.

timeline expectations

1) ES submitted (starts with public notice) - end of July
2) Rig delivered for fitting (3 mth minimum) - end of July
3) Formal DECC submittal - sometime Aug/Sept/Oct
4) ES approval and DECC approval - end of Oct
5) Rig moved to Bentley - early Nov
6) Spud - early to mid Nov

Markets very red over night, could see 1.50 today. dam

There is something much mores serious than the o/a market sentiment here.

At the moment the only profit making or taking is on shorts......nothing but red for me....impossible to predict this blinkin' market...

TIME to NIBBLE

Had an early spike down to 152p, but no one would had the chance to get a this price.

The 68.2% Fibonacci gives 158.75p so anything around this price, means is time for a nibble and if it gets better, add some more.

A large spread at the moment but

the last "AT" was at 158.75p and the middle price is also, although on large spread just now

At a loss because of a nibble in the mid-one eighties....will have to stay put.....

Very unusual the 5p spread and hunging into this 68.2 % Fibonacci retracement for some time now 158.75p

Finally the momentum is taking place and on the move 167p

How on earth are you meant to trade this share - it defies logic - now blue.

no it's not, but certainly a lot healthier - for now - at 170/173

It was when I posted - I rest my case!

re - it defies logic

you may do not know the logic, but I do, so just ............

nibble when I say,it would be easy for you

I had the second nibble a couple minutes ago @ 172p, as it looks like is going to move into the blue today

The order book is still well positive on the bid side, if discounting the 320K at the prices of 210 / 295p

I suspect is going to be a roller coaster on the way up now as the "shorters" will be closing positions as the share price appreciates

i bought some more at 172 late yesterday and castigated myself somewhat this morning for having done so ...... now what does one do????????? ..... have lunch (france) with a bottle of good rose is the obvious call!

The Intraday chart has a lovely sight just now @ 180p

The spike took the shares to 194p but down again to start the new trend ( it seems is like the GAP, it has to be revisited again )

rococo i take my hat off to you perfect trading.

thanks " marky "

the shares are ready for the next move up after the pause this afternoon

pleased the sp has held

quick spike first thing-grab any profit sharpish!

Xcite Energy Limited Update on "Rowan Norway" N-Class Jack-Up Rig & FDP
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TIDMXEL

RNS Number : 2812K

Xcite Energy Limited

13 July 2011

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

TSX-V, LSE-AIM: XEL

13 July 2011

Xcite Energy Limited

("Xcite Energy" or the "Company")

Update on "Rowan Norway" N-Class Jack-Up Rig and FDP

The Company is pleased to announce that the "Rowan Norway" deep water jack-up rig, scheduled for use on the Company's Bentley field, has now been delivered by the Keppel FELS shipyard in Singapore to Rowan Companies, Inc.

The rig will now be transported to Dundee using the OHT Hawk heavy lift vessel, where it will undergo final testing and will be crewed and equipped for its deployment onto the Bentley field.

Preparations for the submission to the Department of Energy and Climate Change of a Field Development Plan for the Bentley field remain on track and are consistent with the rig deployment timing.