.

To put things into perspective.

Encore (EO.) have about, taking in their percentages, presently only about 20 million recoverable barrels on their books they could claim, and hope for more.

Their market cap is over 360 million pounds.


Xcite (XEL) could soon be able to stick a 200 million recoverable barrels claim on their books and yet the market cap is still, at this moment, below that of EO.


That may demonstrate just how much upside potential there is here....... ;)

Thanks for keeping up the good work Proselenes.....your posts are excellent on here....

read into rf's above post what you like.,. lol

On here they are excellent....not always so good elsewhere....

though it's very difficult to work out with an MM stock even on L2, as far as i can determine, there are virtually no sellers - yet

We better hope that the flow test is good....it does look like an amazing stock this one...and the thing is that it could double from here....unbelievable but it could....I'm starting to wonder if this isn't the black eldorado here....?...

3/9 now bidding 213, and SCAP bidding 213 but offering none ..... if i read that correctly, it looks as if there is still a lot of unsatisfied demand

.

Cynic : you need to adjust clicking speed of your mouse....you will have to go to all programs or the control panel and move the cursor down ...perhaps that's the problem with the double posts...perhaps...or too much of the vino last night..

The oil price is shooting up and also the price of gold, almost $40 dollars today....incredible....

it perhaps happens because i re-read and/or edit before posting ...... meanwhile, i have just banked a big slab of profit

Like you say...never wrong with banking a profit......but I would like to think that there is a lot more to come from this one....

i have just sold another smaller slice, again at 211 .... this still leaves me o'weight at cost, but if things start to motor again, or even tumble on profit-taking, i have plenty of room to buy back

rocking in Toronto tonight on monster volume!!

http://tmx.quotemedia.com/quote.php?qm_symbol=XEL

not quite true ..... it really only closed an additional $0.14 higher from opening, which itself would have reflected london

Taking the post from SH, copied over and highlighted below in italics, it is interesting consider and could explain the decision to drawdown, the Jurassic certainly is in play now, thats why they drilled the pilot down deeper to see if it was oil bearing, which it is.

A sidetrack test of it up-dip, along with some logging and coring could certainly excite things, in particular if the results are good, it might be a nice Christmas bonus for Xcite holders.

Certainly I have been and still am expecting flow test results on the main target around the middle of this month, but a sidetrack test of the now known to exist secondary target might prove quite interesting.

Nice strong close in Canada as well, closed rising upwards at C$3.59 which is circa 2.20



"..........The weather window for testing seems to be excellent. Over the next 7 days the waves are expected to be mainly below 3 meters and the wind to be mainly under 20 kmh. Couldn't have hoped for better weather, especially at this time of year in the North Sea.

They booked the rig for 65 days just in case the weather did not co-operate. This did not happen. Therefore, they should probably finish testing by mid November, leaving about 20 days on the rig availability, more than enough to drill a sidetrack.

At the same time, in their pilot well they hit 15 feet of Jurrasic oil pay below Bentley, hopefully light oil. As their primary goal was not the Jurassic, the hole was at the very fringe of the Jurassic, thus the limited thickness.

I would not be surprised that once they finish testing Bentley, hopefully by mid November, and if everything goes according to plan, that they will decide to drill a sidetrack that would hit the Jurassic about 500 meters or more towards the centre. The Jurassic's aerial extent is quite large per the company's maps. So if they can establish a thickness of say 50 feet and do at least a log test, the value of the company would increase considerably and we would have two oil plays stacked above each other. Not bad.

This is just conjecture on my part, but it could explain why they decided to drawdown on the SEDA facility today at a lower price than they could have got in a week's time."...........

I said it earlier and I'll say it again :

To put things into perspective.

Encore (EO.) have about, taking in their percentages, presently only about 20 million recoverable barrels on their books they could claim, and hope for more.

Their market cap is over 360 million pounds.


Xcite (XEL) could soon be able to stick a 200 million recoverable barrels claim on their books and yet the market cap is still, at this moment, below that of EO.

Now yes, XEL has heavy oil but the discount is nowhere near what is presently priced by the market for XEL. Therefore I do easily see, on good news with good flow rates a rise into the 400p to 600p range, or more. Certainly if flow rates are very good and also good comments on the upside of the structure due to the better than expected gross to net pay (confirmed 100%) and also the thicker nature of the pay zone than anticipated then it should be nearer the 600p than the 400p.

That may demonstrate just how much upside potential there is here....... XEL does not have the good or the bad news priced in - it remains presently floating in the never land of uncertainty but its floating higher as with each day that passes and each drilling op or completion op thats finished, the risk level lowers, but should good news come then by any metric and comparison to peers, a very solid re-rating upwards is going to happen, for what will become the 3rd largest independent operating in the North Sea in terms of "reserves".

My view, on good flow test and good upside is that XEL, with what will be proven reserves at that time, should be approaching a billion pounds valuation - and today its below 350 million. They have a lot of recoverable oil, and soon, all being well, it will be declared commercial and can be moved to being "booked reserves", and along with that comes the re-rating.

Where it goes past a billion pounds depends on the upsides and what is said...........and what happens down the line.

PROS - without having a serious dig at you, did you not also say that RKH should be north of 600p even on 140 mmbl?

giving the viscous nature of XEL's oil, i wonder what % of "reserves" are reckoned as truly recoverable ...... i suspect that by year end (at the latest) that XEL's sp will be higher than it is now, but by how much is a good question, as is the extent of the almost undoubted hefty profit-taking on the announcement re the flow test

600p less dilution from the placing would be about 400p, and its not far from there and if/when DES finally strike some oil it should be about there.

All figures so far have been very conservative and the company reckon they can recover more than you read in the broker notes/reports.

All in all, it should make a serious move upwards.