.

markymar, thanks for the update!

137.50p - 3.50p

is now ready for turning after the rise and retracement today

Well done sequestor, the sp did fall . Looked impos this morning

These directors have not purchased more stock for fun. They are in the know.
They still own millions of shares. Guessing they have not sold 20% of what they hold.
Question , why the purchase.

Nice read marky keep it going, not sold any yet and happy to stay put.,.

Xcite taps US partner for 12.5m
Published Date: 01 July 2011
http://business.scotsman.com/business/Xcite-taps-US-partner-for.6793975.jp


XCITE Energy, the Aberdeen-based oil and gas explorer, yesterday drew down a further 12.5 million of cash from US investment manager Yorkville Advisors to fund the first stage of production on the Bentley field in the North Sea.
Under Xcite and Yorkville's "standby equity distribution agreement", the US firm will get 10.6 million shares at 118p each.

Chief financial officer Rupert Cole and exploration and development director Stephen Kew are each buying one million shares from Yorkville at 118p. Following the sale, the pair will hold about 6.2 million shares in the company.

Xcite closed down 2.25p at 138.75p having hit an intra-day high of 162p before sliding back. The stock has lost two-thirds of its value since May's reserves report for the Bentley field but had rallied by 31p on Wednesday.

TOP SMALL CAP MOVERS: Xcite Energy shares rebound 50% as index recovers ground
By JAMIE ASHCROFT
Last updated at 2:44 PM on 1st July 2011

Traders breathed a sigh of relief, and perhaps knocked back an ouzo or two, after the Greek bail-out vote eased the pressure on the junior market.
The FTSE AIM100 index bounced back this week after reaching its lowest point of the year last Friday.

In the past five days Londons small-cap index has added 125 points, or over three per cent, and this morning it stands at 3,948.
'The whole market was focused on the Greek vote in the early part of the week,' said Nick Searle, senior trader at Evolution Securities.


Xcite-ing times: Firm's finance director and development director each bought one million shares on Thursday

'We rallied into the vote and once it was passed the market sold off a little bit. It is also the half-year end for some funds, thats played its part too. Theres a bit more blue on the screens. Investors are a bit more comfortable, but ultimately it is still pretty tough out there.'

Xcite Energy (down 0.25p today, at 138.5p) was the weeks big feature and is certainly living up to its name as the shares rebounded fifty per cent from their lows.

At recent prices Xcite has been valued at levels last seen in October 2010, before it completed the successful development well that ultimately proved the Bentleys heavy oil could be produced commercially.


Finance director Rupert Cole and development director Stephen Kew are clearly sticking to their guns though, as each of them bought one million shares on Thursday.

Portfolio review of the week July 2nd 2011
SATURDAY, JULY 2, 2011 AT 7:51PM
http://contrarianinvestoruk.squarespace.com/

Xcite Energy (XEL)After dropping as low as 106p on Tuesday, Xcites shares finished the week at 147p, a 20% rise since the previous weekss close. The key piece of news was released on Thursday that Directors Rupert Cole and Stephen Kew had committed to buy 1 million shares each at a price of 1.18 a share. At the same time announced that it had drawn down 12.5 million on its Standby Equity Distribution Agreement (SEDA) with Yorkville at 1.18. So a roller coaster ride for Xcite shareholders over the last month and hopefully the 2.3 million of Director buys will now put a floor on the share price which has fallen from over 3 since May. We now await the DECC (Department of Energy and Climate Change) approval in late July/August and final clarification of funding of First Stage Production (FSP) of the Bentley Field.

Yes those directors know how to us the market all right.

Good to see the share price moving in the right direction.......still a long way to go

Only about 3 miles . lol. It all helps

baler - how you doing - saw your note a page or 2 back - i've been on holiday (not at her majesty's pleasure) lol!!! got back just in time for some good stuff xel and again today lol!!!! and dc mate i can feel a, , a , another...........


yeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeehhhhhhhhhhhhhhhhhhhhhhhhaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaakerrrrrrrrrrrrrrrrrrrrrrrrrchinnnnnggggggggggggggggggggaroooooooooooooooooooooooooooooooooooooooooooooooooooooooo!!! lol

very pleased with me timing!! i hope many others have had good fortune too

gonna turn some of me attention to rrr also me thinks - missed the sub 6p! but want some action there and elsewhere this week

gla

gibby, Hope you had a good break and plenty of visitors. lol. Once we get to 3.40
I will give it a Yeha. Do not hold many .Nice to see someone so happy . Good luck.
dc. Been stacking hay all day From DB's Field. Knackered. Could of done with a hand today bb. lol

2 miles to go dreamcatcher

No sign of a fall back, looks ok?

Is looking for 200p and by the way is moving this afternoon should be Bingo

Whats happening..

Bingo is already there as a Spike developed

My buy at 1.30 looking good .....how to double your money......still along way to get my ISA money back

UK ups tax support for North Sea oil firms
Tue Jul 5, 2011 9:16am GMT
Print | Single Page[-] Text [+] LONDON, July 5 (Reuters) - Britain will increase the level of tax support for North Sea Oil companies to help firms operating in smaller, less profitable oil fields, the Treasury said on Tuesday.
The Treasury said it will raise the annual rate of Ring Fence Expenditure Supplement to 10 percent from 6 percent. It also said it will continue to consult with oil companies on finding new categories of field allowance.

RFES was introduced in 2006 and currently allows companies to increase the value of losses they carry over from one period to the next by 6 percent for a maximum of 6 years. It is aimed at helping firms that do not yet generate enough income to be able to offset their exploration, appraisal and development costs against corporation tax.

"Today's change demonstrates our commitment to ensure current allowances work effectively and equitably, and lays the groundwork for further constructive discussions on field allowances," said Treasury minister Justine Greening, in a statement.

The government caused an uproar in the oil industry earlier this year, when it unexpectedly increased a tax on North Sea oil and gas producers to 32 percent from 20 percent to offset lower fuel duty for motorists.

In response, Norway's oil and gas producer Statoil STL.OL suspended $10 billion worth of projects off Britain and utility Centrica CNA.L said it had idled a gas field as profits had become marginal.

The Treasury said the new RFES allowance was estimated to cost around 50 million pounds a year by the fiscal year 2015/16.

(Reporting by Fiona Shaikh)