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

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.

Daily Oil & Gas monitor

Xcite Energy (LON:XEL) – Long-term Delivery is (Always has Been) the Key Question: These results are not really the focal point, as it is what is to come that is more important. We have always said that we believe that the field will perform well enough in the first phases, but it is the longer-term performance that we have a concern with, more specifically, the operating costs juxtaposed against revenues (a function of crude price and production rate); we are not privy to the development plan, nor have we been given any insight in to the process the technical team have undertaken to mitigate any deterioration in the reservoir’s performance. There is a question, however, whether it will even get in to production under the Company Xcite. M&A transactions are calling the bottom of the equity market as the equity values are not reflecting the underlying asset values, in which case the longer term performance will become somebody else’s issue.

In this news:

• Safe and successful completion of pre-production extended well test on the Bentley field, producing over 149,000 barrels of Bentley crude which was sold to a major refiner in Europe, to record the first revenue for the Group.

• Pre-production extended well test exceeded management expectations, successfully demonstrating drilling, completion, production and export techniques, enabling the development of a cost effective full field development solution, which maximises the recovery of crude oil and associated economics.

• Bentley field now substantially de-risked and development-ready. Development can be approached with a higher degree of certainty in terms of reservoir performance, technical execution and financial outturn.

• Signing of a US$155mm Reserves Based Lending facility with a leading group of lending institutions, which will form a substantial part of the funding requirement for Phase 1B development of the Bentley field.

• Strengthened balance sheet, with new net equity capital financing of £63.4 million and new debt financing of US$60 million during 2012. Cash balance at year end of £25.6 million.

• Strengthened management team and increased staffing levels, to support future project activity levels moving into the development and production phase of the Bentley field.

• Success in the 27th Licence Round provides new acreage to the Xcite Energy Resources Limited portfolio. Blocks 9/4a, 9/8b and 9/9h add four identified prospects to the future exploration and appraisal programmes in the wider Bentley area




http://www.proactiveinvestors.co.uk/columns/fox-davies-capital/12509/xcite-energy-president-energy-ithaca-energy-and-faroe-petroleum-feature-in-fox-davies-newsflash-12509.html

Cracking RNS for once

8 April 2013

Xcite Energy Limited

("Xcite Energy" or the "Company")


Reserves Assessment on the Bentley Field


Statement of Reserves Data and other Oil and Gas Information (Form 51-101F1)


Following the successful completion of the pre-production well test in September 2012 and a new 3D seismic survey, Xcite Energy is pleased to announce the results from its updated reserves assessment report as prepared by TRACS.


Highlights

· Mean PIIP for the Bentley field of 909 MMstb, increased from 550 MMstb as previously reported in February 2012.

· 1P, 2P and 3P oil reserves for the Bentley field of 198 MMstb, 250 MMstb and 312 MMstb, respectively, based on an initial 35 year production period.

· Projected P50 peak production rate of approximately 45,000 stb/d in the first phase development, increasing to approximately 57,000 stb/d in the second phase development.

· NPV10 (after tax) value of oil reserves for the Bentley field of approximately $1.5 billion, $2.2 billion and $2.8 billion on a 1P, 2P and 3P basis, respectively.

· An additional 46 MMstb of P50 Contingent Resources assigned to the Bentley field for recoverable volumes beyond the initial 35 years production period.

· Aggregate, unrisked mean Prospective Resources assigned of approximately 96 MMstb, relating to prospects adjacent to the Bentley field and prospects as awarded in the recent UK Offshore 27th Licence Round.

looking promising as in Auction

Xcite Energy (LON:XEL) earned praise from the top after its reserves were boosted again at the Bentley oil field in the North Sea.

Morgan Stanley sat up and took notice after it revealed Bentley, which is located to the east of Shetland in the North Sea, is now estimated to contain between 198mln and 312mln barrels of oil reserves (1P to 3P).

This in-turn values the project between US$1.5bn and US$2.8bn, and supports estimated peak production of 45,000 barrels of oil per day in the first phase, rising to 57,000 barrels a day in the second.

