Xcite Energy Limited (XEL) is a heavy oil appraisal and development company, with current interests in three licence blocks in the UK North Sea, all of which are held with 100% working interests through its wholly-owned UK subsidiary, Xcite Energy Resources Limited (XER).

Its primary focus is in bringing the Bentley oil field on Block 9/3b into production and in doing so becoming a significant independent oil producer in the North Sea by 2014.

Business Strategy

Bring the Bentley field into commercial production

Grow its reserves base from the existing 116 million barrels of oil equivalent
(“MMboe”) of 2P reserves through the conversion of its prospective resources base

Grow its resources base further through drilling activity on Blocks 9/3c and 9/3d

Employ enhanced oil recovery processes (“EOR”) to further increase its resource base

Increase its asset portfolio through license rounds and asset transactions whilst utilising its heavy-oil expertise to leverage opportunities


http://www.xcite-energy.com/

2012 in Review and the way ahead Robert Cole Video

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knocking at the door again with poor volume

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mnamreh - 29 Sep 2013 09:26 - 256 of 256
Type V. Fore-Arc Basins
Fore-arc basins are located on the ocean side of volcanic arcs. They result from both extension and compression, are elongate and asymmetrical in profile, and architecturally are the result of subduction. Fore-arc basins are few in number and generally not very productive (Klemme, 1980a, 1980b).
Very small amounts of heavy oil are found in the Barbados basin. Although a natural bitumen deposit is reported in the Shumagin basin, volume estimates are not available.

Essentially no heavy oil or natural bitumen is found in fore-arc basins because these basins do not generate large quantities of petroleum of any type and therefore provide relatively little material to be degraded.

http://pubs.usgs.gov/of/2007/1084/OF2007-1084v1.pdf

All the way back to £1 mark then ready for the bounce back up

Well worth a read to get up to speed


http://contrarianinvestoruk.squarespace.com/posts/2013/10/12/my-old-favourite-xcite-energycan-they-finally-deliver.html

My old favorite Xcite Energy....can they finally deliver

2nd chart.

http://goo.gl/7Gtf5L

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great! come in on an evening to catch up and hermans hermits is still at it.

good heavens! the emu's out of hibernation .... must be late spring in oz! .... how are you keeping old bean?

I'm still here keeping an eye on you buddy, just been a bit busy lately. Not a lot going on in my portfolio at the mo.... very boring. Hope your well, booked into the woollie this xmas?

indeed .... back there as usual but haven't worked out excat date we'll go down yet

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Taken from iii

Enquest and the Kraken hit the newswires recently as they got FDP approval. The big story run by the media was that it would generate 1000's of jobs. And bring in valuable tax rev. Not surprisingly the UK gov are happy.

And yesterday we heard that Statoil were 'parking' their bressay plans. This will undoubtedly be a blow to the UK gov/DeCC and any job creations that were pen'd in for this development and then there's the lost tax revenue.

This story is fresh and not surprisingly the media have not sniffed it out as yet.

But the undercurrent to all of this is of course XEL's Bentley licence.

This is double the size of Kraken and should attract the headlines of the year in the E&P sector and the general media when or IF a deal is announced.

With Mariner, Kraken and potentially a JV FDP or wholly owned statoil fdp on Bentley and Bressay - the heavy oil sector could see close to 1bln recoverable under development. That's serious production!

Statoil's move to park Bressay could mean several things (for balance).

1. The EWT data has forced them to rethink their recovery techniques/number of wells required for optimum ROI production numbers. Hence they need to draw up new plans.

2. An accountant at Statoil has run the numbers and informed the project manager of Bressay that they can save XX on Bressay if they farm into Bentley and combine several obvious huns and infrastructure.

3. They have parked Bressay until they agree terms with XEL on potential collaboration agreement which sees an entirely new more efficient phased FDP plan that mingles 1st stage Bentley with possibly a second stage Bressay.

4. They plan to buyout XEL lock stock and barrel and then resubmit a jointly run FDP with bressay and hence benefit from over $800mln+ of tax losses in first phase.

It could be none of the above but as I said a while ago, XEL's real value was in their ability to get the commercial / economics of Bentley working so well via EOR and data.

Statoil are no spring chickens and yet it looks like XEL have taught them a trick or two.

Tricks that have Statoil shelving Bressay and surely looking for a more knowledgeable way forwards with not only Bressay but also Mariner.

And they got all that for just 15mln! Nah.. me thinks XEL have saved some data for later! The type of data that Statoil really want but will have to pay a large chunk for.

There's no way XEL would reveal all their secrets for 15mln.

The question in all this (and consider the impact of the recent Kraken news) is how involved are DECC. What promises have they made to Statoil and if any to XEL? They are a very key part of this potential deal and naturally would like to see job creation and revenue from Bressay and Bentley.

Two is better than just one to her majesty.

HUB

Things seem to be squaring up quite nicely here.,.

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market clearly totally unimpressed by the latest numbers
they must have been pretty nasty as I see sp is -15%

StockMarketWire.com
Xcite Energy hiked its 9-month net profit to £9.6m, from a profit of £0.9m a year earlier. Revenue was nil in both periods. It was in talks with potential farm-out partners and lending banks.

"It has been a very busy and successful 12 months for Xcite, in which we have appraised a major, strategic asset and delivered clear value for Xcite, as well for others in the industry," said CEO Rupert Cole in a statement.

"We are now engaging, through data sharing and a collaborative approach, in the process of finding a suitable and robust partner for the Bentley development," he added.

"We have an understanding of the key investment drivers for Bentley and will continue to work diligently towards delivering a result to create value for all parties."