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Trying buying....... what the MM offers on L2 means jack, its what they are willing to actually sell to you. At the time it was nothing, zero stock.

120K sell in there loosened things up, they are offering again for 25K size trades now, buy or sell.

if i wanted i KNOW i could buy ..... if they weren't offering, it would show, as it does from time to time

Does anyone wonder why the informed and learned people are getting heavily into oil stocks..... ?? ;)


News today :


Warning of oil shortage after 2015

StockMarketWire.com

An industry taskforce has called for urgent action to deal with likely oil shortages after 2015.

This is the year that the taskforce estimates that global oil production will be at its highest level at less than 95m barrels per day and from then on production will either plateau or diminish bringing an end to the era of cheap oil.

The UK industry taskforce on Peak Oil and energy Security observes that the UK will be particularly badly hit by these factors with a tightening of supply leading to greater oil import dependency, rising and volatile prices, inflationary pressures and the risk of disruption to the transport system.

The report urges the Government to focus on new clean technologies, encouraging the ongoing introduction of lower carbon technology and trails of sustainable bio fuels

Story provided by StockMarketWire.com

that said, am i not correct in thinking that heavy oils have fewer applications than light ..... and of course the sulphur content is also very relevant

Diesel is running short cynic....... China announced today they are having to import massively to keep up with diesel demand.

As we all know: Bentley is an appraisal well.lt is not a question of whether oil exists within the said resavoir/s; more a question of its yield , and whether it can be brought to surface easily with good consistant flow rates . Moreover although the well maybe a producer of heavy oil it has been shown to be very low in sulphur content . Contrary to popularist theories espoused on this thread these two variables are not synonomous in that heavy oil equates to hi sulphur oil.That is a pure misnomer.,,And that is the real criterion as far as i can see..lrrespective of this China has the infrastructure to deal with this oil with consummate ease.

i am almost certain that diesel (and kerosene, avgas etc) can be produced from either light or heavy crude .... environmentalists will shun high-sulphur diesel, though i'ld guess that can be scrubbed out in the distillation - not that the chinese will care at all

spread is currently 287 /290 yet MMs selling a mere 5.000 @ 294.5 and 3000 @ 293.75 ......greedy mms or perhaps some-one knows something ........

you can buy (at least) 5k from CANA (Canacord Adams i assume) at 289

"Evolution Securities Keith Morris commented on Xcite Energys (LON:XEL, TSX:XEL) decision to contract a deep water jack-up unit, which is designed for simultaneous drilling and production.

This speaks volumes about the companys confidence in the productive capability of the field where the horizontal well (9/3b-6z) will be subject to a well test in the coming days, Morris said."

Betty Knutsen has now been "missing in action" for nearly 20 hours.

Where is she ?

Could easily now be at the rig and ready to take (or taking) her load........


http://www.marinetraffic.com/ais/default.aspx?oldmmsi=257392000&zoom=10&olddate=11/18/2010%204:53:01%20AM

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i may be reading this incorrectly, but i suspect there will be quite a lot of profit taking (generally) this afternoon on the basis that it's the weekend and the markets are looking pretty soft

Latest rumours suggests flow testing starting Monday 22nd Nov.


I am now getting preparations in place for.......

"One HELLUVA week"


Mon 29th to Fri 3rd Dec.


Potential - XEL flow test result 29th Nov (if not before)
Potential - DES drilling result 30th Nov onwards.
Potential - EOG Barchiz-1 drilling result 29th Nov onwards.


My oh my is that going to be one hell of a week

you may well be right ..... i just posted an observation, no more! ..... however, trading in XEL is pretty quiet today but sp slipping gently

Just sold a few and waiting to buy back so i can put them into my ISA account so i am hoping the SP might drop a little.

i sold some more at 281, which still leaves me well o'weight ..... however, if sp slips sufficiently (where to?), then i'll probably allow greed to take over

opening @ 268p must have acted as an early morning purgative of the most drastic variety for many ../ .lnstant relief for those with constipation ..;-). Be it a bad day on TSX ??...or a last ditch attempt by MMs to get some nice cheap stock - or as Cynners suggested -profit taking - and lets face it - there are a veritable army of PI's holding at extremely low levels ... ....Personally mucho glad to be out myself @ 292 and 288 yesterday ( sold 80%) as this was was not a stock i had fully researched myself; and to be candid was one of those rare cases where l bought purely on the back of the coatails of the air of general optimism that permeates the financial media . .ln short; a gamble .....not that i doubt the longer term holders will not be rewarded with some serious wedge here..........................but look at all the hype reg the Falkland oilees and the insanely high foreward looking s/ps pi s attatched to them -and subsequent retraction ;..and then looking at the chart for XEL ..............Sometimes its easiar to know when to buy as when to sell ..........But as i say long term holders wil not regret buying l............................................................ lf retracted back to 250 ish level id be back in

TFC - you and i tend to agree quite regularly ..... like you, i find it difficult to evaluate XEL - i.e. what is fair price ..... i SUSPECT that sp is still somewhat ahead of the game (so why don't i sell more/all?) but only the flowtest result will give any real clue ..... even then, almost regardless of the result, i would not be at all surprised to see an immediate slump in sp as the PIs and derivative holders cash in ..... that's exactly what happened with CEY after their results, and there was a short (small - you can't have short windows!) window of opportunity to jump in cheaply

There is a big difference between CEY and this one....cannot compare....if the flow is good and at the moment it looks as if it will be, then confirming a heck of a lot of crude in pllace will send the sp higher.....after a couple of days who knows...?..but for the moment,... up looks more likely to me...