.

I'm out @ 111.3 agree with the above. Certainly on my watch list though.

down to 107 now

Damn.....119 when I last looked.... come back now...103....

re - HARRYCAT - 30 Aug 2012 14:30 - 2841 of 2844
Surely this is news (rumour) driven atm, not technicals?

Sure some buy on rumours

the others sell on technicals

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The target on this upside was 120p but as it did not managed to break and got close enough, there was not much point in holding.

Todays express talks of bid interest from Norways Statoil

Duly noted, magicjoe. I'm never quite sure where TA stops and other strategies start, but happy to concede that you were correct this time! ;o)

dc, old news, see post 2836.

H, my paper is dated thurs 30th 2012 . lol

LOL Only good for wrapping up the fish & chips now then!!!

Pleased you said that . We use toilet roll in our house. :-))

DC don't you find the toilet paper sticks to the fish and chips...... very difficult to get off i think...... :)

I thought you would lower the tone. lol

I keep trying to get interested in this , mainly due to the noise surrounding it, but it consistently raises hopes then as quickly falls back, what is the problem?

heavy oil is unsexy and there seems to be uncertainty as to exactly how much can be extracted economically and commercially

You wouldn`t think so from the amount of ramping, but there again maybe you would?

ramping???? ..... you ain't seen nuffink if you ain't seen the fogl fred!

I think that this initially went up on the Statoil rumour, which hasn't yet been denied (or corroborated).

.

Xcite Energy (Frankfurt: A0M7X9 - news) , which, as Roland Head reports today , has climbed 48% to 113p over the last month. Still very much a share for oil and gas veterans rather than widows and orphans, Xcite combines the best of the 'small oilie' world in one package: revenues from existing production, and the prospects of gains from future production. Analysts have pencilled in profits of £25 million for next year, and reckon that the share is a 'strong buy'. Long-term shareholders, who have had a decidedly bumpy ride, can only hope that they're right.

I mentioned a while ago this was a strong buy but a bit of patience may be required. I could check back but I think the SP was in the high 80s when I posted.

As to the Statoil rumour, yes, that's true, although bb rumour rather than press. But that's not the only expectation, potential for a farm in as well. but the main focus right now is the EWT which is over 60 days in of a planned 90 days. The result of the EWT, apart from banking about $10M from the test in revenue from recovered oil is the likley update in reserves. Throw in that the test will (if successfu)l finally prove that Bentley is commercial, Xcite begin to look more attractive. This is one of the biggest under-developed fields remaining in the North Sea, it's no surprise that investors think it's worth more than a share price in the 60-100p range. The oil has been flowing at about 3000bbl/day so looking good.

I can't see that this is been ramped heavily, sure there's the usual clowns spouting £5 by Xmas but not the 300-500 posts a day that can be expected on ADVFN.

Bp could be interested ?