.

Xcite CEO delivers upbeat message on the development of the Bentley field

http://www.youtube.com/watch?v=FgYPXXXmL-A

Nowt changes......u get some good news and the price goes down.

Xcite Energy unveils funding strategy for entire Bentley development


While the company is not yet in a position to rule out a share sale, this is understood to be a less favourable option.



http://www.proactiveinvestors.co.uk/companies/news/42016/xcite-energy-unveils-funding-strategy-for-entire-bentley-development-42016.html

http://www.scotsman.com/business/energy-and-utilities/oil-driller-xcite-unveils-fundraising-plans-1-2259567

After reading this link, Ive made my mind up about what Semour Pierce think of Xel.
Think I believe Fox Davies. Just wonder if another apology will be due?
Two very different views below the link below.


http://thesharehub.com/?p=5824T






Analysts at Fox Davies Capital said: “Friday’s announcement marks the beginning of new transition period for Xcite Energy as it moves towards the development of its reserves in the Bentley field.”

But Dougie Youngson, an analyst at Seymour Pierce, which carries an “add” rating on the stock, warned: “Overall this funding strategy is starting to feel desperate. The fact they are now looking at farming down goes against everything management has said before.”

Youngson added: “What the company should be focusing on is getting a good result from the extended well test, as this is what will ultimately determine the commerciality of the Bentley field.

“We need to see timely and relevant information coming from the drilling work, rather than the distraction of what may – or may not – happen next.”

From ll

“Overall this funding strategy is starting to feel desperate,” said Seymour Pierce. “The fact they are now looking at farming down goes against everything management has said before. “What the company should be focusing on is getting a good result from the extended well test, as this is what will ultimately determine the commerciality of the Bentley field.”

It is interesting that the author of the Seymour feedback in the article was Dougie Youngson who was once oil and gas analyst at Arbuthnot who were Xcite Energy’s NOMAD broker until 2011. He now works for Seymour Pierce and guess what, after issuing house broker notes whilst at Arbuthnot in early 2011 for Xcite at 600p he seems to have miraculously changed his view, I wonder why? I’m sure its nothing to do with the fact that Xcite fired Youngson and the Arbuthnot mob…

A new company web site, The share price no better though.

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

8 May 2012


Xcite Energy Limited
("Xcite Energy" or the "Company")

Operational update for Bentley 9/3b-7 well


Xcite Energy announces that drilling of the 9/3b-7 well on the Bentley field is progressing satisfactorily, having reached a total depth of 6684ft.

The 17½" section has been drilled, 13⅜"casing set, cemented and pressure tested. The 12¼" hole has been drilled. After the 10¾" x 9⅝" liner has been set, cemented and pressure tested, drilling to the reservoir section will follow.

Following the announcement on 14 December 2011, the Company's 100% subsidiary, Xcite Energy Resources Limited ("XER"), has now signed a time charter contract with Teekay Navion Offshore Loading Pte. Ltd. ("Teekay"), for the provision of the dynamically positioned "Scott Spirit" shuttle tanker vessel. The Scott Spirit is planned to be used as the in-field storage and offtake facility for Bentley crude oil during the Phase 1A of the Bentley field development programme now being undertaken.

XER has also now concluded a contract with Ocean Installer AS for the installation of the oil export pipeline of 1.8 km between the Rowan Norway jack-up rig and the Scott Spirit. The load out on the installation vessel "Polar Prince" is currently taking place in Peterhead in preparation for the work programme

this stock really has fallen out of favour very badly ..... not unreasonable news and sp plops south yet again

Yes.....and the market is just plain crap at the moment.....I have just stopped buying or selling .....not a single trade since the start of the month.....suppose I shall have to be patient and wait for some of my shares to recover including this one.

Buy low and sell high is the message ( able to buy at 102.40p )

A company with diversified and well managed, will provide great returns to investors over time.

Forming a floor on the chart as the Indicators are moving higher

Disclosure: I have a position in this stocks since this morning.

mamborico been thinking about topping my ISA up with them but i would have to sell something else to do that....nothing i want to sell at moment.

http://www.proactiveinvestors.co.uk/companies/news/42461/xcite-energy-says-drilling-is-progressing-satisfactorily-update-42461.html

Seymour Pierce has a ‘buy’ recommendation on Xcite, targeting 242p a share.

Meanwhile fellow City broker Oriel Securities also rates the stock as a ‘buy’ and analyst Nick Copeman reckons the stock is worth 180p per share (risked NAV).

On AIM today Xcite shares edged up slightly to trade at 102.75p each.

http://oilbarrel.com/news/xcite-energy-keeps-busy-as-it-prepares-for-key-extended-well-test-at-bentley

May 08, 2012

Xcite Energy Keeps Busy As It Prepares For Key Extended Well Test At Bentley

Ah, peace and quiet.

.

buy buy buy.,.

http://www.oilvoice.com/n/FoxDavies_views_from_the_trading_floor_Range_Resources_Ophir_Energy_and_Chariot_Oil_Gas/f1246cfcca2f.aspx

Xcite Energy (LON:XEL) slipped 4% to 85p during early trading, along with most of the market. The shares have slipped from just over 180p back in February, down to the current level. The next major support line I can see is 83p, and if that is broken it would appear that 73p would be the next major level to watch for thereafter.

Nearly getting to pre-Bentley discovery or testing days......just ridiculous this sp now...

On the rise.

Wonder if cash is moving over from rrl,rmp ?