Morgan Stanley’s Jamie Maddock, who has an ‘overweight’ rating on Xcite and 160p target price, said today’s upgrade confirms Bentley as “one of the largest production potential oil fields in the UK”.

He said: “Management plans to seek a partner to share the costs, allowing them to realize the field’s potential. Size and producing potential will likely prove widely appealing.”

City firm Sanlam Securities joined Morgan Stanley in hailing the upgrade with a ‘buy’ rating.

The broker reckons investors are yet to properly appreciate the potential of the project, and analyst Brendan Long says that as a result of the reserves upgrade his 167p price target is now too low.

The analyst said: “These results underscore our belief (a contrarian belief in the equity market) that the Bentley field is one of the best undeveloped oilfields in the UK North Sea (arguably now the single most attractive field in many respects).”

XEL is going nowhere despite the update. Poor.

welcome back to the whizz kid! ..... 99% of the time he says a share is rubbish and you/we should SELL!SELL!SELL!, but never does he put money with his mouth

Xcite Energy
Reserves assessment update
Impressive reserves upgrade


Valuation: 50% core NAV uplift but farm-out still key
Our core valuation increases significantly as a result of the latest reserves assessment from 124p to 181p. However, to approach the $8.8/bbl inferred by the TRACS economic valuation of $2.2bn (500p per share) the company must first secure a suitable farm-out. In the event of Xcite securing suitable debt and farm-out deals we expect our valuation to increase to 260-290p on a risked basis. The Bentley project is highly sensitive to both development cost escalation and commodity prices which need to be figured into an investment decision. However, the project economics are now much more robust than was previously understood and this should put the company on a sound footing to secure the financing deals in 2013 and in turn unlock value for Xcite’s shareholders.



http://www.edisoninvestmentresearch.com/researchreports/Xcite100413update.pdf

Xcite Energy: Sanlam Securities raises target price from 167p to 204p keeping its buy recommendation

Xcite Energy upgraded by broker following rise in oil reserves
By Jamie Ashcroft April 12 2013, 9:39am The reserves report confirmed the Bentley field as one of the largest in the UK, with over 900mln barrels of ‘in-place’ oil and 312mln barrels of reserves.The reserves report confirmed the Bentley field as one of the largest in the UK, with over 900mln barrels of ‘in-place’ oil and 312mln barrels of reserves.



City firm Sanlam Securities has upgraded its view on North Sea oilfield developer Xcite Energy (LON:XEL) following Monday’s reserves audit.

The broker’s target price is increased to 204p from 167p.


The reserves report confirmed the Bentley field as one of the largest in the UK, with over 900mln barrels of ‘in-place’ oil and 312mln barrels of reserves.

Importantly the audit supports Xcite’s plan for peak production of 45,000 barrels a day in the first phase, and 57,000 barrels a day in the second.

And in its note today, in which it repeated a ‘buy’ recommendation, Sanlam highlighted that the development could now be considered to be low-risk.

"We are particularly attracted to Xcite due to the low-risk nature of the Bentley field, which has been extensively appraised with nine well penetrations, a normal production test, another 68 day production test, and 3D seismic," said Sanlam analyst Brendan Long.

"Such an extensive understanding of a reservoir before it is commercially produced is not common amongst the assets developed by junior oil & gas companies; however, thanks to this extensive testing we can have a very high level of confidence in the Bentley reservoir."

The broker says it is taking a conservative view when valuing Xcite, by only considering the 178mln barrels of reserves in the Bentley core area and by applying a 50% discount to the project because the Bentley development is not as yet fully funded.

Long believes, however, that the recently launched farm-out process will bridge the funding gap and the reserves upgrade will be a boost to the process.

“We believe the new reserve estimates will be increasingly appealing to farm-out parties because they are premised on 3D seismic, but most importantly because the reserves are increasingly material for major oil companies.

“We believe that a farmout is likely over the course of 2013.”

Malcolm Graham-Wood, analyst at VSA Capital, advises investors to buy when the shares hit 80p for a “very substantial long-term upside”.

http://www.iii.co.uk/tv/episode/should-i-buy-shares-xcite-energy