.

Morning Marky...saving my spikes for Saturday!

I've not got any of these but hope it heads back North for you all.

....opened on TSX at $3-60c / fell to a low of $3-10c only to finish relatively flat juste below opening s/p and ended session @$3-74c...........so no new clues there./ All heady stuff considering it was $5-250 c ten days ago ......

low volume + consistently wide spread this morning, but at least there's a modest improvement from yesterday

but for how long ? Theres the rub .....XEL has a tendancy to add a little weight during first hour of the day only to fall back as day progresses ..O/T ...Have you seen whopping 100% increase in s/p of GGG Cynners ......? What a bummer as nearly bought a couple of days ago ...

have never followd GGG .... from memory it's a chinese stock, and it's a matter of record here that i never trust them

GGG is actually down today. The 97% rise is due to a consolidation... deceiving.

Bought Xcite for 2.22 yesterday, nice to see a bit higher today :) Lets hope it continues upwards.

.You have a point Sinners ......All i know is that no-one walks out of China having made vast sums of easy money ,,,,,Cheers DD5 ....i suspected that variable due to the very precise doubling of s/p on a 1#2 ratio} ; but thanks for pointing this out..../.....rather jetlagged at the moment after long flight to my home in Port of Spain in Trinidad ......./.........hate brit/ French winters due to heridatory illness which -among other things - accentuates the effing cold ( Graves disease ) ....Last week when it was minus 5 i felt like my hands were so brittle they would simply snap off ................................................................................................................................XEL proving a bloody hard call / mms having a party here

Wed or Thu next week for news ? I am back in from 234p today.


Hyvast - 16 Dec'10 - 09:23 - 16742 of 16745

Hi all Ear to the Ground


Dont expect much boat activity for the next couple of days (weather)

Watch out for Helvia Fortune leaving Lerwick (Could be Late Saturday )

Weather indicates Sunday for testing to start, there seems to be a 2 day widow of opportunity.

Wednesday would look good for some news on the outcome.

May be time to say good bye to Betty

GGG have done a 2 4 1 consolidation.

Rig deal extended, price rebounds, looks like I got back in just at the right time :)

I think shorts are presently being toasted into submission.

Lets hope that the weather eases up in time for the weekend :) Fingers crossed

still a trick in the tail here.l believe. Furthermore i believe 99% of shorters were very cold on XEL

Excellent news as you do not give 4 million away unless they are 100% sure that this baby will flow and thats why I re topped up yesterday as I was very confident that it will, technology as changed so much over 10 year period and they have the top guys in to do the job.

The price should run away this afternoon especially when Toronto opens.just need some good weather.

marky - you haven't got that quite right - the cancellation clause was increased to $4m, but from what level i do not know

I think what Marky was getting at is that they wont need to cancel, thereby eliminating the possibility of paying out $4m?

cynic the extension of the LOI to 15th jan 2011 means that in the event of XEL terminating the agreement, presumably if the flow tests fail, then an extra $4m would have to be paid by XEL.

So either the board are total idiots signing a letter of intent for such a large some and counting there chickens before they hatch or they a very confident that this will flow to the desired rate.

marginally semantic argument, but yes XEL will have to shell out $4m in compensation if they cancel, but not an additional $4m ...... my guess is that unless the test is an unmitigated disaster, XEL will indeed commit to the rig ..... however, given the bits we know (do i know a bit more?), there is certainly a significant amount of oil present .... it seems to be its viscosity - i.e. its ability to flow freely and without further stimulation - that is being checked

on the other hand, it could be argued that if XEL know there is significant oil present, why do they not commit now?

cynic you are correct the termination penalty has been increased from $2.5 to $4m.Perhaps the reason for not signing the contract is to do with having to produce a $30m guarantee?