.

Steady rise this morning.

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Good to see some blue sky,we all know in 6 months time this SP will be double if not more once that oil is flowing

Agree markymar

Any reason for the rise, other then its Thursday.

News due?

Would be good to here funding is sorted,looking good on level 2 for a leg up 240 v 179 on a 10%

Something is going on ?

News of DECC should be soon there just crossing the boxes at moment So the public consultation period has ended,news within 21 days.


https://www.og.decc.gov.uk/environment/permits/eis/eisr004.htm

http://bit.ly/qMGJdx
Report Date: 30 Aug 2011 06:45
THE OFFSHORE PETROLEUM PRODUCTION AND PIPE-LINES
(ASSESSMENT OF ENVIRONMENTAL EFFECTS) REGULATIONS 1999
Listed below are details of the environmental statements received by the Department of Energy and Climate Change (DECC) for projects which are subjected to environmental assessment under the above-mentioned regulations. The purpose of this list is to show the availability of these environmental statements and the contact details for information.

It remains the duty of the company undertaking the project to publish information concerning these projects in appropriate newspapers required by clause 9(f) of the regulations.

Those entries in blue italic are for environmental statements where the public notice period has ended but the consents have not yet been issued
Date ES Recieved Company Project Type Project Name UKCS Block DECC Project Number Contact Name and Telephone Number
19 Aug 2011 BP EXPLORATION OPERATING COMPANY LIMITED Well 213/25c W/4123/2011 Hilary Mulligan - 01224 832088
15 Aug 2011 HYDROCARBON RESOURCES LIMITED Development Rhyl Development 113/27b D/4122/2011 John Watson - 01524 864010
29 Jul 2011 ENDEAVOUR ENERGY UK LIMITED Development Rochelle West Development 15/26b D/4116/2011 Hywel Evans 01224 202853
27 Jul 2011 TALISMAN ENERGY (UK) LIMITED Development Godwin Development 22/17 D/4092/2010 Julie Cross - 01224 353147
22 Jul 2011 XCITE ENERGY RESOURCES LIMITED Development Bentley Development 9/3b D/4120/2011 Jacco Veenboer, 01314495030

http://markets.ft.com/research/Markets/Tearsheets/Forecasts?s=UK:XEL

Have bought a few in to XEL today 1.34p the book looks strong lets see if am correct.

you're a very brave man to be putting new money long into these markets

Just a punt today Cynic,the booked looked good but now starting to change.....off out for a little will see what the afternoon brings have stop loss in place at 131p

No more money going into this market.

Still holding from yesterday....looks like they are doing a tour as down in London on the 26th to 28th Sep as well.


Aberdeen Evening Lecture
http://www.pesgb.org.uk/events/event-95/
The Copthorne Hotel 122 Huntly Street Aberdeen AB10 1SU

September 20

Thank you to Xcite Energy Resources Ltd for sponsoring this PESGB Aberdeen Evening Lecture


Tuesday 20th September 2011

Start 6.30pm

The Bentley Field, UK North Sea, Block 9/3b: Delivering a commercial flow rate in a heavy-oil field.

Barny Brennan (Xcite Energy Resources Ltd)

The Bentley field is situated in Block 9/3b on the East Shetland Platform in the UK sector of the North Sea. It contains around 600 MMbbl in-place of heavy (10 to 12o), viscous oil, within a four-way dip closure at Upper Palaeocene, Dornoch sandstone, reservoir level. The field is defined by 6 well penetrations and 3D seismic.

The field was discovered in 1977 by Amocos 9/3-1 well and was further appraised in the mid-1980s with Conocos 9/3-2A and 9/3-4 wells. None of these earlier wells succeeded in flowing oil to surface and the acreage was relinquished and remained unlicensed until 2003 when Xcite Energy was awarded the acreage as a Promote License in the 21st Round.

Xcite raised the funds for an appraisal well and converted to a traditional license prior to drilling the vertical 9/3b-5 well in 2007. The well confirmed an 87 feet oil column and was the first on the field to flow hydrocarbons to surface. The well flowed at a modest rate of 125 bopd (due to extremely high skin) but provided a wealth of reservoir, fluid and flow data that convinced Xcite that commercial flow rates were achievable on Bentley and that an economic field development would follow.

