.

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 ?

No idea Dreamcatcher, synergies with Statoil due to their proximity to Bentley which is why they keep getting flagged up as a potential suitor. I think any suitors will wait for the result of the EWT or at least some inkling it's met expectations before mounting an offer. If that's what anyone intends.

Agree chuckles.

When can we expect EWT chuckles?

Just over 60 days in out of a planned 90 days. I think XeL will announce completion of the test by RNS. Probably include how many bbls of oil flowed at what rates and how much water. Remember water is expected and intended so not bad news.

Thanks C.,.

Balerboy
This links summarises the Xcite story so far bettert than I can.

Xcite warming up

Thanks again C, looking very good.,.

("Xcite Energy" or the "Company")

Sale of Bentley Crude Oil and Flow Test Update

· Sale of in excess of 135,000 barrels of Bentley crude oil
· Pre-production flow test continuing in line with expectations

Xcite Energy is pleased to announce that through the marketing and offtake agreement with BP Oil International Limited ("BPOI"), it has sold in excess of 135,000 barrels of Bentley crude to a major refining participant in the European market. Pricing of the Bentley crude was better than the Company's assumption of anticipated discount to Brent (modelled at 12%) for the conservative full field economics.

The pre-production flow test continues to be conducted in line with the Company's expectations and is approaching the end of its planned programme. It is expected to be concluded within the next two weeks, with additional crude oil production in this period included as part of the sold cargo.

Commenting on today's announcement Rupert Cole, Xcite Energy CEO, said:

"We are extremely pleased with the progress of the flow test and the substantial amounts of data and information that is being gathered. We have also had a great outcome with the sale of this first cargo of Bentley crude, which has been priced at a comparable value to the expected full field production. BPOI has again provided us with excellent support in its role as marketing and offtake partner for the Bentley

but this isn't nearly as good news as from FOGL - ask MrP :-)