.

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.

Harry i would not put XEL as a high risk, got my eye on a high risk one at moment which i intend to have a punt on called Epic PYM

I have some contacts in this which i am trying to find how the trails are going if looking fruitful i will buy in early on and sit with for 3 or 4 months. 5+ bagger in my eyes on good news.

So one for Rf....haha....we will be millionaires this time next year!!!!!

I think there has already been lots of bags made on "Phytopharm........This year.....0.06 to current price = 0.1298, now that is lots of bags!

So, you recon another 5+ bags........Wish we knew at the beginning of the year!!!!!

I'm the same ones as you Harrycat.....AFR, XEL, GKP and FOGL.....risky but with big upside...

Cannot believe the drop here...along with RPO......why ?....overdone, I would think....picked up some more....you would think there were profit warnings for these companies that are doing well...

FOGL is in a risk-league of its own compared to AFR, XEL and GKP for they all have proven and genuinely commercial (OIL) assets, whereas FOGL still has bugger all ...... i suspect that XEL has dropped on "sell on the news" and also that crude has taken a bashing, and heavy crude is unsexy in its own right ..... nevertheless it certainly looks oversold and is due for support at just a little below the current price

with that in mind, have just bought a few more at 106.5 and have placed a similar order a bit lower

I agree except for FOGL where a very large gas discovery has probably been made...going seriously long on XEL and RPO.....shares with nonsense sp's at the moment.....

marky - dreamcatcher - 20 Sep 2012 10:03 - 2021 of 2022
Pro -I have been asked can you update the header on the xel site, otherwise there is talk of opening a new one.
Proselenes - 21 Sep 2012 02:31 - 2022 of 2022
dc - let them go ahead and start a new one.

Thanks Mr dream i will put a new thread up with information and graphs on at some point if everyone is happy with that as there is nothing on pro thread any mome.

go back to old original.,.

i am very uncomfortable with today's continuing fall, but i can see no real sense it, despite my caveat from yesterday ..... accordingly, i have bought to the quota i was looking for yesterday at 105.5

===============

ouch! i go for a cup of coffee and "clunk" down to 100 ...... perhaps i should have paid attention to the adage that the market is almost never wrong ..... ah well, let's wait and see

My usual good timing has deserted me with Xel, like Cynic I don't really understand why the share price has collapsed on what on the surface appears good news. I can only think Xel is being its usual volatile self, combined with sell on news and the recent fall in oil price, none of which really accounts for a 25% drop.

hey chuckles, i hope you're not starting to stalk me like poodle-boy and msrsi :-)