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

is today on the bounce after dropping well lately and rather spiking at the moment

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re - Low volume with short covering pre Christmas pump.

We now who needs a bit of a pump all the time not just for Chrismas.....

Maybe the one who keeps deleting its own typping all the time

note - for the record just in case is deleted again ( copy and paste does the job )

how lovely ..... is that even for me (BIG kiss in return!!)

PETER RANSCOMBE / Wednesday 26 December 2012 00:19

SCOTLAND’S powerhouse oil and gas sector will continue to drive mergers and acquisitions (M&A) throughout 2013, according to senior dealmakers, but the renewables sector is expected to begin catching up.

Three-quarters of “dealmakers” – such as accountants, bankers and lawyers – predict a “healthy” flow of M&A activity in the year ahead, driven by the energy sector.

Food and drink companies, buoyed by record exports of £5.4 billion, are also expected to contribute to deals as the industry looks to grow its exports to £7.1bn over the next five years.

Craig Anderson, senior partner at accountancy firm KPMG in Scotland, which carried out the survey, said: “Our research demonstrates confidence among Scotland’s dealmaking community, albeit this may be more apparent in particular sectors than others.

“While confidence in energy remains high, both for renewables and traditional oil and gas, the well-publicised expansion in the Scottish food and drink sector is evidenced in expectations of relatively-high levels of M&A activity.

But Anderson warned: “Other sectors continue to experience challenges with just 14 per cent of respondents to our survey expecting to complete retail deals in the year ahead.”

The oil and gas sector, which is worth about £7.6bn a year to Scotland’s economy through exports, has enjoyed a flurry of deal activity in the past year.

Parkmead, the Aim-quoted oil and gas company run by Dana Petroleum founder Tom Cross, snapped up Aberdeen-based Deo Petroleum in August. Earlier this month, Cross raised £20 million through a share placing and debt-for-equity swap, giving him a warchest to carry out further deals.

Edinburgh-based Melrose Resources, the oil driller run by Robert Adair, was taken over by Petroceltic in August, spreading the combined group’s influence across the Black Sea, the Mediterranean and North Africa.

The North Sea was also the stage for a number of massive international deals.

State oil company China National Offshore Oil Corporation (CNOOC) bought Canadian rival Nexen for £9.7bn, making the Chinese firm the operator of the Buzzard oilfield, the largest in the UK. China-based Sinopec also took over the British assets of Talisman Energy.

Dealmakers expect such blockbuster transactions to continue in the oil and gas sector in 2013. More than 70 per cent expect deals involving Scottish and North American companies, while the eurozone is predicted to account for a third of deals and the fast-growing “Bric” economies of Brazil, Russia, India and China contributing 22 per cent.

Renewables are expected to close the gap on oil and gas in 2013, with a record £1.5bn expected to have been invested in the sector during 2012.

But nearly three-quarters of respondents cited a gap between buyers’ and sellers’ price expectations as a barrier to deal completions, while availability of funding remains a concern for more than a third of those asked.

Anderson added: “Convergence between buyer and seller price expectations is a critical factor in the ability to conclude deals. Should this gap begin to close, we are likely to see this reflected in increased M&A activity.”

Second day on a row with a good movement up

short term from BRITISH BULLS says tonight ...

BUY CONFIRMED
XEL 90.750 +4.0000 +4.61%

Candlestick Analysis
Today’s Candlestick Patterns:
White Candlestick

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can't see the point of posting nothing mnamreh, just wastes everybodies time looking to see whats posted.

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not really, I'm sure your post's are of use and interesting as is everyone else's. You must have a very boring existance if you've got nothing better to do than go back and remove your posts after an hour.,.

So why post at all if you think that you comments are irrelevant after only one hour?

Hurry up everyone and read post 38 only 52 mins left. :-))

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Going great guns today

We were promised an update on the reserves etc in early 2013 fingers crossed

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mnamreh ,,,two days on the trott

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No but we are due a New Moon on the 11th if thats any good,havent looked at the stars yet.

At least we are out of double digets for now.

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