.

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....

lol.,.

By the way...why has this shot up suddenly...?.....any answers....apart from the rig being ready...hardly news....knew that was going ahead anyway....oil increase ..yes but not yet dramatic....so why the 90p spike...?.

It was very much undervalued to put it simple, I can live with it up 90% in a week.
Now where is my £2?

Site visit and Media briefing yesterday.

http://www.xcite-energy.com/docs/XEL%20Rowan%20Norway%20Rig%20Visit%2016%202%2012%20FINALV2.pdf

Conclusions
Bentley field substantially de-risked

o Successful flow test in 2010 demonstrated commerciality of the field
o Reserves assigned to FPD area
o Material increase in value of core area of field
o Moving towards production with FPD
o Expectation to convert Contingent Resources to 2P reserves

Planned Programme

o Drill the 9/3b-G and Gz wells; complete and produce for up to 90 days
o Re-submit FDP for FPD in core area of the field
o Achieve formal approval of the FDP by DECC
o Implement FPD programme
o First Oil
o Potential to prove up more barrels through further drilling in Bentley South/East