.

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)

Wish I'd bought a lot more....had a spread running and got stupidly stopped out and voila : 60p up....damn....

well i'm gld i put a stop on some at 225 as have now banked a very nice profit on those ...... at what level i should buy them back, i am a yet undecided

Xcite Energy (LON:XEL) was the sector's biggest riser with its shares up by over 18%% in late afternoon trading.

Earlier the firm welcomed the Treasury's increase in the annual ring fenced expenditure supplement from 6% to 10% for the North Sea Fiscal regime.

The increase enhances the underlying asset value of the Bentley field by increasing the taxable losses that the company can carry forward to offset against future Corporation Tax liabilities.

CEO Richard Smith said: "We welcome today's announcement as an indication of the benefit of industry consultation and the Government's appetite for assisting with the development of new oil fields in the UK Continental Shelf.

"The uplift in the supplement together with the 'heavy oil allowances' previously introduced can only improve the already robust economics of the Bentley field."

Nice to see the sp come back up for you markymar

RNS Number : 8133J

Xcite Energy Limited

05 July 2011

THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES

TSX-V, LSE-AIM: XEL

5 July 2011

Xcite Energy Limited

("Xcite Energy" or the "Company")

Increase to Ring Fenced Expenditure Supplement

The Company notes the announcement today by HM Treasury of an increase in the annual Ring Fenced Expenditure Supplement ("RFES") from 6% to 10% for the North Sea fiscal regime.

The increase in the RFES enhances the underlying asset value of the Bentley field by increasing the taxable losses that the Company may carry forward to offset against future Corporation Tax liabilities.

Richard Smith, Chief Executive Officer of Xcite Energy commented:

"We welcome today's announcement as an indication of the benefit of industry consultation and the Government's appetite for assisting with the development of new oil fields in the UK Continental Shelf.

The uplift in the supplement together with the Heavy Oil Allowances previously introduced can only improve the already robust economics of the Bentley field".


ENQUIRIES: +44 (0) 1483 549
Xcite Energy Limited 063
Richard Smith Chief Executive
Officer
Rupert Cole Chief Financial
Officer

Oriel Securities (Joint Broker +44 (0) 207 710
and Nomad) 7600
Emma Griffin
Simon Edwards

Morgan Stanley (Joint Broker) +44 (0) 207 425
8000
Andrew Foster

Pelham Bell Pottinger +44 (0) 207 861
3232
Mark Antelme
Henry Lerwill

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Oriel Securities which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for Xcite Energy and for no one else in connection with the subject matter of this announcement and will not be responsible to anyone other than Xcite Energy for providing the protections afforded to its clients or for providing advice in connection with the subject matter of this announcement.

Morgan Stanley which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for Xcite Energy and for no one else in connection with the subject matter of this announcement and will not be responsible to anyone other than Xcite Energy for providing the protections afforded to its clients or for providing advice in connection with the subject matter of this announcement.

This information is provided by RNS

The company news service from the London Stock Exchange

END

may have been a bit greedy and bought back at 207.25 ..... time will tell

10000 at 172p lookin good to me.,.

Are you sure. I think your finger pressed to many 0's. Should it read 10 or 100. lol

never sold any so ave good.,.

cheers dc - plenty of visitors lol!!! keep going with the hay!

well if you are not quite ready for the yeha how about a ;

kerrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrchinnnnnnnnnnnnnnnnnnnnnnnnnnnnnggggggggggggggggg!

great day and got me rrr early! double yeeeeeeeeeeeeeeehaaaaaaaaaaaaaaaaaa!!

hope went well for you and everyone else