Prior to undertaking a development Xcite decided that a further appraisal well was required in order to: a) physically demonstrate commercial rates, b) demonstrate that horizontal drilling in friable heavy-oil reservoir was achievable and c) provide data from which to better design a subsequent development.

In October to December 2010 Xcite drilled, completed and tested the 9/3b-6 pilot hole and 9/3b-6Z horizontal sidetrack. The horizontal bore resulted in approximately 1800 feet of excellent reservoir section with 100% net to gross. The subsequent multi-rate flow test achieved a final stabilised rate of 2,900 bopd which was at the highest end of expectations and more than was required to show commerciality. This has paved the way for the field to enter into a staged development.

This presentation focuses on how the successful flow test was delivered and in particular how geosteering was used to deliver over 1800 ft of high quality reservoir section within the unconsolidated Dornoch reservoir.

Whats al those 666 deals about?

Must be something to do with the devil and the deep blue sea!

Was quietly optimistic we might have seen a rise in the price today as the last candle was a White Spinning Top but I guess the bulls have retreated.

These seem to be having a good day (I no longer hold).

Xcite Energy draws down 6.9m on SEDA

StockMarketWire.com

Xcite Energy has drawn down 6.9m on its standby equity distribution agreement with YA Global Master SPV Ltd (Yorkville).

The draw down has been undertaken at a price of 1.2816 per share and will result in the issue of 5,383,894 ordinary shares to Yorkville.

This funding will be used as future working capital for the company and to progress towards first oil from the Bentley field.

At 3:15pm: (LON:XEL) share price was +9.63p at 141.63p

Slightly earlier announcement highlights Director buying.

Xcite Energy Limited
("Xcite Energy" or the "Company")

Drawdown on Equity Line and Director's Share Purchase

Xcite Energy announces that it has drawn down on its Standby Equity Distribution Agreement ("SEDA") with YA Global Master SPV Ltd ("Yorkville") as announced on 28 September 2010 in the amount of 6.9 million (CAD$10.9 million). This draw down has been undertaken at a price of 1.2816 (CAD$2.03) per share and will result in the issue of 5,383,894 ordinary shares of no par value in the capital of the Company (the "SEDA Ordinary Shares") to Yorkville. This funding will be used as future working capital for the Company and to progress towards first oil from the Bentley field.

Subject to the terms of the SEDA and except in accordance with Canadian securities laws and with prior written approval of the TSX Venture Exchange, the SEDA Ordinary Shares may not be sold or otherwise traded on or through the facilities of the TSX Venture Exchange or otherwise in Canada or to or for the benefit of a Canadian resident until the date that is four months and one day from the date of issue.

Application will be made for the admission to AIM ("Admission") of the SEDA Ordinary Shares upon approval of the share issue by the TSX Venture Exchange. The SEDA Ordinary Shares will rank pari passu with the Company's existing issued ordinary shares (each, an "Ordinary Share").

The Company has engaged Arbuthnot Securities Limited ("Arbuthnot") to assist in the placing of the stock acquired by Yorkville pursuant to the SEDA, for which it will be paid a fee of 51,099 (CAD$80,821). Arbuthnot, as agent for the purchasers, has agreed to acquire 2,795,242 shares acquired by Yorkville pursuant to the SEDA, including stock to be acquired by a director of the Company.

The Company has received communication that one of its directors, Rupert E. Cole, intends to subscribe through Arbuthnot for 801,666 Ordinary Shares of the Company at a purchase price of 1.2816 (CAD$2.03) per share on the date of closing of the issuance of the SEDA Ordinary Shares to Yorkville, following which Mr. Cole will hold an aggregate of 7,000,000 Ordinary Shares.

Subject to approval by the TSX Venture Exchange, following the issue of the 5,383,894 Ordinary Shares the total Ordinary Shares in the Company in issue will be 183,656,292.