Xcite Energy Limited (XEL) is a heavy oil appraisal and development company, with current interests in three licence blocks in the UK North Sea, all of which are held with 100% working interests through its wholly-owned UK subsidiary, Xcite Energy Resources Limited (XER).

Its primary focus is in bringing the Bentley oil field on Block 9/3b into production and in doing so becoming a significant independent oil producer in the North Sea by 2014.

Business Strategy

Bring the Bentley field into commercial production

Grow its reserves base from the existing 116 million barrels of oil equivalent
(“MMboe”) of 2P reserves through the conversion of its prospective resources base

Grow its resources base further through drilling activity on Blocks 9/3c and 9/3d

Employ enhanced oil recovery processes (“EOR”) to further increase its resource base

Increase its asset portfolio through license rounds and asset transactions whilst utilising its heavy-oil expertise to leverage opportunities


http://www.xcite-energy.com/

2012 in Review and the way ahead Robert Cole Video

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My cup of tea. :-))

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Like the utube post.

You can stand the spoon up in it mnamreh its so strong. lol Yep they look to be moving. Good to see these make some progress now.

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It does look like the lows has gone for the moment being, today is consolidating into a higher prices than during the last week that was making a bottom to move up from

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Xcite Energy puts CEO update online
StockMarketWire.com
A video update by Xcite Energy chief executive Rupert Cole is now available on the company's website, www.xcite-energy.com

At 2:41pm: (LON:XEL) share price was -2.37p at 92.13p


http://www.xcite-energy.com/

The video has gone down a treat ?

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I mean not good, with the sp fall.

I was being sarcy. :-))

Down over 4.5%

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Not much rise, but the volume is high 2m , more than double the usual

Looks like a double bottom has now been hapening and should be on the rise from here

Of nearly of all the shares i have held over the years this has to be one of the most frustrating shares to have ever held.

MJ - unfortunately that is what all us holders have wrongly thought on a number of past occasions ...... no doubt, it will eventually be so!

http://www.spreadbetmagazine.com/blog/


Xcite Energy's new Rupert Cole video fails to boost short term sentiment

Posted on Monday, December 17, 2012 at 9:54AM

A rather underwhelming response to the video released on Friday afternoon by Xcite Energy featuring Chief Executive, Rupert Cole, with the shares dropping 3% on Friday and close to 2% today to less than 90p. The link is http://www.xcite-energy.com/media/video-centre/2012-in-review-and-the-way-ahead

Like his predecessor, Richard Smith, who had several videos produced with Proactive Investors, Cole appears to have not produced the investor reaction he was hoping for.

Short term traders have taken the opportunity to sell as the video reiterated that the major news events like the reserves upgrade wouldn’t be available in days, rather in the first few months of 2013. This was flagged some time ago, though some investors still seemed to believe that a pre-Christmas RNS with major news was somehow imminent.

Cole does point out that the recently completed extended well test on the Bentley field exceeded expectations and all is in place for a series of steps including completion of a new reserves report (with the possibility that 2P reserves will be increased from 116 mm barrels), new CPR (competent persons report), submission of a newly revised field development plan to DECC for Bentley, completion of the reserves based lending deal on DECC approval and farm out in 2013.

The crucial farm out will take place after the new reserves report is complete to maximise the value to Xcite shareholders. The reserves report will as well as modelling the core and extended area of the Bentley field using the new reservoir data will potentially include the impact of new EOR (enhanced oil recovery) techniques that may boost the field productivity and recoverability increasing the company’s reserves further.

Plenty to look forward to in the first half of 2013 for those with a little patience. Let’s hope Cole and his team deliver on their promises!

Contrarian investor UK

http://www.offshore.no/international/article/EPC_Offshore_links_up_for_Bentley

is today on the bounce after dropping well lately and rather spiking at the moment