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Thanks for the info, hope the wedding goes fine....my purchases yesterday were not shown...and I bought quite a few, even though the spread is wide I managed at the start to get just within 1p of the sp, the thing with this is that it is already a discovery and in the North Sea, close to home and the market cap is ridiculous and a placing has already been done and dusted...the next corporate activity could be to bring in a big player (partner)....to me : it looks good at the moment, if it climbs to 60p or more quickly I'll have another detailed look at it.

Further to my previous post : they tested in the discovery well 150 barrels per day (heavy oil)...but Schlumberger reckon that on production it will flow 4000 barrels per day and a 70% chance of commercial success which to me is high....minimum 160 million barrels of heavy oil.....

far be it from me to tell you where or where not to put your money .... just not for me; have learnt the hard way to keep minnow stocks to a tight minimum in my portfolio and for no great logical reason, prefer to hold VIY, CRA and VOG (rather by default) and a few PXS

Put a chart in the header for the Toronto price of XEL (as its listed AIM and Toronto).

Amazing when you think was listed at 63m pounds market cap with a lot less real solid progress than they have today.

You can keep a watch on Canadian trading at this link (presently 3% up)

http://www.google.ca/finance?q=CVE%3AXEL

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and that not a single share was traded in london today should also tell (and warn!) you a thing or two

13% rise in Canada last night.

Up 10% more in Canada again today so far

share mag nov4th hence the rise was up 1p in morning ended up gaining more ,i was in at 39p so no gain for me .
At 34p North Sea-based heavy oil specialist Xcite
Energy (XEL:AIM) is worth buying as it takes its
Bentley field towards first production.
The investment case for Xcite is rendered compelling by a
comparison of its market valuation with the risked net present
value (NPV) ascribed to Bentley by an independent
audit carried out earlier this year. This suggested the asset
is worth $546 million whereas Xcite is valued by the market
at just $25 million.
The group has secured a deal with drilling contractor
Fugro, which as well as carrying out the work will also
meet some of the costs of a horizontal production well
planned for the first quarter of next year.
The shares were sold off heavily at the end of last year as
oil prices fell to $35 a barrel with the share price hitting a
low of just 3.5p. Typically heavy oil, which is more expensive
to produce than other types of crude, is considered to
require a relatively high oil price.
Fugros commitment is being made in return for a guarantee
of future contracts on the project. This makes Xcites task
easier although, with the cost of such a well standing at
around $35 million, the group will also seek to raise cash from
the equity markets and bring in another partner to the newly
created Bentley Alliance to help fund the development.
Shares says: Shares look undervalued given the estimated
size of Bentley with the securing of funding a likely
catalyst.

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Finished up 5% at 45p to buy (0.8 C$) in Canada, so a blue week ahead next week perhaps.

On a run yet again, in Canada up 6% so far.

Has to go up....undervalued by 100% or so if proper calculations are fed into the equation.

had to go up ..... i should think every single oilie in the market did today!

It looks pretty good to me....this will be drilling at the same time the Falkland lot will be.....and this is a proven discovery with flow rates of 160 barrels of heavy oil per day which Schlumberger have confirmed will flow at 4000 barrels per day later on !.

almost as good as one of HAWK's pathetic wells, but at least HAWK already has a good number of them, and i think that oil is relatively light (more valuable) too

Cynic : check out the Rns's...this is valued at 24 million or so....minimum of 160 million barrels of oil in the North sea with (upside possibly)....Nighthawk is valued above 100 million....This is also on a run...sp rising daily !.

am very cynical about this stock! ..... sorry but don't like amoeba heavy oil E&Ps, and though i hold HAWK, i can't say i'm particularly enthusiastic about that one either ..... on the other hand, the likes of TLW, PMO, HOIL, GPX, GPK are "proper" companies to a greater or lesser extent

Crikey ! : I'm in all of them ! (except PMO)....including Nighthawk...when will that go up ?.

don't tell me you have been following my advice ..... spooky!