.

rf

It is entirely possible to take on the SB firms with a legitimate complaint and through perseverence win. I did so myself with a SB compnay a few years ago. Without going into boring detail it transpired that I held positions in FX trades of which I was totally unaware, it sounds ludicrous, but these positions were not visible on my trading platform and it took a little while before I understood what the fuck was going on. Additionally there was no warning on the platform and it took a lot of reading within the T&C small print to find what can only be referred to as a passing comment to my positions. I went straight to the finance director and after a frank exchange of correspondence, I won my case and received compensation. I could probably have sued the company for what was tantamount to malpractise, but in truth I was happy enough to accept their offer. I also understood that their dealing platform information would be updated as would their T&Cs. Talking to the dealers is a complete waste of time, go stright to the finance director, with evidential proof of the market at the time. if you receive no satisfaction take it higher, it is possible to beat these guys.

Thanks for the advice ptholden....I will make a formal complaint about this and take this further as I find it hard to understand.....

Very sorry to hear about your dilemma, rf. I hope u get your money back.

RF sorry to hear that i have also lost a packet today i had a small house riding on this its now more like a bomb site at moment the board want shooting.....this is the worst year i have had ever. feel totaly numb.

Marky, after rkh loss would have thought you'd look after your money better.....no more pocket money till you promis to bank profits.,. :((

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Xcite Energy fell sharply on Tuesday after the North Sea oil explorer released a disappointing update on its Bentley heavy oilfield.

The market had been expecting Xcite to announce recoverable reserves of around 160m barrels of oil, but an independent audit of the field put the so-called P2 figure at 28m barrels with a further contingent resource on a best estimate basis at 87m barrels.

That news saw the shares drop 25 per cent to 237p, with some analysts also taking issue with a third party valuation of the field. However, Evolution Securities retained its buy recommendation, arguing that Xcite could now push on with development of the field.

The classification of 28m barrels of 2P reserves is a positive step forward for Xcite and its management team as it is the first time booked reserves have been classified for the Bentley field. The company can now push ahead with securing the financing, both equity and debt, to deliver first production by the end of the first quarter of 2012, said analyst David Farrell.

You will get nowhere with any complaint re. the share price with a sb firm, read the small print 99 to 1 it will say that the sp at any given moment is THEIRS whether they get that from the LSE,PLUS or any other supplier is for them to decide.

Solution- don`t use stop losses.

looking good so far ;-

Marky,...not a good day for us, it seems.....

Stop griping rf, sp will be back.....just got to wait longer.

the mms took no prisoners yesterday - hope things get better for you quickly

cynic hope you still have your 223 should be some profit today here!

Wish I'd bought some at 180p but chickened out.

understand that - i was only able to claw back losses by buying more around 185 - seems to have steadied now - and from the other side for what is worth today:

'Page 4

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

The figure 1 in brackets states core field only.full field is up to 250.

Nothing has changed except for the better.

It's clear as day.

Anybody saying different is either mischievious or has done no research'

I have no position, long or short, as is known I was out above 350p a long time ago after the flow test.

But, it seems a placing is on its way fairly soon and I'd expect it to be around 200p levels.

Think you might see a continued weak share price and drifting down for some time yet.

Good luck.

I see that as a positive and will buy more when low enough, this comp ain't finished yet.,.

worth a butchers:

http://www.proactiveinvestors.co.uk/companies/news/28067/xcite-energy-shares-drop-in-volatile-trading-after-key-reserves-report-28067.html

Have just bought a few more trying to claw back some of the huge losses i have made on this one......hope this is the bottom and up she will go........soon

you're a very brave chap

Well i wouldnt buy any thing i buy with my luck this year Cynic there should be a warning above my name.