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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

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To many skatty public investors, needs more institutional investors .

Xcite Energy fails to please despite well test beating expectations
Thu 20 Sep 2012



LONDON (SHARECAST) - Xcite Energy, an AIM-listed North Sea oil and gas group, saw its shares fall on Thursday morning, despite its pre-production well test results on the Bentley Field exceeding management expectations.

During the well test the firm produced around 147,000 barrels of crude oil, and significantly improved its understanding of the oil, gas and water in the area. Less water was produced than expected.

The pre-production test comprised two horizontal wellbore sections. One was placed at a depth within the reservoir close enough to the oil-water contact such that water would be produced during the period of the flow test. The second well was successfully geo-steered within five to ten feet of the attic of the reservoir.

The resulting crude has been sold to a major refiner in Europe.

The flow test also confirmed the existence of a large, active aquifer, which will provide vital long term pressure support during life-of-field production.

Rupert Cole, Xcite Energy Chief Executive Officer, 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."

Despite this, the share price fell 4.21% to 125p by 09:23

The drop in the sp is an example of how ridiculous the market is nowadays.....how on earth can the small private investor make any money in this uncertain climate......very difficult....a few years ago : good news meant a share would go up...now ; it seems to drop....everytime it's like this....

"how on earth can the small private investor make any money in this uncertain climate......" ...........Pick the right stocks! ;o)

On a serious note, you seem to like the high risk stocks, rf and maybe you get a little bit attached to them. Best to be totally detached, imo, so that if it goes badly wrong you have no qualms in ditching it and moving on.