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

Hope to see you making money on here this year then.,.

Me too....my portfolio might just be on the turn....check out NBU.....one of EK's...new factory...plus a divi...£45 million cap....anyway....this year I reckon is going to be better than the last few years...

I reckon you have taken a few years out to spend your RKH profits, rf! Good to see you back, though don't think XEL is in quite the same position.....bit of a slow burner! ;o)

Hi there Harrycat !....XEL needs a partner...Statoil (Norway's state oil company might be a good suitor)...

Up a few pennies again...oil and gas sector doing a bit better now overall.......

forget Statoil ..... that'll almost certainly never happen as the approval process in norway will be very long and convoluted

Centrica then ...

i wouldn't be fussed even if it was PMG!

One is gas mainly...the other heavy crude....one southern northsea...the other on the border with norwegian waters...but who knows...?...oil and gas developments nowadays is as much as with finance in the city as the actual extraction and production...

i was joking .... PMG don't remotely have the clout

Too busy with their own discoveries...

Whooooaaaa.....steady now...a 2% rise today.....phew !......getting overexcited here....

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Looking tasty now at this SP 85p.

it's about as tasty as a spoonful of the jollop they've found

this company is smelling like week-old fish
it has failed to perform for far too long, delivering just empty promises

anyone else's patience running out? Many still in this and hoping to someday get the seemingly great potential value?

Salvation might come in the form of an offer/JV from Tom Cross of Parkmead. If XEL's assets are worth anything, he's probably the man to have an eye for a bargain.

Can't believe the way the sp has dropped....I've noticed that XEL, PVR, and RKH are having trouble bringing into production great reserves in the ground...

So...are we having a great farmin'...or a great farmout ?.......to put in the way Smashie and Nicie might put it !...

Week old fish is how I like to describe my portfolio......can't seem to get anything right any longer...