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Xcite to present at World Heavy Oil Conference
RNS
RNS Number : 0464M
Xcite Energy Limited
12 September 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



LSE-AIM, TSX-V: XEL







12th September 2012



Xcite Energy Limited

("Xcite Energy" or the "Company")





Xcite Energy to present at the World Heavy Oil Conference 2012





Xcite Energy announces that it will be presenting at the World Heavy Oil Conference 2012, taking place in Aberdeen until 13th September, at which Xcite Energy is a sponsor. Mr Steve Kew, Chief Operating Officer of Xcite Energy, will today present on the history and background of the Bentley field, and on Thursday, 13th September, Mr Barny Brennan, Director of Subsurface of Xcite Energy, will present on the pre-2012 appraisal of the field.

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Oh, lol ----"no new information will be provided"

Keeps on trundling up. Nice

And more, think I was accused of ramping xel!
Fogl only down 30% since that comment was made, Xcite heading towards 75% up in the same timeframe. Now this stock has value :)

They have OIL!! and easy toget to.,. lol

Xcite about 4 mins into talk


http://www.youtube.com/watch?v=1HpCk_m18Dc

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



"We are extremely pleased with the outcome of the Phase 1A work programme, which has exceeded our expectations. We have gathered very substantial quantities of high quality data, which has materially de-risked the project. This will enable us to confirm the full field development plan and advance our commercial strategy. As a result of the expertise within the Xcite team, supported by our contractors and service providers, we have safely delivered an outstanding pre-production well test on Bentley, one of the largest remaining, undeveloped North Sea oil fields."

I thought we might of got an upgrade on the field size........i dont see why we have not with all the work been carried out on the field.

But still good news.

Just watching the sells going through, crazy.

Some very postive wording in RNS so am happy holding

Might buy a few more on the bounce to stick in my Isa for this year

The SP is all over one second bid at 123p then 126p

very dull, but as it's a bit of a stinky day anyway, it'll be exacerbated by peeps selling on the news

The bounce so taken a few for ISA

Bought to early again.........hay ho

11% down ?

There is no bad news in the RNS, all postive

dream can u make a note to pro to up date header or i will start a new one with up to date info.

No wonder when fox davies put out concerns

Xcite Energy (XEL LN, 125.25p, ▼ 4.02%): Phase 1 Complete - The completion of the Bentley field pre-production well test programme tells us a lot about the asset. That the pre-production wells were successfully tested ahead of the field development is also encouraging. Nevertheless, we still have concerns on the longer-term producibility of the field, and while we do not doubt the initial commerciality, the ultimate recoverability of the crude within the reservoirs at commercial rates remains our main issue. In this news:

•Successfully demonstrated full field development drilling, completion, production and export techniques
•Extensive data gathering for reservoir model calibration and production facilities design, enabling optimisation of field development
•Significantly improved understanding of oil, gas and water movement behaviour
•Water ingress to wellbore better than expected (i.e. less water produced)
•Produced approximately 147,000 barrels of Bentley crude
•Successful management of flow assurance issues, including pipeline transfer to a dynamically positioned shuttle tanker for in-field blending
•Pre-production well test results exceeded management expectations

Sure marky