.

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

July 28, 2011
http://oilbarrel.com/news/xcite-energy-makes-steady-progress-at-bentley-as-investors-await-news-of-financing-deal
Xcite Energy Makes Steady Progress At Bentley As Investors Await News Of Financing Deal

It was always going to be hard for Xcite Energy to replicate the successes of 2009 and 2010, when the AIM-quoted heavy oil specialist delivered share price gains of 800 per cent and 700 per cent respectively. That kind of stellar performance ensured the company a loyal tribe of followers, although in recent months their allegiance to a heavy oil development in the North Sea has waned after a reserves report, issued in May, triggered a share price tumble from which the shares have yet to recover.
The shares may be weaker but Xcite, which is also listed on the TSX Venture Exchange, remains on track to develop the Bentley heavy oilfield in the North Sea. The recent newsflow may not be of the kind that drove the share price to record highs late last year ahead of the 6z horizontal well, which exceeded all expectations. The 6z well was widely considered the key test of whether Bentley would be a commercial goer and it past this test with flying colours, proving the reservoir had high porosity, high permeability and high productivity, with the maximum flow rate of 2,900 bpd beating pre-drill guidance.

Mays reserves report gave the company 2P reserves of 28 million barrels for the northern part of the field. This is much lower than the big reserves numbers often associated with Bentley (a potential P50 reserve of 200 million barrels with 750 million barrels of oil-in-place) but the number was based on data from two wells in the northern part of the field, which is the subject of a planned first stage production (FSP) project.

There are also contingent resources for this core area of the field, which would be developed in second stage production (SSP) project. These add up to 73 million barrels on a low estimate, 87 million barrels on a best estimate and 101 million barrels on a high estimate basis. These contingent resources would convert to reserves once the SSP is sanction and delivered no further appraisal work is required because of the work done to date. None of the reserves and resources numbers in what seemed to be a conservative reserves report included the impact of enhanced oil recovery techniques, which is significant given that this is heavy 10-12-degree API crude.

The key thing about the May report is that it provided the 271 million market cap company with a baseline to enable it to secure debt financing to proceed with the FSP. The newsflow now coming from Xcite all points to a project that is moving towards first production, with the company this week submitting its Environmental Statement for the FSP to DECC. And earlier this month, Xcite confirmed that the newbuild Rowan Norway deepwater jack-up has been delivered from the shipyard in Singapore to rig owner Rowan Companies. The rig will now mobilize to Dundee for final testing ahead of its deployment on the Bentley field, expected in Q4 2011. This is good news as it removes uncertainty that the newbuild may be held up in the shipyard; project overruns on newbuilds are not uncommon in the industry.

But other uncertainties remain for investors, not least how the project will be fully funded, but also the terms of its agreements with contractors involved in the development the Bentley Alliance. These uncertainties are likely to continue to weigh on the share price as investors are keen to see a clear route to the realization of value from this large heavy oil deposit. In the meantime, Xcite continues to make regular drawdowns on its 100 million equity line with Yorkville, most recently calling on another 4.2 million at a price of 1.567 per share. The shares were trading at 1.59 on Thursday.
--------------------------------------------------------------------------------

makes a change to read a balanced report from oilbarrel

RNS Number : 2600L

Xcite Energy Limited

29 July 2011

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

TSX-V, LSE-AIM: XEL

29 July 2011

Xcite Energy Limited

("Xcite Energy" or the "Company")

Results for the 3 Month Period Ended 30 June 2011

Xcite Energy is pleased to announce its results for the 3 months ended 30 June 2011.

The second quarter of 2011 has seen important progress in the Company's plans for the First Stage Production ("FSP") programme on the Bentley field, with the Rowan Norway harsh environment, deep water jack-up rig being delivered on time to Rowan in Singapore from the Keppel FELS construction yard. 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 final submission to the Department of Energy and Climate Change ("DECC") of a Field Development Plan for the Bentley field remain on track and are consistent with the rig deployment timing.

Financing discussions are progressing satisfactorily, with a number of different options being assessed in parallel with the submission of the Field Development Plan to DECC.

On 26 July 2011 the Company announced that a submission had been made to 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.

The completion of the Reserves Assessment Report ("RAR") on the Bentley field and the announcement of its principal findings as published by the Company on 10 May 2011 and followed by the announcement of the filing of the Material Change Report on 17 May 2011 has, in management's opinion, de-risked the field significantly and greatly enhanced its value by upgrading it to reserves status.

The RAR focused on the reserves accessed from a single drill centre in the northern area of the field relating to the FSP, together with the Second Stage Production ("SSP") from the same drill centre. Together the FSP and the SSP comprise the core area of the reservoir.

