.

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.

Xcite Energy draws down 6.9mln; shares climb as CFO ups stake
4:08 pm by Giles Gwinnett


http://www.proactiveinvestors.co.uk/companies/news/33065/xcite-energy-draws-down-69mln-shares-climb-as-cfo-ups-stake-33065.html


The new funds will be used for future working capital as the company continues its work to bring the Bentley oilfield in the UK North Sea into production
Shares in Xcite Energy (LON:XEL, CVE:XEL) climbed over eight percent this afternoon as it announced a 6.9 million draw down of its equity-line facility from Yorkville Advisors.

The main reason for investors' enthusiasm is down to the fact that chief financial officer Rupert Cole will buy around 1 million worth of the new shares.

Cole intends to buy 800,000 shares, from Arbuthnot Securities, at 128.16 pence each taking his total stake to 7 million shares, which equates to 3.8 per cent of the company.

The new funds will be used for future working capital as the company continues its work to bring the Bentley oilfield in the UK North Sea into production.

Today, it said it has issued 5,383,894 new shares to Yorkvilles YA Global Master Fund, priced at 1.2816 per share (C$2.03) - a discount to yesterday's closing price of 132 pence per share.

Xcite has arranged for broker Arbuthnot Securities to sell on 2.79 million shares issued to YA, on the fund's behalf.

Xcite Energy has started a programme to start first stage production on the Bentley oil field by the end of this year and this is being funded through a 100 million equity-line facility a pre-agreed source of capital, whereby new shares are issued at the companys discretion which was initially arranged with Yorkville Advisors in September last year.

Last month, the oil firm told investors it had submitted the final draft of its field development plan for the Bentley field to the UKs Department of Energy and Climate Change (DECC).

The document outlined the proposed development plan for the Bentley field. It addressed the first stage production (FSP) programme in detail. And it also references the second stage production (SSP) programme.

Xcite said that it will respond to any issues raised by the DECC in the coming months and it expects to get approval in due course. The two stage development programme encompasses the core area of the Bentley reservoir, which was examined in Mays third-party reserve assessment report.

The pivotal report gave important reserve and resource figures for the FSP and the SSP. At the moment only the FSP has reserve status oil, with 22 million barrels in 2P reserves. The report also estimated the SSPs contingent resources, between 73 and 101 million barrels of oil.

As at 4.02 pm, the firm's shares were up 8.71 percent - changing hands at 143.5 pence.

KeywordCompanyEPIC/TIDMSEDOL/ISIN Print Thursday 15 September, 2011Xcite Energy Limited
Additional Listing and Total Voting Rights
RNS Number : 3465O
Xcite Energy Limited
15 September 2011





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



TSX-V, LSE-AIM: XEL







15 September 2011



Xcite Energy Limited

("Xcite Energy" or the "Company")



Additional Listing and Total Voting Rights



Further to the announcement in relation to the draw down on the Standby Equity Distribution Agreement issued on 13 September 2011, the Company announces that it has received conditional approval of the share issue by the TSX Venture Exchange and it has therefore made an application for the admission to AIM ("Admission") of 5,383,894 ordinary shares of no par value in the capital of the Company (the "New Ordinary Shares").



The New Ordinary Shares shall rank pari passu with the Company's existing issued ordinary shares of no par value ("Ordinary Shares") and dealings are expected to commence on 19 September 2011.



Following Admission, the Company's enlarged issued share capital will comprise 183,656,292 Ordinary Shares with one voting right per share. There are no shares held in treasury. The total number of voting rights in the Company is therefore 183,656,292.



This figure of 183,656,292 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules.

http://thesharehub.com/?p=3840

Talk of rig being in Scotland Fri/Sat.

Will there then be friggin` in the riggin`?

Thank you to raritan on interactive ii, our rig in Scotland.



http://dl.dropbox.com/u/14595286/XEL%20Rig.JPG

ROWAN COMPANIES, INC.
OFFSHORE RIG FLEET AND CONTRACT STATUS

As of September 29, 2011

Rowan Norway
http://www.rowancompanies.com/_filelib/FileCabinet/PDFs/Offshore-CM.pdf


Rig arrived in the UK North Sea for commissioning and is expected to commence operations in December 2011.

Contract is for combined drilling and production operations with an initial term of 240 days followed by a one year priced option in the low $250s. Production fee of $1 per barrel of oil produced is also payable during the initial term.

This is looking decidedly grim.

Statoil Takeover would be good to hear.

07 Oct Xcite Energy Ltd XEL Evolution Securities Buy 122.63 322.00 322.00 Reiterates

All the ducks are lined up.

http://moneyam.uk-wire.com/cgi-bin/articles/201110101533559003P.html

Wednesday's most followed: Xcite Energy
1:19 pm by Sergei Balashov

http://www.proactiveinvestors.co.uk/companies/news/34263/

North Sea explorers Xcite Energy (LON:XEL) emerged among the most discussed stocks as traders debated whether their current market value fully reflected their potential.

Xcite investors generally blamed the recent decline in its share price on recent market volatility. Some posters pointed out that the XEL share price has been moving in line with the FTSE 100 over the past few months, arguing that the markets have been oblivious to the potential of Xcites Bentley field in the North Sea.

Some posters drew attention to the fact that the company has recently made a few announcements that addressed some of the main concerns that could be depressing the share price.

In an update that was released on Monday, Xcite said it is currently in discussions with potential lending banks for the project financing.

In the same statement, Xcite reported that the jack-up rig, which will be used to establish first production at its Bentley field, has now arrived in Dundee.

Importantly, Xcite said it continues to have positive discussions with the UK Department of Energy and Climate Change (DECC) over the approval process for the field development plan, which was submitted in August

Not ventured out of the red today