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

Worth noticing on the weeky char that it has been doing higher lows

That was yesterday's direction being at the bottom of parrallel lines, so the chance of spike like it happened seven days ago

an interesting pattern, but sp still stubbornly resists heading properly north - patience my boy, patience

AGM in bloody Paris,.......

BUT NO BLOOD ON THE SHARE PRICE 117.50p

Is following yesterday's steps and looking for 132p very soon at this rate

Plenty of volume today also more buys than sells and heading in right direction

I feel a spike in share price on its way

marky

re - I feel a spike in share price on its way

you forgot to say spike on the way down

Anyway is on the way up once again, after the retracement to 116.50p now looking for 119p and at this rate we could be looking for the high of the spike before 10am

would be good to see

THAT WAS FAST

Reached there an bounce back a bit. there is some resistance at this point, lets see how strong is this resistance

http://www.dailymail.co.uk/money/markets/article-2292866/MARKET-REPORT-Investors-Xcited-takeover-talk.htmlMARKET

Investors Xcited by takeover talk
By GEOFF FOSTER

Excited by a revival of bid speculation, punters piled into North Sea oil explorer Xcite Energy.
They chased the stock 5.5p higher to 121p amid a regurgitation of an old rumour that Statoil, the Norwegian oil and gas group, is about to launch a £2 a share cash bid. Ever since Ithaca Energy agreed to buy Valiant Petroleum, hot gossip in the City has been that Xcite will be the next North Sea operator to be swallowed by a bigger player.
Xcite owns 100 per cent of the Bentley field in the North Sea, one of the last remaining underdeveloped areas. Statoil recently received approval from the UK government for its plans for a £4.7 billion investment to develop the largest new offshore development in Britain’s sector of the North Sea.

ticking away quiet canny

is it a ramp or.....

Looks like someone miss the run or ?

XEL- BAR CHAR - Everything is a BUY .............Xcite Energy Limited (XEL.LS) 123.500+2.500 (+2.07%)3:00P EST(LSE) Detailed Opinion as of Thursday, Mar 14th, 2013 Detailed Opinion Show Signal Strength and Direction

Composite Indicators	Signal
TrendSpotter	Buy
Short Term Indicators
7 Day Average Directional Indicator	Buy
10 - 8 Day Moving Average Hilo Channel	Buy
20 Day Moving Average vs Price	Buy
20 - 50 Day MACD Oscillator	Buy
20 Day Bollinger Bands	Buy
Short Term Indicators Average: 100% Buy
20-Day Average Volume - 3,564,078
Medium Term Indicators
40 Day Commodity Channel Index	Buy
50 Day Moving Average vs Price	Buy
20 - 100 Day MACD Oscillator	Buy
50 Day Parabolic Time/Price	Buy
Medium Term Indicators Average: 100% Buy
50-Day Average Volume - 2,953,602
Long Term Indicators
60 Day Commodity Channel Index	Buy
100 Day Moving Average vs Price	Buy
50 - 100 Day MACD Oscillator	Buy
Long Term Indicators Average: 100% Buy
100-Day Average Volume - 2,766,249
Overall Average: 100% Buy
Price Support Pivot Point Resistance 123.500 115.093 123.203 131.313

Xcite Shares Soar on Statoil Bid Speculation (UK)
Posted on: Mar 14th, 2013 - 10:46 pmhttp://www.directorstalk.com/xcite-shares-soar-on-statoil-bid-speculation-uk/

Interesting trade of 100,000 gone through at £1.27p

On the rise today after the recent fall from a high of 126p, YESTERDAY WAS MARKED DOWN to support 112p and bounce back, today is on the bounce from the same level as yesterday's lows.

Intraday chart

About time the sp started to move, almost fallen asleep this one.


Xcite Energy chief Cole ‘enormously excited’ about what can be achieved in 2013
7:31 am by Jamie AshcroftLast year's well test successfully yielded 149,000 barrels of oil which was sold to a major refiner and delivered Xcite’s first revenues.



Xcite Energy (LON:XEL) chief executive Rupert Cole has told investors that he is enormously excited about what the company can achieve in 2013.

In this morning’s results statement, for the twelve months to December 31 2012, he said that Xcite remains on track to deliver the new competent persons report for the Bentley heavy oil field in the early part of this year.

The report, which will inform a revised field development plan, will be based on data from last year’s successfully well test.

The test was an integral part of the Phase 1A development of the Bentley field, and it successfully yielded 149,000 barrels of oil which was sold to a major refiner and delivered Xcite’s first revenues.

And as a result of that programme the Bentley field development has been substantially de-risked, Xcite says.

"2012 has been an excellent year for Xcite, with the successful, and, most importantly, safe, conclusion of a US$250 million project in the North Sea, on time and on budget, which is a testament to the skill and experience of our team,” Cole said.

“The entire team has worked tirelessly during the well test and in the time since its conclusion in September last year, to re-engineer the reservoir model in order to deliver an updated field development plan based on the excellent data and results from the test.

“The success of last year's project has provided us not only the information but also the confidence needed to be able to deliver our plans to commence the first phase development on Bentley, which will be largely based on scaling up the 2012 pre-production work programme.”

Revenues, from test production, totalled £13.3mln and over the twelve months period the oil field developer made a £1.7mln loss. And at the end of the year Xcite had a cash balance of £25.59mln.

On the financing front, Xcite also made significant progress in 2012 as it secured a US$155mln reserves based lending facility which is expected to cover the a substantial part of the Phase 1B funding requirements.