.

it is very strange and with very high volume too - not explained remotely by proposed site visit by media

Bought it part back.....think this has more legs yet.....did not expect everybody to pile in this morning....

i didn't cos i'm a smartarse and bought in from 26/1 through 12/2

Xcite Energy (LON:XEL) was the most popular search on google finance UK today and its shares were up over 10 per cent in morning trade. Excitement has been building around the company as it moves towards the first development well at Bentley in the North Sea. Today, the company said it was hosting a site visit for media and analysts to the Rowan Norway Jack-up Rig currently moored in Dundee, ahead of its deployment to the field. As at 10.33, Xcite shares stood up 10.77 per cent, to change hands at 144 pence each. The firm was also one of the most actively discussed stocks on today's bulletin boards. This month, the firm told investors that the Department of Energy and Climate Change (DECC) had confirmed its support for the group’s revised field development plan. And it said it would get the regulatory green-light to start phase 1 of the oilfield development in the near future. Last Friday, it completed the second part of its £25.5 million private placing.

They say they have news to release at the meet, wonder if its good?

it's not going to be bad news, but will it be sufficient to support the recent rush of blood?

=================

rns actually stated
An overview presentation, containing no new material information, will be given as part of the visit

Yes it does but not sure it did when I first read it at 9` ish?
But I could be wrong/.

Markets: North Sea rumours Xcite the market

By Peter Ranscombe
Published on Thursday 16 February 2012 03:23

SHARES in Xcite Energy jumped more than 15 per cent yesterday amid speculation that the Aberdeen-based oil explorer is preparing to release a statement to the stock market.

The firm, which is awaiting approval from the UK government to begin drilling on its Bentley field in the North Sea, will launch an oil rig from Dundee today and will present details of its production plans.

Xcite closed up 17.5p at 130p, just days after analysts at Seymour Pierce named the firm – alongside Aberdeen-based peer Faroe Petroleum – as its “top picks” in the North Sea.

http://www.scotsman.com/business/markets_north_sea_rumours_xcite_the_market_1_2119170

moderately surprised that there is no rns, even if only to say the usual "the directors have no idea why the movement etc etc"
meanwhile, i note the MMs are all lining up to buy at 154 and all bidding for 10k shares, though it's a racing certainty that that is an iceberg

£2 sp by close Friday ?

Dream...i dont see why not,there should be PR in the papers tom with rig ect.

could do with £3.28 break even markymar, good luck.

Only have a small holding.

Oilbarrell:
-----------------

Xcite Energy (LON:XEL) jumped another 12% before lunch to almost 150p, with 14 million shareschanging hands. I have been highlighting the major resistance levels over the last few notes, and pointed out the150p level as the last major sticking point before 200p. Well Xcite tested the 150p level this morning, before drifting slightly as a few profit takers showed up to the party. We will be watching the close carefully on this one, because if they close above the 150p marker, we could see the chartists getting Xcited once again, and try to push this one on to 200p. The major support
to watch out for here will be the 120p level.

Stone the crows....165p.....missed the afternoon session.....unbelievable that for months nothing... and now zooming away like a rocket....

I can see gaps in the chart....dose that mean possible retrace to fill soon...maybe friday??

Its got £2 written all over it..

Think my gaps are being filled.,.

I've done well on these as of late...mirror image of PTR....