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

75 may be a good place to buy .... it's where it conveniently hits 25 dma

Thought there would be a pullback...very few shares go up now and stay up...very few...

bollocks ..... meant to get back in this morning, but got too tied up with contract matters and have missed the boat somewhat

Faroe Petroleum is another option Cynic.....pullback overdone this morning....will rebound...

11% down today, hit hard.

i think this is silly so have bought a few at 69.25

Memorandum of Understanding with AIBEL AS

RNS


RNS Number : 4351L

Xcite Energy Limited

04 July 2014






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



TSX-V, LSE-AIM: XEL





4 July 2014



Xcite Energy Limited

("Xcite Energy" or the "Company")



Memorandum of Understanding with AIBEL AS



Xcite Energy announces that its 100% subsidiary, Xcite Energy Resources Limited ("XER"), has entered into a Memorandum of Understanding ("MOU") with Aibel AS ("Aibel"), which sets out the principles for executing the Engineering, Procurement and Construction of the Ove Arup & Partners ("Arup") designed self-installing ACE platform selected for the Bentley field.

Aibel will work with AMEC, the international engineering and project management company, acting as XER's Project Management Contractor, to deliver the ACE platform. XER believes that the combination of the AMEC, Arup and Aibel project management, engineering, and construction experience will deliver a quality and cost effective asset.

Rupert Cole, CEO of Xcite Energy, commented:

"We are very pleased to have Aibel, with its experience and expertise in offshore projects, join the Bentley development group for the construction of the ACE platform, which has significant economic benefits over the life of the field, including rapid deployment and ease of decommissioning. This further validates our strategy and development plan as we continue to refine the project costs and reduce future schedule risk through the early involvement of our development partners, prior to submission of a field development plan."

Market talk -
Xcite shares (currently trading at 65p) to 254p per share. Edison, which expects FDP approval in 2015 and first oil in 2018, calculates a core net asset value of 146p.


August 15, 10:29 PM



Xcite Energy has suffered a similar fate to Gulf keystone and Quindell, losing around half of its market value. And if news is what the market wants to kick-start interest for a rerating, it looks like investors could be waiting a while.


Market Talk's insight:


Xcite Energy has suffered a similar fate to Gulf keystone and Quindell, losing around half of its market value. And if news is what the market wants to kick-start interest for a rerating, it looks like investors could be waiting a while.



Interactive Investor reported on Xcite's half-year results on Thursday, with the company saying it was making good progress towards submitting a field development plan for its Bentley project in the North Sea. But it's slow-going and there was not a great deal else to report in the oil company's half-year update.



Xcite had £41.5 million of cash on 30 June and is still expected to submit the field development plan (FDP) for the 257 million barrel of oil equivalent (mmboe) Bentley project at the end of the year

Broker and nominated advisor Liberum Capital decided not to publish any fresh forecasts Thursday, implying little has changed since its last piece of research back in April, when it cut its fair value assumption for Xcite shares (currently trading at 65p) to 254p per share. Edison, which expects FDP approval in 2015 and first oil in 2018, calculates a core net asset value of 146p.

Collaboration Agreement with Statoil and EnQuest

RNS


RNS Number : 2121R

Xcite Energy Limited

10 September 2014






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



TSX-V, LSE-AIM: XEL





10 September 2014



Xcite Energy Limited

("Xcite Energy" or the "Company")



Collaboration Agreement with Statoil and EnQuest



Xcite Energy announces that its 100% owned subsidiary, Xcite Energy Resources plc ("XER"), has entered into a Collaboration Agreement with Statoil (U.K.) Ltd. ("Statoil") and EnQuest Heather Limited ("EnQuest"), in order to share field-specific technical and operational information to evaluate the potential utilisation of common gas import infrastructure between the Kraken, Bentley and Bressay fields.

A joint XER, Statoil and EnQuest team will work together to analyse the current available information and develop a number of proposals to assess the potential benefits of installing a shared gas import pipeline in conjunction with the development of the Kraken, Bentley and Bressay fields.

Rupert Cole, CEO of Xcite Energy, commented:

"We are pleased to continue to work with Statoil and extend this to include EnQuest in the assessment of this shared infrastructure. This new collaboration with Statoil and EnQuest to assess this shared infrastructure is an important initiative, which highlights the scope of potential opportunities available to our respective projects.I believe that today's announcement further demonstrates that additional value can be created by companies collaborating in key development activities and it reinforces our commitment to "Maximising Economic Recovery" from the area immediately surrounding the Bentley field."

Watch: Rupert Cole, CEO: Xcite Energy - Baker Hughes MOU

Click here

Another one...drop way overdone.......a RF screaming buy !.....

you been very quiet lately rf.,.

Just very busy with work Balerboy....and the markets have been not very favourable....but perhaps a rebound for battered oilies is just around the corner....if I remember correctly : XEL's sp was around 23p when the appraisal well was flowed and Proselenes and myself were in it....and I think Cynic and a few others jumped in...it went to nearly four quid.....now it's back at 46p... was even lower last week.....just a crazy sp even though crude has dropped....

StockMarketWire.com
Xcite Energy said that following talks with the Oil and Gas Authority (OGA), the Secretary of State for the Department of Energy and Climate Change has extended the P.1078 licence containing the Bentley field until 30 June 2017.

This licence extension is expected to assist Xcite Energy Resources plc's ("XER", the Company's wholly owned subsidiary) current process to secure the financing required for the approval of its Bentley Field Development Plan and to repay its outstanding senior secured bonds, which are due for repayment by 30 June 2016.

Only need another 130p to break even. :-))

You and me both.

Not a great follower of this but looks like Statoil may be pulling out? Hope for the best.

Strong rise again today.

Rise over one week

Share Price Movement
RNS
RNS Number : 2338R
Xcite Energy Limited
07 March 2016

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: XEL



7 March 2016



Xcite Energy Limited



("Xcite Energy" or the "Company")



Share Price Movement





Xcite Energy notes the movement in its share price and can confirm it knows of no reason for this movement.







Forward-Looking Statements



This announcement contains certain forward-looking statements that are subject to the usual risk factors and uncertainties associated with the oil and gas exploration and production business. Whilst the Company believes the expectations reflected herein to be reasonable in light of the information available to it at this time, the actual outcome may be materially different owing to factors beyond the Company's control, or otherwise within the Company's control, for example, if the Company decides on a change of plan or strategy. Accordingly, no reliance may be placed on the figures contained in such forward-looking statements.



Notes to Editors



Xcite Energy (LSE-AIM: XEL) is an oil appraisal and development company with a portfolio of heavy oilfield assets in the Northern North Sea in the UK. Xcite Energy holds a 100% working interest in the Bentley field; a heavy oil field with 2P recoverable reserves of 265 MMstb, making Bentley one of the largest undeveloped oilfields in the UK Continental Shelf