.

Someone elsewhere mentioned an MBO and got ridiculed, not so sure he wasn`t on the right trail, if the future IS so bright some sort of takeover is on the cards at this price.

never buy on t/o rumour .... however, there surely has to be a price at which risk/reward becomes compelling ..... 120 looks a possibility

Lets hope for a t/o

What a disaster my poor ISAs... even my nibble this morning showing losses.

The oil is there. At this rate 1 is not far off. Then we can only hope, for the sp to start to rise.

I cant see it recover for about 6 to 9 months to get to new highs not untill they start to pump the oil out.

Where does the company now stand in raising capital.

I think that the bottom is now, that's why I took a small bite this morning.....you can keep on saying it's going to drop further....the fact is that at this price : it's cheap !.

Theres something radically wrong here the market is surging bar this one.

Most shares are cheap? Lets just hope Greece being sorted assists.

Much cheaper at 1...75p.....

Its lost a lot of confidence with the public.

I just would like it to recover for the shares I hold now. I am not purchasing any more
Xel.

RF - order book currently quite strong even if only dcb or bear covering

I'm convinced that a strong rebound is coming, and I can be patient....

Good for all

XEL probably has been hyped too much.

formerly it was arguably so, but as i wrote earlier, at some point risk/reward tilts the other way

Also the time period for the drill. We all know what happens with long periods with no news.

Could this finally be the bottom for AIM oil stocks?
Wednesday, June 22, 2011 at 8:32AM
Many of the most heavily owned oil and gas names in AIM have been decimated in the last 3 months. Xcite Energy, Chariot Oil and Gas, Encore to name a few.

Encore Oil's share rose 8.5 percent yesterday to 60p after director share buys totalling 263,000 shares at an average price of 56.5p. The shares have fallen from 140p on some mixed drilling news from the North Sea over the last couple of months.

Xcite Energy shares hit a low of 128p yesterday which on valuation grounds makes no sense. The core area of the Bentley field is estimated to be worth $1.35 billion or over 5 a share according to the official Reserves Report issued in May. The "hot money" has flowed out of XEL into the likes of Rockhopper, and undoubtedly it will return when news of DECC approval is obtained during the summer.

Some good buying opportunities out there for sure and I have topped up on Xcite and bought into Encore.