.

Should not be long before we get the rig now, then she will move !

Yes, certainly will. Could easily see over a 100% gain here before year end......hopefully over 200% ;)

Has it been tipped today.

No, perhaps more people realise this could well go up 400% by year end, or drop 50%.

If you are not in you cannot play.........

you can't lose money either!

Could well be end of NPE drilling thats kick starting things today, news might be leaking the rig is complete for NPE and will now get ready to move to Bentley for XEL.

Most likely if you ask me.

am quite tempted to buy some more, but it's an MM only stock which always makes me nervous and also only smallish (5k) lots offered ..... that said, sp has certainly shot up on heavy (for XEL) volume

Does it matter if you pay half a penny more or so for such a rising share ?....not to me it doesn't....

it's not so much the odd copper over the odds that concerns, but the intrinsic lack of transparency and liquidity, especially if things turn sour

It looks good to me.... hold....and trade....

rig still with NPE drilling sidetrack.

Latest broker note is here by the way :

http://www.arbuthnotsecurities.co.uk/Research/id/4330

All set to go and "Ready for action".

.

that note was dated 31/8!

Yes, its 16 days old.

Thats quite likely the "latest broker note".......... as I said.

Your point being cynic ?

Impressive rise...but I was expecting 100p before spudding takes place....

that that news has already been noted and discounted

Good post here from a different BB :

I'm a seller at 20 in 2015, though I suspect that will not be enough

As Wellington West Capital Markets put it (16June2010) :-

Further upside exists for EOR techniques utilized within the field, which we estimate could bring this recovery factor up to ~50% (345 mmbbls recoverable) based on the most-likely structure size alone.

If you include the eastern Bentley upside structure (Exhibit 8) this figure could be as high as 576 mmbbls of recoverable resource. The EOR techniques in question could include polymer injection, steam soak, hot water flood & fireflood.

Re the "Single Asset" - if XEL management do become bored with Bentley they might chose to develop the four-way dip-closed Brunel Prospect, or either of the two Jurassic leads - Jurassic West and Jurassic South East.. (DYOR!!)

Xcite is a work in progress, the realisation of a lifetimes ambition for the BoD.

The point that Rupert Cole, Xcite CFO, was making is that the Bentley asset is significantly undervalued. Broker recommendations indicate that even this $2 billion price-tag probably grossly under-sells Xcite.

Wellington West Capital Markets - 16June2010 - Our unrisked EMV/sh value for Bentley is ~$22.01 and we see potential for additional upside to this number.

Results - from the 9/3b-R well - RNS + Competent Persons Report (CPR) will ensure that the share price reaches a sufficient level (3 - 4+) for the EPS to be funded without excessive share dilution.

XEL declares the cost of the EPS to be $100 million with funding currently anticipated to be, 50:50, equity to borrowing.

The $50million equity required, if based on a 4 (US$6.14) placing price, will ensure no more than 8.14 million shares need be issued. This taking the total shares in issue to a not excessive circa 153 million.

Even against Rupert's very modest $2bn valuation that gives us $13.07/share.

Xcite with the support of the Bentley Alliance will find easy backing for the $50m borrowing. Has any share placing for any UK oil company ever failed to be fully subscribed or oversubscribed since 2008? (despite the credit crunch!!)

The current enhanced 9/3b-R well programme has reduced the EPS capital requirement.
Re-entry and early production have now been designed in to allow Oil extraction to commence, on 9/3b-R well within weeks of EPS start-up in 2011.

The EPS development breaks even after six months and is in profit at the end of the first year.

EPS producing 15,000 barrels of oil a day, even at the heavily discounted price of $68, would give a gross income of 1.02million per day.

Costs of production are fixed by the Bentley Alliance at $40 per barrel initially and $33 per barrel thereafter.

This will leave gross profit after cost of sales of
.42million per day increasing to
.525million per day in the latter half of 2011.

The current modest Headquarters costs and the finance costs of a very limited amount of debt will hardly impinge on something in excess of $172 million gross profit in 2012.

The new UK - Heavy Oil Tax Incentive - a field allowance of circa 160m pa., up to a total of 800m, for heavy oil fields, effectively adds another c.$100m of NPV over the life of the (Bentley) project.

The FPS scheme will be self funded from the profits generated.

where does he find um.,.

sp romping up this am, buy buy buy before it gets well over a .

I was just thinking that....what a ramper, glad to had him on our side (or her)....