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Commencement of Pre-Production Flow Test
RNS
RNS Number : 2298H
Xcite Energy Limited
09 July 2012



TSX-V, LSE-AIM: XEL



Xcite Energy Limited

("Xcite Energy" or the "Company")







9 July 2012



Commencement of Pre-Production Flow Test



The Company announces that it has now successfully completed the final part of the 9/03b-7 & 7z well lateral well construction work programme, including installation of the smart completions equipment (enabling individual laterals to be flowed, co-mingled or shut-in), the installation of twin electrical submersible pumps (giving full redundancy) and a down hole safety valve.



The on-rig process and control packages have been fully commissioned and linked to the pipeline and in-field dynamically-positioned shuttle tanker, Scott Spirit.



The pre-production flow test operations on the 9/03b-7 (B6) lateral well were successfully commenced this morning and the well is currently being cleaned up. This flow test is not a headline flow rate test; it is a data gathering exercise.



The 9/03b-7 lateral well is planned to recover a minimum cumulative volume of 45,000 barrels of oil during the flow test period, to help ensure that the data gathering will be as effective as possible and will be used to calibrate the existing reservoir model and update the Reserves Assessment Report.



This flow test is planned to be up to 90 days in length and to be conducted at a range of different flow rates (specifically not 500 barrels per day for 90 days), to collect additional reservoir and production data, including data with respect to enhanced oil recovery. This data will be used to further increase the certainty with respect to the longer term oil, gas and water production profiles and recoverable reserves from the Bentley field.









Commenting on today's announcement Steve Kew, Exploration and Development Director, said:



"We are very pleased with the production test work programme to date, with all major elements having been completed safely and competently. This is a significant step forward for the Company in proving its technical capabilities in the drilling of these wells with the multi-lateral smart completions that have been installed. The start-up of the production test has gone well and we shall continue to provide operational updates in due course."

11 July 2012



Xcite Energy Limited

("Xcite Energy" or the "Company")



Pre-production Flow Test Update


The Company is pleased to announce that the pre-production flow test is progressing well, with the planned shut-in period and pressure build-up test having been commenced on 11 July following the initial, successful, clean-up and first oil flow on 9 July. This planned shut-in period and pressure build-up test is designed to obtain key information about the Bentley reservoir and the mobility of its fluids for use in interpreting the subsequent flow data and for planning the next step of the Bentley field development. Following this build-up test, the flow test will continue as planned.

At long last movement.

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Oil & Gas Sector: Xcite is top riser after positive update on pre-production flow test
StockMarketWire.com
North Sea oil firm Xcite Energy (LON:XEL) was the sector's biggest riser after it revealed that its pre-production flow test is progressing well.

It said the planned shut-in period and pressure build-up test began today (11 July) following the initial, successful, clean-up and first oil flow on 9 July.

This planned shut-in period and pressure build-up test is designed to obtain key information about the Bentley reservoir and the mobility of its fluids for use in interpreting the subsequent flow data and for planning the next step of the Bentley field development.

Following this build-up test, the flow test will continue as planned.

Xcite Energy's shares were up by more than 17% in late afternon trading.

Lets hope the sp gets there for them m

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Averaged down again today. Lets hope it does m , looks good.

Still out of pocket huge time with these,i have just tucked them away and try not to look at the huge paper losses.

Cant wait to read FD negative slant on them.

The trouble is this will encourage people with losses to cut them, unless the resource is proven to be many times more than expected, it may be a damp squib

GLA

another good rise today and now looking for next target 90p

Pre-production Flow Test Update
RNS
RNS Number : 0011I
Xcite Energy Limited
19 July 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





19 July 2012



Xcite Energy Limited

("Xcite Energy" or the "Company")





Pre-production Flow Test Update



The Company is pleased to announce that the pre-production flow test is progressing well.



Following the build-up and shut in test, the flow test has been continued as planned, with a gradually increasing flow rate having been undertaken during optimisation of process equipment, to the current stabilised rate of approximately 2,900 barrels per day. This is viewed as being well within the operational performance of the reservoir.



Bentley crude oil collected thus far in the Scott Spirit tanker is in excess of 10,000 barrels.

http://www.moneyam.com/action/news/showArticle?id=4410742

Operational Update - Pre-production Flow Test


http://www.moneyam.com/action/news/showArticle?id=4421216

http://www.moneyam.com/action/news/showArticle?id=4421217Key points:



· Richard Smith has decided to retire from his role as Chief Executive Officer and as a Director of the Company.



· Rupert Cole has been appointed as Chief Executive Officer. He is a founding member of Xcite Energy and previously held the role of Chief Financial Officer. He will continue to maintain overall responsibility for the strategic financing of the Company and the associated external relationships.



· Stephen Kew, also a founding member of Xcite Energy and currently Exploration and Development Director, will formally take on the role of Chief Operating Officer for the Company, which will continue to include his responsibilities for oilfield asset acquisition and development.



· Jon Dale has been appointed as Finance Director of Xcite Energy Resources Limited ("XER"), the Company's 100% owned operating subsidiary. He has been the Xcite Energy group's financial controller since early 2008 and was appointed as Company Secretary for XER in September 2011.



· Andrew Fairclough has been appointed as Corporate Affairs Director for the Xcite Energy group. He will play a leading role in the Company's external communications and relationship management. He has over 17 years of corporate broking and corporate finance experience, having previously worked for a number of leading financial institutions, including Espirito Santo Investment Bank, Merrill Lynch and Rothschild.



· Matt Bower has been appointed as Operations Director for XER, taking over full responsibility for operational matters from Richard West on completion of the Phase 1A work programme.



· Following the completion of the Phase 1A work programme, Richard West will assume responsibility for industry related regulatory and compliance matters for XER, thus providing important continuity in the transition from Phase 1A to Phase 1B of the Bentley field development.

Another box ticked

North Sea-focused Xcite Energy (LON:XEL) is on Seymour Pierce’s ‘add’ list after its Bentley oil field flowed at around 3,200 barrels of oil per day in pre-production tests.

The broker was singing the oil and gas explorer’s praises after the results, with a target price of 242 pence, way above the current price of 76.8 pence, which has risen 2 per cent today.

“A condition of the company’s $155m reserve backed loan facility was the company needed to achieve a cumulative volume of 45,000bbls of oil during the flow test period to help ensure that the data gathering will be as effective as possible, today’s announcement goes some way to ensuring this important millstone is met

LSE bigmac Post




Judging by the control being exerted over the ask since the beginning of this week, imo we have another week of Global VWAP manipulation then a two business day window for discount confirmation/placing completion. That pushes us to Wednesday 15th, which is plenty of time to increase the flow rates. I agree this is being stage-managed to maximise good news re flow rates. Not long now Alternatively if the L2 sell side clears before end of next week, that's also a signal VWAP calculation is done.

http://www.scotsman.com/the-scotsman/business/drilling-update-sees-smith-leaves-xcite-energy-on-a-high-note-1-2448301

http://www.investegate.co.uk/Article.aspx?id=201208080700055293J