Xstate Resources Limited announced that executive Director Cosimo Damiano has been appointed as Managing Director of the company. Mr. Damiano was appointed a director of the Company on 29 October 2015 and provides Xstate extensive commercial and finance experience as well as asset familiarity on the ground in Xstate's core areas of interest in the USA. Mr. Damiano's experience involves the strategic analysis and financial modelling of oil & gas companies for global Investment Banks and Energy Commodity Trading companies in a principal investment role. Mr. Damiano's appointment to the role of Managing Director is intended to assist Xstate to pursue, assess and secure funding for a strategy of adding low operating cost conventional oil and gas production as well as undeveloped reserves to the company's portfolio. Chris Hodge, the current Managing Director, will remain a non-executive director of the company.