.

no doubt the above will be translated into english at some point

however, as far as i understand things, the Bentley field has pretty much been determined as as very large ....... BUT because it is unsexy heavy oil, which inter alia requires quite significant doses of "viagra" early in its life to persuade it to flow, the key question for immediate answering is, "What is the flowrate like without this stimulation"

Ricardo, there is quite a lot of significant background information available in various research notes, this is an extract from Edisons (Oct 10). Naturally it doesn't answer the question of 'how will it flow?', but does give a flavour of the challenges.


The only well to be successfully tested to date in Bentley is 9/3b-5, drilled by Xcite in December 2007. The test was carried out in January 2008 and designed to recover oil to surface to prove fluid characteristics. The test string contained an electrical submersible pump (ESP), which was necessary as the viscous oil was not able to flow naturally. Stable flow rates were not achieved during the test, curtailed due to bad weather, but an average flow rate 109bopd was achieved, with a range of circa 100-250bopd.

Subsequent test data analysis by Xcite and Schlumberger showed that the well had a high skin (a measure of formation damage in the well). If the well is modelled for no damage and a full pay zone perforation, a corrected flow rate from the well would be 647bopd. (Note that this flow rate is for a vertical well. The CPR estimates that a rate of around 3,700bopd could be achievable for a horizontal well.) Comparison with the analogue field, Bressay, is also important. The stable flow rate achieved from Bressay 3/28a-2 well was over 3,200bopd from a 140 ft vertical section with similar oil. Xcite requires 1,200bopd from its 500m horizontal #6 well to prove the Bentley downside commerciality in the CPR, with 1,800bopd for base case and 2,400bopd for the upside case. Success with the #6 well will be measured in terms of both proving actual flow rate (as a function of the available well) as well as the ability to control the flow of oil to the surface.

thanks Peter .... F cold playing joke golf today; glad i'm off to sunnier climes for a week ..... looks a tricky call on XEL flowtest and certainly beyond my little brain's capability of calculating

thanks Peter .... F cold playing joke golf today; glad i'm off to sunnier climes for a week ..... looks a tricky call on XEL flowtest and certainly beyond my little brain's capability of calculating

Strong start, might we get much nearer 300p today ?

Well worth watching.


http://www.proactiveinvestors.co.uk/companies/stocktube/611/david-hart-of-westhouse-securities-takes-a-portfolio-approach-to-investing-in-exploration-stocks-611.html
David Hart of Westhouse Securities takes a portfolio approach to investing in exploration stocks

Monday, November 29, 2010

David Hart, Oil & Gas analyst at Westhouse Securities, tells Proactive Investors why a portfolio approach is better for investing in exploration companies. He looks at Petro Matad, Encore Oil, Nautical Petroleum, Xcite Energy, Rockhopper Exploration and Desire Petroleum...........

Betty is now underway to the rig..... at long last... :)

Its official.

Betty Knutsen to arrive Bentley field at 14:00 hours today. Info just updated as follows :


Voyage Related Info (Last Received)
Draught: 8.5 m
Destination: BENTLEY
ETA: 2010-11-30 14:00
Info Received: 2010-11-30 01:08 (0d, 0h 39min 56s ago)

Must admit I can't understand the child like behaviour of monitoring ship movements every minute of every day. XEL are expected to report the flow test results during the first week of dec and I'm quite happy they will ensure all is in place to achieve that deadline (including the sailing of the Betty).

http://www.investegate.co.uk/Article.aspx?id=201011300700100056X

What a nice RNS, protecting shareholders rights. One gets the impression they are aware that someone is going to come steaming in with a cheap takeover the moment the new well completion design is proven and proves Bentley to be commercial.

Make them wait and pay the proper price, great foresight by the board.

.

Mr. P ...Reg;Latest RNS ......the interpolation thus being that there are perhaps indeed predators lurking in the wings ? .....and who is to say what will constitute fair value ? ..For example would 400p be fair value ?. Personally i would bite thier hand off .....Furthermore this begs the question .Do you see the very need for such an RNS as indirectly implying the drill/ flow test will prove an odds on success ?

400???? ..... i don't think i'ld complain much either

200 MMBO recoverable with the tax incentives is worth 2 Billion US$.

I would accept 650p and no less.

Good post over on TMF

http://boards.fool.co.uk/xcite-go-with-the-flow--12109512.aspx?result=RecSuccess


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Cynic, hows the sunshine.,. can't see it myself as have head well and truly stuck in the ground....emu

really quite nice ..... even saw some of your cousins today in the game reserve ...... i've got a great pic which i may forward to Toya to post for me, unless one of you guys know how to do it (i did it once but it was hugely complicated for my ossified brain)

A reminder for any interested, XEL will be there presenting. Betty had come back and now back off to Bentley again, so flow test to start probably Friday, it seems. DYOR.

39th Oilbarrel Forum

Date: Thursday 9 December 2010
Start time: 9:30 am

Location:The Brewery, Chiswell Street, London EC1Y 4SD

Sponsored By Opus Executive Partners & BDO

9th December 2010
9.30 am - 1.30 pm

Among the companies presenting are:

Cadogan Petroleum
Dominion Petroleum
Niche Group Plc
Tangiers Petroleum Ltd
Xcite Energy Resources


http://t1ps.com/shop/page-event/event_id-9


.

Shall probably regret this play as XEL seems to have all the hall marks of success ; but considering the plethora of positions held by many investors in XEL below 100p ect ect, and its current inability to challenge strong resistance at 290p level ,and furthermore considering i hold at 242p with little move for manouvre , i thought it prudent- being a % s player (as i always remind everyone and anyone) -to sell 40% which equated to 6,000 today . Albeit not quite a one trick pony, XEL has very little to fall back on if flow rates dont meet a currently very demanding market ,,, and i dont want to be carrying 15,000 if Bentley doesnt meet those expectations ,,,,,,,,,,,,,,as this will tank on a grand scale ...and very quickly given MM movement of s/p .. ,

TFC, it fell back yesterday as the tanker returned to Lerwick. The tanker went back to Bentley today and so is now at the rig.

All being well flow test starts very soon, so I expect a big rush for stock tomorrow and Monday and flow test results on the 7th or 8th Dec.

now you tell me ,,,lol ( only teasing Mr P ). ..But with greatest of respect Mr P you have reiterated those very expectations reg. shorters going cold and a rush for buyers on several occasions. Further more. and more to the point, you hold at a very low level which is in total antiphisis to myself ...and 50p profit p/s could have been wiped out within an hour in this stock as could profit i banked even from 220p level ...../. ,,,,,,,,,,,,,Please dont get me wrong as still anticipating success myself hence retention of 9,000- merely reducing exposure and crystalizing a quick paper profit lest things turn pearshaped .....As they say - NEVER SAY NEVER ..........Regards to you et al ...............