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Raven acquisition in Dempsey sees change of terms

RAVEN Energy will pay a further non-refundable deposit of US$20,000 to Xstate and issue the company a 50% consideration of shares, in return for granted exclusivity for the acquisition of Xstate subsidiary XGas which holds a 10% interest in the Dempsey gas project.

Paul Hunt
Dempsey well in the Sacramento basin

Dempsey well in the Sacramento basin

The variation to the agreement was announced Friday and will also see Raven issue Xstate 139 million shares with a value of A$500,000.    Xstate has agreed to push an extension of the end date of the...

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