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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.

for myself, i too have taken (and crystalised) a very nasty hit on these, which was through pure stupidity (aka greed) ....... i now have just a 50% holding at today's valuation, which i can afford to sit with even if there is a indeed a hefty cash call (reasonably likely)

i don't think XEL is a bad company or even has bad management, but certainly market sentiment is against them .... hence what i still think was a totally disproportionate crash in sp

Blow me am in profit with the shares i bought this morning now there is a first.......

Nice to see the directors purchase some shares to give confidence

EK is shorting....ridiculous sp knockdown to me....should be a pound higher...but it isn't...