.

Do we have an exact spud date yet? It is my aim to start buying these about 2 weeks before spudding with a price target of 125p pre first drill test results.

Not yet, but soon.....better buy on tuesday....nothing is certain but this looks a good bet....

'better buy on tuesday'

I did better as i bought today, this got buy buy buy all over it on the run upto spudding. Should be a goer next week especially after Dow flew tonight.

Spud will be late September IMO.

Thanks i'll monitor share price for movements, done the research and obviously oil is there it's just a case of how well they can get it to flow - quite a team behind XEL though and also experts from BP and AMEC. I've seen the fanciful topline targets of 700-1400p so well tempted to get stuck in big pre spud.

Thanks i'll monitor share price for movements, done the research and obviously oil is there it's just a case of how well they can get it to flow - quite a team behind XEL though and also experts from BP and AMEC. I've seen the fanciful topline targets of 700-1400p so well tempted to get stuck in big pre spud.

certainly should rise ahead of spud one would have thought but of course we need to see a more stable stockmarket on the whole. I can see the excitment building here the next few weeks and a lovely bullish statement with the last rns:

We look forward to a transformational few months as we seek to demonstrate the commercial value of the Bentley field,"

And it is isable.....does look good .......plenty of bloggers here in this one.....

http://proactiveinvestors.co.uk/companies/news/20529/xcite-energy-chief-executive-looks-ahead-to-transformational-few-months-20529.html

RNS dated 13/8/10 issued by NPE states Ocean Nomad spudded Kraken and full drilling programme will take 45 days approx so Bentley unlikely to be spudded much before end of september, so don't get too excited yet!

insane buying all of a sudden, is something going on? What's chances of a bidder emerging pre drill? Sounds daft but definitely plausible concidering valuation per bbl.

Arbuthnot waxing lyrical with a buy note, target way eay above current price :))

Arbuthnot - 31/8/10:

Xcite has successfully completed a supplemental fund raise of 5.8m to enhance its next appraisal well on the Bentley field. The new programme should provide greater certainty on the outcome of the horizontal well and subsequent flow test which is due to spud in September. A positive result from the flow test should yield sufficient data to move the asset from contingent resources into reserves and provide the basis of the first-stage production (FSP) programme. Post blackout, we continue with our Strong Buy rating and introduce a 114p target price (previously 123p) to reflect the placing.

Drilling is due to start later this month. This is a watershed well for the company. A positive result from the flow test will move it from resources into reserves and should provide the basis for moving the field into development. The well is expected to take approx 60 days to drill and includes a three to five-day flow test.

Latest note:

Low - 114p
Base - 355p
High - 659p

*$80 boe

Well i'll take the median price 0f 355p for starters;-)
Maybe this will start alerting a few to the potential multibagger that we have right in front of us - a multibagger in months not years as well.

Your ramping would be more productive on advfn CR !

needs to cross 90p before anyone should get excited or may be xcited :-)

from advfn cr thread ravey!

Upside for this share is amazing - Wellington West note gives unrisked value 0f $22 CAD with potential for more -

Overall, we believe Xcite Energy has the potential to generate significant
shareholder value over the next 12 to 36 months as the company reaches key
milestones in the Bentley development program, with first oil in 2011 &
longer-term full field development. We view Xcite Energy as an attractive
early stage play on heavy oil in the offshore space that carries moderate risk and
the potential for significant upside value in both a partial & full success case at
their Bentley field. Our unrisked EMV/sh value for Bentley is ~$22.01 and we
see potential for additional upside to this number

http://www.proactiveinvestors.co.uk/companies/news/20634/xcite-energy-is-a-development-story-not-an-exploration-play-says-arbuthnot-20634.html

Up through 80p now.

yes looking for an approach to 100p next few days. I've just bought some PELE as welll, something on the brew there i guess.