Xcite Energy Limited (XEL) is a heavy oil appraisal and development company, with current interests in three licence blocks in the UK North Sea, all of which are held with 100% working interests through its wholly-owned UK subsidiary, Xcite Energy Resources Limited (XER).

Its primary focus is in bringing the Bentley oil field on Block 9/3b into production and in doing so becoming a significant independent oil producer in the North Sea by 2014.

Business Strategy

Bring the Bentley field into commercial production

Grow its reserves base from the existing 116 million barrels of oil equivalent
(“MMboe”) of 2P reserves through the conversion of its prospective resources base

Grow its resources base further through drilling activity on Blocks 9/3c and 9/3d

Employ enhanced oil recovery processes (“EOR”) to further increase its resource base

Increase its asset portfolio through license rounds and asset transactions whilst utilising its heavy-oil expertise to leverage opportunities


http://www.xcite-energy.com/

2012 in Review and the way ahead Robert Cole Video

The London Evening Standard - BUY

Xcite Energy

Snap up shares in Xcite Energy, Liberum Capital advises. The broker thinks its Bentley oilfield is on the cusp of development and “discussions with potential farm-out partners and lending banks are ongoing”. It gives shares, which at present are about 103p a pop, a 340p target





http://www.standard.co.uk/business/markets/market-roundup-footsie-on-retreat-but-upbeat-petrofac-claws-back-ground-8785846.html

sp getting a little excited this morning for no clear reason except perhaps delayed reaction to above old news .... volume is good but not massive

Just nice to see the SP move Cynic

Graph looking canny, interesting what happens today if new uptrend

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Can't hear it in these neck of the woods. Turn up the volume. lol

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mnamreh, To me Sounds like a slip up. The company has issued no rns.

And no sp movement.

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With an rns may have been nearer 150p today.

About time something came about to XCITE us, well nearly. lol

Interesting post on other forums looks like first possible farm out leak, info now removed from consultants cv could be fireworks monday ?? DYOR

More a box of damp sparklers and wet matches. :-))

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mnamreh I thought you agreed that you would stop deleting posts ?

I for one would like to read them.



Looking a bearish chart at moment

Looking to good so bought a few at 116.75

Its in breakout

Interesting in Shares this week in short Broker Liberum Capital carries estimated NAVs for Xcite of 340p respectively. So a deal at the same level as the Bridge bid would infer take -out price of 323p.

I had hoped for more. My holding is at 5000 @150p