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XCITE ENERGY LIMITED (XEL)     

markymar - 26 Nov 2012 19:50

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


Chart.aspx?Provider=EODIntra&Code=XEL&Sihttp://www.xcite-energy.com/

2012 in Review and the way ahead Robert Cole Video

Flag Counter

Balerboy - 27 Mar 2014 15:12 - 303 of 391

Hey marky.....still down that mine?? this is going like rockhopper......down hill fast.,.

markymar - 01 Apr 2014 00:54 - 304 of 391

Been buying RKH

Balerboy - 01 Apr 2014 19:14 - 305 of 391

i bought some more here as it seemed to have bottomed out, nicely in profit and reckon this will climb back to 90p.,.

Balerboy - 02 Apr 2014 09:10 - 306 of 391

next floor haberdashery....... going up.,.

dreamcatcher - 02 Apr 2014 19:56 - 307 of 391

He was right.


dreamcatcher - 27 Apr 2013 18:02 - 143 of 306

Malcolm Graham-Wood, analyst at VSA Capital, advises investors to buy when the shares hit 80p for a “very substantial long-term upside”.



markymar - 29 Apr 2013 08:01 - 144 of 306

Some of these analyst talk rubbish

there shouting BUY £2.60 target price and now this clown is talking 80p

Balerboy - 02 Apr 2014 19:59 - 308 of 391

just a minor dip, back up tomorrow.,.

dreamcatcher - 02 Apr 2014 20:00 - 309 of 391

Mine are sitting at £1.50 :-((

Balerboy - 02 Apr 2014 20:04 - 310 of 391

same for me, but will trade last little batch i bought.,.

dreamcatcher - 02 Apr 2014 20:11 - 311 of 391

Not averaging down. Just wonder why Statoil are holding off ?

dreamcatcher - 02 Apr 2014 20:12 - 312 of 391

Well done on the rise Bb.

kevkan - 03 Apr 2014 00:19 - 313 of 391

Found by Chappi
Are we starting to move

SPD currently have a requirement for a Wells Project Manager to lead its Wells Team in supporting Xcite Energy in delivering its prestigious Bentley Development.

This role will be based in Xcite’s office leading the SPD team delivering all Well Engineering aspects of this very large, complex, multi, well offshore development. You will be a highly experienced individual capable of leading and integrating the wells project team and have at least 5 years’ experience in the role of Wells Team lead / Drilling manager as well as significant prior experience in well design, planning and operational execution.

You will have a strong track record in successfully managing multi-disciplinary teams in delivering offshore developments ideally in the UKCS, from the concept through to execution and review. A key requirement is your ability to maintain excellent working relationships with client personnel, vendor personnel and with the wider SPD support groups while delivering this complex wells project.

http://www.spdltd.com/vac/713/wells-project-manager/

P.S Notice the "part of the Petrofac Group" in the bottom right corner:)

dreamcatcher - 07 Apr 2014 08:04 - 314 of 391

MOU with Teekay Shipping

RNS Number : 1837E

Xcite Energy Limited

07 April 2014



Xcite Energy Limited

("Xcite Energy" or the "Company"

MOU with Teekay Shipping



Xcite Energy announces that its 100% subsidiary, Xcite Energy Resources Limited ("XER"), has entered into a Memorandum of Understanding ("MOU") with Teekay Shipping Norway AS ("Teekay"), which sets out the principles of co-operation for the supply of a bridge linked Sevan floating storage and offloading ("FSO") facility for the life of the Bentley field.

XER and Teekay intend to work together on an exclusive basis during the project, from front end engineering through fabrication, hook up and onwards into production operations and maintenance.

XER believes that the bridge linked Sevan FSO offers a number of significant benefits to the overall Bentley field development concept, including available deck space to locate utilities on either the platform or FSO. In addition, XER believes that there would be reduced flow assurance risk, due to the removal of subsea pipelines and minimised motion characteristics to aid reservoir fluid dehydration.



Rupert Cole, CEO of Xcite Energy, commented:



"We are very pleased to be joined by Teekay as a partner in the development group, following on from their important role in the successful Bentley extended well test. Building on this relationship as we progress Bentley towards production, we believe will deliver the Sevan FSO as a vital component of the Bentley field development plan."

required field - 06 May 2014 11:13 - 315 of 391

Blimey....the dragon has been awoken .....

Balerboy - 06 May 2014 12:55 - 316 of 391

Lets hope so.,.

markymar - 06 May 2014 13:29 - 317 of 391

Buyers back in so jumped on bandwagon for ride.

markymar - 06 May 2014 14:41 - 318 of 391

http://www.iii.co.uk/articles/164117/xcite-set-bidding-war

A collaboration agreement between a subsidiary of Xcite Energy (XEL), Royal Dutch Shell (RDSB) and Statoil (STO) has prompted rumours of a takeover.

The market reacted positively to the news and Xcite's share price rose by over 16% in morning trading to 74.25p with a spread of 0.75p. The group has a market capitalisation of £185 million and was the best performer in the AIM 100 index, which was down in morning trading.

Xcite Energy Resources (XER) and the two leading oil and gas companies will share field-specific information for the evaluation of collaborations between the Bentley and Bressay fields. The trio will work towards using common infrastructure, assets and operational solutions in the fields' development.

