.

thanks marky

12 Jan 2011 15:53 - 1173 of 1206
BB - primarily for your benefit ..... i was HUGELY and MORBIDLY OBESE here, so sold some at 386 (yesterday) and a few more at 389 and 390 (today) so am now just HUGELY o'weight!
Proof if needed. can see you got in before me cyners.,.

it is just sooooooo nice when these so-called super-researchers don't do something childishly simple before they start slagging one (me!) off

what odds on an apology of any kind?

btw, shame he can't spell either ..... i'm sure it was MRSI who used to spell "liar" as "lier" but i may be wrong and of course it could be coincidence

Well could flow at up to 3000-3500 bopd without trouble

Range now 120-250 bbls recoverable. 750 OIP estimate.

Rig will be signed no problem there its in hand

bit scary for 30 mins though wasn't it

Now we know the CPR wont be out till late Feb to early April i think we may have a bumpy ride but good news on the reserves could be a lot larger than first thought.

marky - is your post 1210 surmise or as given out at the presentation?

Given at presentation Cynic all second hand as was not there

Question. Why did you all sell recently.

We have put 7 hard years into that. If anyone has a problem with us derisking see me afterwards!

Rig agreement in final stages and will arrive October November and be pumping oil before end of year!!!!!!

There is no reason that the SP should not double or treble within this year and its a pretty safe bet as a lot of the risk has now gone me thinks.

simples! ..... i had a preposterous number (for me), and it was merely prudent to lock in some very good profits ..... as i posted, i am still remain very significantly o'weight here

now i wonder where on earth i saw that apology from baylis and tossa? ..... bloody mirage again!

A bit more info picked up

The OIP is 750m-1bn barrels.There's also more to look at it the south Jurassic section and Dornoch.

The flow rate of 2900 was restricted by having to use tote barrels rather than the hose. The likelihood is a flow rate of 3,000-3,500. I quote "We can achieve that, no problem".
The CPR is likely to show the cos at 90%.

The CPR update should show "Most likely recovery estimate" at 200m. This figure does not appear on the slide but was specifically stated by Lucas-Clements who described this as "conservative". He said that could increase by 50-100% (300m-400m).

He said that the chairman has only half jokingly referred to 500m overall of recoverable oil. It's obvious that the BoD consider there is much, much more to come.

I quote "We think there is room for the share price to double or treble and this should be achieved in the next 12-18 months as a fairly safe bet".

quite possible i dare say and if there looks to be a cheap day or two, i may pop a few more in the bag, though perhaps to trade

Bentley Field, Block 9/3b
North Sea Heavy Oil Development Update
January 2011

http://www.xcite-energy.com/docs/XEL%20General%20Jan11%20Oilbarrel%20v3%20FINAL.pdf

cant say with any true conviction though that the presentation has set the market alight as yet; that will prob occur tommorow as news permeates through the investing/ trading community. Delay in CPR will make the market skittish and unpredictable and present many a trading oppertunity ........../ mms will have a field day as always as they have at ANR which is a cracking stock yet had us all jumping through hoops ...

The CPR update should show "Most likely recovery estimate" at 200m. This figure does not appear on the slide but was specifically stated by Lucas-Clements who described this as "conservative". He said that could increase by 50-100% (300m-400m).

but we knew that in dec................lncidentally where is Proslenes - yet another of Cynners buddies -. Thought he would be around to offer this two pence worth. / and where did cielo suddenly appear from ? ....

EVERYONE'S MY FRIEND - unless they're bloody froggies!

I think pro has been using his other name today TopAnalyst

well everyones my friend unless they play golf and wear pink trousers !!......Beware of stray golf balls you little lslander