.

was about to comment on same .... just possibly an rns after the close

Something brewing as well as my cup of tea cynic.

anybodys guess maybe MM's playing friday games?

Yesterday morning Xcite Energy tested a low of 73.5p, a 52 week low, before reversing sharply and finishing the day up 9p or 11% at 90.5p. Volume was strong with nearly 9.6 million shares traded

http://www.spreadbetmagazine.com/blog/2012/5/19/xcite-energy-tests-the-depths-with-a-new-52-wk-low-then-rebo.html

Nice to see a rebound.....I've been gutted by the drop having bought much higher !...

i am very gloomy and see nothing escaping what i am sure will be a total bloodbath tomorrow morning ...... with luck, i'll be proved totally wrong with a strong dcb allowing exit at better prices for a very short time

sorry cynic i hope you gret your exit point gl

i am now of the opinion that markets will head sharply south certainly until after the greek elections and quite possibly beyond that, though assuredly not in a straight line ...... that being so, i would rather crystalise some losses and sit back and wait with a very a tight portfolio .... it's very easy to get sucked in to throwing good money after bad

cynic i work for citi that is the expectation if already in hold and wait for the bounce gl

The company has not changed for the worse, so will sit on my hands for as long as it takes to recover.

At long last a rise....worth 200p in my opinion...(with decent flow rates and production starting) of course....

nice rise indeed, the MACD gives the clue

and another day of moving higher with volume though MMs tried the usual marked down with themarket at the start

http://www.moneyam.com/action/news/showArticle?id=4376138

Extremely volatile sp at the mo....

MACD gives a clue.,.

moving average convergence/divergence

posted by 'rabfather' on LSE and later on ADVFN:
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'Was very interesting - most of you know what happened thanks to Blue Eyes commentary - (nice one ).

Shareholder Value - Rupert Cole was quite insistent on Shareholder Value - He kept on banging on about the same thing whenever he had the chance,,, had a moment to quiz him on that privately and he said they are not hell bent on going it alone- all they want is maximum shareholder value. which kind of intimated to me that once the field is proved up and they had a proper offer , they would sell.

RBL - everybody assumes we will get it once EWT has finished. IE once the tanker is full with oil He again was quite insistent that wasnt the case. every day they are collecting data so basically it could come at any time. 5 banks on board with 5 different advisors so to keep everyone happy and satisfied is no easy feat. Another reason why XEL had to jump through hoops for RBL to be approved (successfully i may add) is coz with other Major Oilies, they can give something else as security like another field etc etc. As this is the only security XEL have, and the current unprecedented financial climate. The banks are having to go through everything with a fine tooth comb and need to make sure their loan carries ZERO risk. Remember this its not about geology anymore... its all about Engineering and we have the best people on the planet on the RN doing their thing so its just a matter of a little patience now.

Institutional Investors - When asked who they were or have they courted any, it was quite a simple answer, The banks that will lend the money have investment departments who will be licking their lips at the prospect of investing long term in XEL, with the comfort that extensive due diligence has been completed and their investment has some serious potential.

Takeover Price - after lunch whilst having a quick cigarette outside, Richard Smith walked pass, very pleasant chap who stopped to say hello, we started chatting and i asked about T/O. I asked what can be done if somebody tried to do a hostile T/O at around £4-£5. i thought he was gonna say yeah... its something the board would recommend. He was insistent that they would decline a T/O at that price as it doesnt even come close to true VALUE. I was like WOW - Interesting coz if someone offered £4 for my shares i would be gone faster than Usain Bolt.

Overall I left with a very positive outlook for the future - The BOD are all in their late fifties , early sixties and this is their last crack at the big time. They have oil running through their veins and have fantastic CV's. All proper oilies apart from the money man Rupert Cole who is the guy that makes **** happen. One thing i learnt that very interesting XEL have more proven reserves in the north sea than Premier Oil, Enquest/Nautical so their ambition to be the 2nd or 3rd largest Oil Majors in the north sea can be realised. '

This is the ugly duckling of the market isn't it ?....iinto the eighties now ?....crazy...