.

Its going up, thats all i am worried about., sod charts .

"sod charts" is not an unreasonable attitude provided you remember that a lot of peeps and computer progs follow them

After what you stated yesterday. I only said it to wind you up cynic.

Great to see some blue today.

Needs volume?

16.34hrs - 2,260000 sell ? 3.7 million

unlikely though i see total volume was >6m which is a hell of a lot

You did not sell out then cynic, 3.7 million.lol

Isnt it about time that the BOD gave specific info as to what the SEDA drawdowns are being used for or is it just for the ongoing running costs?

regards

Agree. It could be for the shareholders bubbly when the sp hits 5 +
some pr would not go a miss.

Investors need more information from the bod, how can the sp rise ? Other investors
on interactive investor ll are asking the same. How do they think an investor can make a decision to invest in XEL.

Not just some PR

The BOD have had 16.5 million in SEDA drawdowns in the last month, yet we have had no confirmation as to what exactly they need it for.

The danger being, investors money will not be put into xel and money will walk out the door. There are some very good other oil shares.

To be honest, I dont think XEL will be PI funded, with the alliance in place and yorkville onside, I think we will be scrabbling for the scraps.

The only other oily I would (and am) look at the moment is MXP and GKP.

TSX trading finishing very close to the opening

Very low volume though

RNS Number : 0292L

Xcite Energy Limited

26 July 2011

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

TSX-V, LSE-AIM: XEL

26 July 2011

Xcite Energy Limited

("Xcite Energy" or the "Company")

Submission of Environmental Statement

Xcite Energy is pleased to announce that submission has now been made to the Department of Energy and Climate Change ("DECC") of the Environmental Statement for the planned First Stage Production on the Bentley field.

This is a standard DECC requirement in connection with, but not simultaneous with the submission of a field development plan, which requires that a public document is made available for consultation and comment for a period of four weeks following formal publication by the Company in selected news media. Such publication is expected to be undertaken shortly.

The purpose of the Environmental Statement is to provide an assessment of the potential environmental effects that may arise from the proposed operations on the Bentley field and to identify measures which will be put in place to minimise these effects.

are we there yet?

are we there yet?

---------------------------

Got to one of my all time favorite questions, sad that at nearly 50 yrs old a kids cartoon question raises such a smile....................

no we are not there yet

Explorer reassures ministers in environmental statement for field

By Ross Davidson

Published: 27/07/2011

North-east oil and gas explorer Xcite Energy has told the UK Government that it would be impossible for a surface oil spill to happen at its Bentley field.

In an environmental statement submitted to the Department of Energy and Climate Change (DECC), Xcite said because the oil in its North Sea discovery was heavy crude a surface blowout could not happen.

The document filed with the DECC and published yesterday assessed the impact the first stage of production at the field would have on the environment and set out measures Xcite would take to mitigate these effects.

Xcite said the well would not blow out to surface under any circumstances.

The firm said one of the reasons it was impossible was that the heavy oil would become substantially more dense as it neared the surface, creating a viscous plug and preventing flow. Xcite added that, even if a blowout was physically possible at Bentley, the flow of the leak would rapidly decrease to zero.

The document does not make it clear if there were other forms of blowout which could possibly happen at the field, which could hold up to 200million barrels of recoverable oil.

Environmental groups have previously targeted operators working in UK waters over fears the region could suffer a similar disaster as that seen in the Gulf of Mexico in April last year when 11 people were killed.

BPs Deepwater Horizon exploded in April 2010, spilling millions of gallons of oil into the sea. The catastrophe was caused when a blowout preventer (BOP), designed to stop oil leaking to the surface, failed.

Last year, Greenpeace campaigners blockaded a Chevron drilling ship bound for the Lagavulin field west of Shetland and warned of the dangers of deepwater operations.

Xcites report said a BOP would be put in place before production began. It added: Given the low probability of an oil spill occurring, the preventative measures in place to reduce the likelihood of a spill, and the response procedures set out in the event of a spill, the overall residual environmental risk posed by the proposed drilling and production operations are deemed to have been reduced to an acceptable level.

Anadarko Petroleums top lawyer, Robert Reeves, said yesterday the oil and gas firm was open to discussing a settlement with BP over its interest in last years major Gulf of Mexico oil spill.

Anadarko owns 25% of the well that ruptured in April last year and caused the world's worst offshore oil spill. It has argued vehemently that the spill is BP's fault and it has no liability.



Read more: http://energy.pressandjournal.co.uk/Article.aspx/2368488?UserKey=#ixzz1THDKPTUW