The Bentley field is 100% owned by XER. Statoil has a 81.625% working interest in the Bressay field and Shell holds the remaining stake.

Chief executive Rupert Cole said: "We are pleased to continue to work with Statoil and Shell in this important initiative and, following their purchase of the Bentley EWT data in 2013, believe that it demonstrates the value that independent oil companies can bring to the North Sea to unlock major energy assets.

"We also believe that the principles contained in this Collaboration Agreement complement the recent UK Government commissioned report, 'UKCS Maximising Recovery Review' by Sir Ian Wood, and will provide an important early framework through which additional value can be captured in area development scenarios."

Investor view

The majority of users on the Interactive Investor discussion board were pleased with Tuesday's update, with some saying it indicated interest in a potential takeover.

'Bigbootsss' said: "Not only did Statoil buy the data, so did Shell. So two biggies toying for the asset. Will they work together or will this eventually end up in a bidding war for XEL? Either way this is a massive announcement and a win-win for XEL and their shareholders."

'RedDragon3' thought the update signalled a cheap acquisition of assets. The user said: "So the move to acquire Xcite's assets as cheaply as possible continues apace. Shell and Statoil will not be doing this for nothing. Ask yourself who is in the strongest bargaining position, the people who own the safe, or the people who have the combination and the means to open it."

However, 'wahlburg' said: "Rubbish. If they wanted to acquire XEL as quickly as possible the time would be now. XEL have 'the combination and the means to open it' as demonstrated by the data sale."

Rating Xcite 'buy', 'ArtemisSA' commented: "Another good news story again this morning. Could Xcite be about to live up to its name? Someone said on here recently that the supermajors wouldn't have any interest in Xcite. I don't believe that for a minute. Statoil have always been in the wings. As the large oils increasingly struggle with their CAPEX, maybe little ol' Xcite has something useful to teach them. As for the 'worked-out' North Sea, the LSE:BP.:BP chief for North America at the OTC in Houston yesterday named the North Sea as one of the company's four most important areas globally."

Also dismissing cheap asset buying, 'BigBootsss' added: "It is clear that Rupert is playing hard ball here. Will not sell the asset on the cheap, he knows what it is worth, more importantly is that Statoil AND Shell know how important and how good this asset is, so what Rupert is doing is getting into bed with two majors but will only get out when the right number is put in front of him. Ask yourself why would Statoil and Shell link up with such a minnow if there was not an end game here? Take out by both or either, either way this is massive for XEL shareholders."

Bentley field

Drawing attention to the timeline of the Bentley field, 'rollthediceagain' said: "XEL quantified the asset years ago so when are they actually going to monetise it by actually producing anything? It's fine getting in bed with all these big names but why's it taken so long and what's the timeline to production."

'Palspurs' replied: "Wait for developments. This confirmation is the first concrete step to production. Hopefully this process will move apace - note the reference to the Wood report. We are going to production - it's now a matter of time as the process and stages to production are ticked off - yipee indeed and at last."

Now the collaboration had been agreed, 'Tomthebomb' thought the timeline would now speed up. "If anyone was ever worried about holding XEL it should have changed now. We are now operators with a 100% interest in a 256 metre 2P field including memorandum of understandings with TEEKAY (TK), AMEC (AMEC) and ARUP. We have sold 150,000 barrels to BP for $100 per barrel (p/b). We now also have an agreement in place with Statoil and Shell.

"Development of Bentley will be fast tracked now in my opinion. We should also get information with regards to reserve-based lending soon. A takeover is looking even more likely now. I want the board of directors to make sure they have drilled at least one in Blackbeard before selling up though. We have potentially another Bentley there. $15-20 p/b x 2..."

Of the market's reaction to the update, 'Ranger gb' said: "This should fly, we should easily be at 120p in short term based on this great news not 70p.

However, some users were not convinced by the news. 'Middler2' said: "I wish I could be as confident. The RNS said virtually nothing. What does collaboration mean? And why Shell? If BP or Statoil thought it was that good, why not say they will provide the finance and infrastructure and let XEL lead with their understanding of the field? I am afraid I don't even see it as a holding RNS and I really want to. XEL is my biggest holding."

'Wahlburg' reminded the user: "Why Shell? Because they have an 18.375% interest in Bressay."

panto - 06 May 2014 15:30 - 319 of 391

Looks positive this afternoon after the 1/3 profit taking on reaching 73p the bounce was on as buyers and Level 2 signaling the turning

the depth in orders on the Level 2 is 35 v 21
bought some at 75.20p

Chart.aspx?Provider=EODIntra&Code=XEL&Si

cynic - 06 May 2014 15:35 - 320 of 391

it would be very nice if this rise proves sustainable instead of just a few lemmings getting on board on the basis of a weakly rumoured t/o

panto - 06 May 2014 16:39 - 321 of 391

Supper finish, and though it was tough as it was reaching 80p, once it did go through it went up fast
with spread of 81.75 v 82p and the UT at 82p

panto - 06 May 2014 23:16 - 322 of 391

In London was up by 28.63%, but back in Canada finished up by 35.55%

XEL Xcite enegi 82p - 28.63%

Yesterday 1.125c
today 1.525c - 35.55%

p.php?pid=staticchart&s=TX%5EXEL&p=0&t=1
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