.

As a flow rate expectation reminder its worth noting the company wants over 1200 bopd.

Lower than that they will have to tweak the completion a little in order to boost the rate, all is not lost just will need a bit more work.

Over 1500 bopd would be a very good result.

If you get over 2000 bopd then you can call it a superb result.


Worth re-reading the Wellington West Update of Oct.

http://www.xcite-energy.com/docs/XEL_10262010%20Wellington%20West.pdf

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RF - glad you have some sense; your post reiterates my own oft-voiced views ..... only idiots (now who might fall into that category i wonder?) mock those who so act, though usually with the unerring benefit of hindsight

Thanks.....I'm still hoping for a good result on the flow test....might be monday morning.....when this vital rns is issued....

http://business.scotsman.com/business/Oil-firm-Xcite39s-shares-soar.6650220.jp

"Oil firm Xcite's shares soar 800% on Shetland field news

Published Date: 05 December 2010
By Perry Gourley

ABERDEEN oil firm Xcite Energy has been touted as the "new Dana Petroleum" as its shares rocketed to fresh highs ahead of an update expected this week on its exploration work in the North Sea.

The firm, based in a city business park, has seen a dramatic rise in the value of its shares amid positive news on its Bentley oilfield around 100 miles (160km) east of the Shetland Isles.

In February its shares were trading at just 35p on the Aternative Investment Market (Aim) but by market close on Friday they had risen by more 800 per cent to reach a record level of 332p, valuing the business at 518 million.

Shareholders - including Standard Life Investments which has 4.5 per cent of the shares - are sitting on stellar gains and many of the directors and senior management have been made paper millionaires in a matter of months.

Industry veterans Steven Kew, Richard Smith and Rupert Cole, who are executive directors of the company, each own more than six million shares, worth almost 21m.

The company's share price gains have also seen other managers at the firm share in a paper profit of more than 4.3m after 3.6 million share options were awarded to bosses in recognition of progress on the Bentley oil field.

When the options were granted just five weeks ago the share price was around 200p.

Xcite shares saw further strong gains last week after the company revealed a defensive "shareholder rights plan" to help repel a hostile takeover bid if necessary.

The plan allows existing shareholders to buy new Xcite shares equal to the amount they already own at a substantial discount if another party tries to acquire 20 per cent or more of the company in a bid.

Although it is not thought any takeover approaches are imminent, a further positive Bentley update could see the firm attract interest from a larger oil company. A report from house broker Arbuthnot recently said positive figures from Xcite's current well "would transform the company into the third largest independent exploration and production company" based on its North Sea reserves, behind Premier Oil and Dana.

The report also pointed out that unlike Dana, which has seen been acquired by Korean buyers, Xcite would have a "kingmaker" asset in Bentley rather than a fragmented portfolio."

let's hope the above is not just a pipedream ..... meanwhile, you guys should also keep an eye on PMO (Premier) which has not only been performing very well indeed, but has been mooted as a t/o target in recent weeks

have just banked further profits here, leaving myself still a bit o'weight but a lot more sanguine regarding the imminent RNS

============

all starting to look a little flakey ..... we shall see

Ditto...funny that....still have plenty but happier with a reduced position as I had far too many....

i was watching live on L2 ...... no huge offerings that i could see, but almost all that came through were sales .... whether or not that was just prudent PIs like you and me, i do not know, but all should be revealed within the next day or two

Rumours abound on the other BBs.

Mainly that the flow test has not been completed and XEL have pulled out of the Oil Barrel conference (because they have nothing to report).

MMs must be very happy this afternoon.

Whilst I have no idea if the rumours are true, it's fairly typical of an oil stock approaching an important RNS.

tricky call it has to be said - especially if one is tempted to be greedy

If there are leaks out sp usually rise's pre report. must admit don't like the drop at this stage.,.

RNS - Delays due to weather conditions.

esp greedy in a stock you havent even researched thoroughly cynners.{ myself. that is )-.....sold approx 80% of remaining holding this morning on the mini surge @323p.; cant complain on a 5 figure return though hey bro....:-))...l see XEL trading sideways today; but one thing for sure is that mms will expoit this delay; and what with s/p all over the place im best out of this one ....but leaving a few to ride the storm ...

hi my little frogspawn ..... you should know by now that i am far too thick and lazy to research ...... i have been lucky(?) enough to make (and bank) a significant amount since i first bought at 47 back in may ..... sp is certainly pretty skittish at the moment, no doubt brought on by nerves following the DES shambles

taking a dive this morning is it a buy or sell???

There are about 550k buys and 350k sells recorded at present. Looks like the MMs are walking it down [runnning it down really] to get their hands on the stock. Maybe they think it is really going to go up very soon?

this is why i am not keen on MM-only stocks ..... trading is particularly opaque
very difficult call this, but i certainly wouldn't top up unless current exposure was low

Reckon on news Monday with good weather over w/end, topped up with a few more.....greedy bugger.,.

Don't have too many of these any longer......but will hold what's left for the final push.....not sure what is going to happen...the danger is of not getting it to flow.....that is what is worrying me.....just had to take 80% profits.....

Changed my mind and bought back some cheaper.....lovely....