTH AMERICA

Xstate case continues

XSTATE Resources has filed a statement of claim and an application for summary judgement in its case against four investors who failed to follow through on a $25 million investment under an unconditional subscription agreement, resulting in Xstate losing its stake two Californian oil fields.

The Sansinena oil field.

The Sansinena oil field.

Xstate is seeking summary judgements in the Supreme Court of Western Australia against three of the four investors for breach of the subscription agreements.   Each of the four investors - Tanzil Hidayat,...

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