.

this is assuredly a much better (and safer!) bet than AFC

Depends what you call safe ?....this should be commercial and AFC have enormous potential....both sp's outperforming anything else this month.....AFC could pull back hence our profit taking on some....

163p seems to be a good buy today

Bit of a pullback....but this should go a lot further up sooner or later...

Yeah, I'm going to add more today.

Xcite just been awarded the licenses to the North West and South West of their present license it seems.

https://www.og.decc.gov.uk/upstream/licensing/26_rnd/award_maps/nns.pdf


So more good news coming !

With all the excitement on the FI stocks....missed this....will have to read...

After the nonsense little market shake...rebound now....onwards and upwards....go baby go....!...

Up 11p in last 10 minutes ... anything been leaked ?

OK back to normal now.

Doubt it...but this just has to rise during the next few weeks...and on a good flow test (for heavy crude)...I would expect a surge to 250p or so...perhaps more...

Article in shares mag this week fairly positive...

Yes...I read that.....got to hand it to them.....they were the first to spot this...why the market did not price this up after the first exploration well came up with the goods is beyond me....perhaps it's the long wait for this second well...anyway one of the best stocks on the market now....and still worth buying...that's what's amazing...I topped up with some more the other day...

the only reason i did not buy (still) more a week or so ago is because MM-only stocks always worry me ..... still, can hardly complain with the current (paper!) profit

Cynic ; it is isable.....you can trade that one quickly.....listed in Canada as well....I have to say that I have a huge paper profit showing at the moment....

not sure that CFDs are, and though i know the stock is reasonably liquid, i like to have an idea of how the books stand (whatever their shortcomings) before putting money with mouth (hopefully without foot!)

Xcite Energy" or the "Company")



Financial Results for the 3 Month Period Ended September 30, 2010



Xcite Energy, a developer of heavy oil assets in the UK North Sea, today announces its unaudited financial results for the 3 month period ended September 30, 2010.



Highlights



v The 9/3b-6 well has now spud and an update on the excellent results of the pilot well was issued on October 25, 2010. Management believes this confirms that an upside structure is present in the eastern half of the reservoir, significantly increasing the volume of oil in place.



v UK 26th Offshore Licence Round award to Xcite Energy Resources Limited over Blocks 9/3c and 9/3d, thereby enhancing the development potential of the Block 9/3 area containing the Bentley field.



v Net assets up to 52.9 million as at September 30, 2010.



v Cash balances of 27.8 million as at September 30, 2010.



v Gross funding raised of circa 5.8 million in the 3 month period.



v Additional gross funding raised of circa 3 million since balance sheet date from draw down on Yorkville standby equity line. Balance of 17 million still available.



v Additional gross funding raised of circa 0.4 million from the exercise of share warrants and share options.





Richard Smith, Xcite Energy Chief Executive Officer commented:



"An excellent few months on all fronts, with the 9/3b-6 pilot well confirming that we have been conservative in our predictions for the Bentley field thus far. With the upside reservoir structure now confirmed and the 100% net to gross oil column, the location selection for the horizontal well test is an outstanding piece of planning by the team. We look forward to the next few weeks with high expectations."

Looks more and more like a 250p stock....

If the well test is good it will be a 400p to 600p stock.

Hehehe

BrokerManDan giving XEL a big push now.... ;)

http://brokermandaniel.com/

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