.

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:
-------------------------------------------------------------------
'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...

Not going to chase it anymore.

Ditto...in but will wait.....

All getting very concerning rf.

RNS Number : 2908E
Xcite Energy Limited
29 May 2012


NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

TSX-V, LSE-AIM: XEL

29 May 2012
Xcite Energy Limited
("Xcite Energy")

Bentley Phase 1A Operational Update

Xcite Energy is pleased to announce that the 9/3b-7 well has reached target depth of 9,377 feet (measured depth).

A reservoir section in excess of 2,200 feet has been penetrated, with 100% net pay, and sand screens have been run successfully. The remainder of the planned operations, including drilling of the second reservoir section, installation of the down-hole pump and commissioning of the processing equipment will now be undertaken prior to the production test commencing.

The two 6" export pipelines from the Rowan Norway have been successfully installed and the installation vessel, Polar Prince, has been released.


ENQUIRIES:

Xcite Energy Limited

http://www.moneyam.com/action/news/showArticle?id=4378029

that sounds like an awful lot of oil ..... hope it's a better result than expected, as i confess i find many of these oil pronouncements somewhat opaque

sounds good.

Xcite Energy (LON:XEL) pushed 6% higher to 97p during early trading after the company said that the 9/3b-7 well has reached target depth of 9,377 feet measured depth. A reservoir section in excess of 2,200 feet has been penetrated, with 100% net pay, and sand screens have been run successfully. Remainder of the planned operations, including drilling of the second reservoir section, installation of the down-hole pump and commissioning of the processing equipment will now be undertaken prior to the production test commencing. Two 6" export pipelines from the Rowan Norway have been successfully installed and the installation vessel, Polar Prince, has been released

Read more: http://www.oilvoice.com/n/FoxDavies_views_from_the_trading_floor_Ithaca_Energy_DEO_Petroleum_and_Xcite_Energy/ed0552360dcd.aspx#ixzz1wHDhk5WL

http://www.oilvoice.com/n/FoxDavies_views_from_the_trading_floor_Ithaca_Energy_DEO_Petroleum_and_Xcite_Energy/ed0552360dcd.aspx

http://www.moneyam.com/action/news/showArticle?id=4381036

More pieces of the puzzle falling into place for Xcite Energy
Thursday, May 31, 2012
After an upbeat AGM last week for Xcite Energy, a welcome operational update was delivered yesterday (29th May) from the company which also included some serious reassurances that the current extended well test (EWT) phase 1A is on track with no technical issues. The horizontal is 400 feet longer than the original appraisal well (9/3b-6z) drilled in late 2010 - 2200 feet versus 1800 feet, with the reservoir integrity continuing to be maintained with 100% net pay.

With this strong reservoir integrity, and together with EOR (enhanced oil recovery) techniques during the well test, investors can proobably expect a reserves upgrade in due course from the current 116 mm barrels of oil. It is possible that auditors TRACS could updgrade the core area of Bentley beyond 150 mm barrels when the full results from the well test are complete; the board seem very confident that 116 mm barrels is purely the base case.

It was also good to see Socius warrants finally knocked on the head. Onwards and upwards for investors from here. If a reserved based lending deal can be done, Socius can be consigned to company history for good as this deal has done shareholders no favours with the perpetual stock overhang



Read more: http://www.oilvoice.com/n/More_pieces_of_the_puzzle_falling_into_place_for_Xcite_Energy/a908b9606687.aspx#ixzz1wZrBiuId