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

It did amaze me why punters where still buying this..

Another one bites the dust........ happy christmas...... not :((

Could never understand why a partner never came forward. What happens to all that oil now ? Same here Balerboy.

the bentley field is heavy oil and not worth a lot per barrel
i don't know at what juncture it becomes viable to extract it, but presumably a lot higher than the present level

So along will come one of the big boys and all the hard work has been done.
I suppose the heavy oil can be used for power plants, ships and factories

it takes much more refining and hence its big discount to light crude
btw, ALL extracted crude has to be refined ..... you don't just extract it and send it off to the petrol pump or factory!

Cheers cynic.

22 November 2016

Court Hearing Date


Further to the Company's announcement on 25 October 2016, a petition to the Eastern Caribbean Supreme Court in the British Virgin Islands requesting, amongst other things, that the Company be placed into liquidation will be heard by the court on 5 December 2016.

29/11/2016 7:00am

NOTICE OF CANCELLATION OF ADMISSION TO TRADING ON AIM

XCITE ENERGY LIMITED

Trading on AIM for the under-mentioned securities has been cancelled from 29/11/2016 7:00am, pursuant to AIM Rule 1.

I bet this is a fraud of some kind......it has a big discovery in the north sea....was once a stockmarket darling !....crazy....

Don't I know it........ lost a lot on this one.