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Marky...what have you started here...?...

Typo, Mr C. Corrected!

According to today's Telegraph the terms "husband" and "wife" could be abolished from English law if homosexual marriage is made legal. The words would be scrapped and replaced by the neutral term "parties to marriage". I had better start practicing for when I introduce my wife er, sorry, party to marriage!

Investors excited by rig launch By Peter Ranscombe
Published on Sunday 19 February 2012 00:00


WEATHER permitting, Xcite Energy’s Rowan Norway rig will be towed out of Dundee tomorrow, taking with it the hopes of its army of small investors.


Aberdeenshire-based Xcite’s shares have been one of the most hotly traded stocks over the past year, and are particularly popular with private shareholders.

The company’s value has almost doubled as attention focused on the potential size of its reserves in the North Sea’s Bentley field. But the company is taking a more cautious approach to its prospects.

The management team that set up Xcite in 2003 with the idea of exploiting the field has never been in any doubt that large amounts of recoverable oil exist in the area.

Two major oil companies failed to make anything of the asset and returned the licence to the UK government, but Xcite’s team was convinced that increased knowledge and technology could develop the prospect’s notoriously heavy oil, and their last test well proved that.

Chief executive Richard Smith says the company is not aiming to maximise the flow from the wells it plans to drill this year. Instead, it will be focused on resolving technical issues about how the water table under the oil behaves, which is key to extracting as much of the reserves as possible in the long term.

That knowledge will allow the company to book proven reserves for the core area of the field, which it hopes will be at least 115 million barrels. It will also help it finalise a field development plan that is eagerly awaited by investors.

Questioned by analysts, Smith said: “It’s important that the market understands that what we are seeking to get out of this well is not necessarily what they are hoping to get out of it.”

this morning's rns upgrading reserves is somewhat at variance with the above

I would like to think that this rns is good news and send the stock much higher !...

good reaction in the market, but bid/offer balanced so have sold (again) at 175.5 to profit (again) from the lump i bought back on friday - nice start to the week!

and sold another slice at 169.75 to bring me back to slightly u'weight at today's sp .... it is very noticeable that the offer book is now quite heavily in the ascendancy with the implication of "too far, too fast" and that the news will struggle to support these upper levels

Not certain...this is volatile and drilling will start again with production in mind....hefty reserves out there (for the north sea).....set to climb further....?....and oil is rising as we speak..a steady climb to 200p should be on the cards now in my view....

the market is almost never wrong ..... WHEN production and all the periphery surrounding that is truly set to go, THEN a further and sustainable rise may be warranted ..... meanwhile, i shall hold the relatively small number that i do and rub my hands gleefully at the excellent profits i have banked

you would be well advised to read and take good note of the company's more cautious statement issued over w/e

This company has always issued cautious statements....looking good...

quite so, and that is a saving grace .... nevertheless, caution and prudence should be the bywords

Prudence was gordon brown's favourite!

seems a good move cynic, also sold a batch at 172p.,.

quite so, and am happy to hold balance at least for now

limit order in for 140p got to go earn a penny this pm.,.

Boy !...is this volatile or what....more octane than a night out on baked beans !....(I do know how to treat a woman).....

You still in and out RF....LOL

On the spreads.....stayed put on the shares....job to do all these things together .....

Didn't quite get there, another day tomorrow.,.