.

5 mins to go AND.......

F*CK ALL!! :((

I was going to ask you to predict the numbers for tonight's Euro lottery BB. Shan't bother now. ;o)

lol.,.

There are the results then, now what?

Quick scan of the RNS only, but aren't those reserve figures a little low?

Guess the Market will answer that question in an hours time.

yes,
not exactly earth shattering, seems it may have been leaking over the last weeks hence the price slump.

whoops - could see some southerly here today or approx 12 minutes! a tad below expectations perhaps?!

it depends what you were all expecting ..... as far as i can determine, XEL management is always very conservative in its forecasts, unlike that of HAWK, EME and other usual suspects ..... i've read but not understood the report and am now happy to wait and see and see what those with true knowledge have to make of it all

you mean xel not a true quality company like the dreaded hawk!! interesting so far 9 mms on board and sp holding - i suppose on how many people will panic and sell - best value here will imo come after august - should show around 60% + upside from current sp

have sold 2/3 rds of holding with a view to buying back at a lower price and getting more shares for my bucks. a risky venture no doubt but banking on market not being impressed with the figures.

GLA

Alex

roba - yep looks like you will be able to buy back lower - red now - i am hoping to buy some cheap shares here today - always been a fan of xel - in and out many times

you judgement could well pay dividends today - more bang for your buck - gl

what price to buy back is the question <300p if i can not too worried if gioes much lower as should climb back

thinking the same question - keeping an eye on l2 - auction again as tanking at the moment - maybe 250 - interesting day ahead here!

to anyone in long here i would not be worried just typical aim today

there will be the usual "sell on the news" stuff plus no doubt some forced sales as stops are hit ..... i'll just wait for more knowledgeable comment

barely sub 300p is about right.

Going to need cash soon.

Sold 40% @3.10 will be back in if alex gets his 250p ave now 1.24 so quite happy with whats left.

rob may not reach 250 today!! baler report below interesting gla

i bought 293 reason:

Arbuthnot

Xcite Energy* Strong Buy

XEL.L / 316.50p / 516.5m / TP: 600p

Event: Other

Xcites much anticipated reserves assessment report has been published, the highlights are:

Oil reserves of the type 1P, 2P and 3P in the First Stage Production of approximately 22

MMstb, 28 MMstb and 35 MMstb, respectively. The report estimates that the post tax NPV 10

for these reserves are $229 MM, $396 MM and $558 MM, respectively

Contingent resources are estimated to be 73 MMstb of oil, 87 MMstb of oil and 101 MMstb

of oil on a low estimate, best estimate and high estimate basis, respectively. The report

estimates that the post tax NPV 10 for these reserves are $661 MM, $961 MM and $1,315 MM,

respectively

Prospective resources for seven prospects are 17.7mmboe on a risked best estimate basis.

Overall this is a positive progression for the company as it moves a significant proportion of the resources

into reserves for the first time. There has also been a significant increase in the NPV of the asset since the

last CPR ($1,354m versus $881m on a best estimate basis). This is despite the increase in UK North Sea

taxes at the last budget.

This is another important milestone for Xcite following the drilling of the previous well. The company

continues to make progress on its development plan which should be submitted for DECC approval in the

short term in anticipation of development drilling starting in 4Q2011.

We continue coverage with a Strong Buy recommendation with a 600p target price.

Sam Wahab, 020 7012 2097, samwahab@arbuthnot.co.uk

i suspect Arbuthnot are house brokers and if so, they're drum-banging is a bit suspect

i know but i am banking on pis buying into that as they tend to, the report might be enough to stop todays slump and even reverse it - if not i will hold and wait - only a few months till oil flows anyhow - win win really and sub 3