The RAR assigned a NPV10 (after tax) value per barrel as approximately $14.20 for the 28 million barrels 2P reserves in the FSP, or in aggregate $396 million. The RAR assigned a NPV10 (after tax) value per barrel as approximately $11.00 for the 87 million barrels of "best" estimate contingent resources in the SSP, or in aggregate $961 million.

As no technical contingencies remain with respect to the contingent resources in the SSP, the RAR confirms that these would be converted to an equivalent volume of reserves following the Company's decision to pursue the development of the SSP and the approval by DECC of its development plan for this purpose. On this basis, the Company intends to seek approval from DECC for the FSP and SSP which, if obtained together with appropriate funding, would enable it to (i) move forward with the FSP; (ii) move forward with the SSP at an appropriate time that suits its business objectives; and (iii) upgrade the SSP contingent resources to reserves status.

Richard Smith, Xcite Energy Chief Executive Officer, commented:

"We are pleased that the Reserves Assessment Report has provided independent third party validation of the value and commerciality of the Bentley field, following the excellent outcome from the successful 9/3b-6 and 6Z wells. This re-confirmed management's belief in the commercial value of Bentley and its potential as one of the largest undeveloped fields in the UK sector of the North Sea. We are making significant progress towards the First Stage Production which, if successful, will be a key milestone in our objective to determine full field reserves in due course and deliver significant value for shareholders."

The Company's unaudited Financial Results for the 3 Months Ended 30 June 2011 can be found at the following link:

http://www.rns-pdf.londonstockexchange.com/rns/2600L_-2011-7-28.pdf

.

XEL - Xcite Energy on track to begin North Sea field development

July 30, 2011
OIL exploration company, Xcite Energy is gearing up to begin commercial production at what may be one of the largest untapped oil field in the North Sea. Xcite told shareholders today in a quarterly update talks are going well with ...

region seas north sea

Wednesday 03 August, 2011Xcite Energy Limited
Submission of FDP for Bentley Field
RNS Number : 6095L
Xcite Energy Limited
03 August 2011



TSX-V, LSE-AIM: XEL





3 August 2011

Xcite Energy Limited

("Xcite Energy" or the "Company")



Submission of Field Development Plan for Bentley Field



Xcite Energy is pleased to announce that the final draft of the Field Development Plan ("FDP") for the Bentley field has now been submitted to the Department of Energy and Climate Change ("DECC").



The FDP outlines the proposed development plan for the Bentley field, which addresses the first stage production programme in detail and also references the second stage production programme, which together encompasses the core area of the reservoir.



The Company will respond to any issues raised by DECC in the coming months, in expectation of achieving approval in due course.

Thursday 04 August, 2011Xcite Energy Limited
Option Award - Directors,Management & Project Team
RNS Number : 7152L
Xcite Energy Limited
04 August 2011



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION



TSX-V, LSE-AIM: XEL





4 August 2011

Xcite Energy Limited

("Xcite Energy" or the "Company")



Option Award to Directors, Management and Project Team



Xcite Energy announces the award of an aggregate of 1,850,000 options to purchase ordinary shares of the Company to the Directors, members of the Xcite Energy Resources Limited (the Company's wholly owned subsidiary) management team and to certain members of the Bentley field project team.



The options, which vest immediately, were granted under the terms of the Company's share option scheme by reference to the closing price of the Company's ordinary shares on 3 August 2011. All options have an exercise price of CAN$2.30 (1.46) per ordinary share and are exercisable for a period of five years. This award is made in recognition of the significant progress made to achieve submission of the final draft of the Field Development Plan for the Bentley field to the Department of Energy and Climate Change.



Following these option awards, the Directors of the Company have the following aggregate number of ordinary shares under option:





Option award now being made
Aggregate ordinary shares under option








Roger Ramshaw
100,000
690,000








Gregory Moroney
100,000
490,000








Timothy Jones
100,000
590,000








Scott Cochlan
100,000
590,000








Richard Smith
100,000
2,521,000








Stephen Kew
100,000
2,521,000








Rupert Cole
100,000
2,521,000













ENQUIRIES:



Xcite Energy Limited








+44 (0) 1483 549 063

Richard Smith
Chief Executive Officer



Rupert Cole
Chief Financial Officer










Oriel Securities (Joint Broker and Nomad)
+44 (0) 207 710 7600

Emma Griffin

Simon Edwards
Partner

Partner










Morgan Stanley (Joint Broker)


+44 (0)207 425 8000

Andrew Foster
Managing Director










Pelham Bell Pottinger


+44 (0) 207 861 3232

Mark Antelme

Henry Lerwill


Director




Paradox Public Relations


+1 514 341 0408

Jean-Francois Meilleur
Consultant











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.



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.



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.






This information is provided by RNS
The company news service from the London Stock Exchange

END

unbelievable,

Could this of not waited. Not the time in my opnion. The sp is in shi- and they are giving out rewards. When will they learn.

We are talking silly prices all round now.....