.

I bought a few in mid December , story looks good and today's announcement seems to confirm things are on track.

Onwards and upwards , 80p first target.

My final target is 500p to 700p a share.

So fingers crossed in 18 months time or so :) with a good wind and good fortune and luck with the drill bit.

thanks RF ..... i take it your RR is not parked in the north sea either!

Mention in the FT.

http://www.ft.com/cms/s/0/0788dd7a-0c76-11df-a941-00144feabdc0.html

Hopes rise for Xcite Energy

By Neil Hume and Bryce Elder

Published: January 29 2010 02:00 | Last updated: January 29 2010 02:00

Xcite Energy was in demand yesterday, rising 8.7 per cent to 50p on news of a supply and financing agreement with BP for its flagship asset.

Xcite owns the Bentley heavy oil field, which is one of the largest undeveloped fields of the UK continental shelf. If the company is able to convert the resource base of viscous oil into reserves, Xcite would become the third-largest oil company active in the North Sea, according to analysts.

"This is a very positive step for the company, which has now attracted two very strong partners [Fugro, and now BP] to commercialise the field, said Dougie Youngson of Arbuthnot Securities. "The announcement de-risks the development phase of the project and also enhances its economics as the heavy oil discount should be reduced."

The likes of BP don't get jump in with minnows unless it is an almost sure thing......could say the same with the TLW-AEX relationship but to me that is a little bit riskier.....in XEL and AEX by the way plus TLW not BP. at the moment.

the rns re fugro was a positive, and of course, this latest one, even more so ..... however, unless i have missed something, there is no timetable as to when XEL will start drilling .... if so, no wonder sp is totally stagnant

.

XEL is starting to show lowering peaks.
SELL.... Now 46.5p

certainly a disappointing day for this stock when most oilies were strongly ahead ..... see my post 98

Funny isn't it.

The stock is up 1000% (yes one thousand) percent in 12 months and people start seeing a little profit taking as "bad signs".

LOL :)

The coming drill could see the price zoom past 100p and more, now, for those with 1000% gains they might take a little profit, others will be coming in for the potential 100% short term and the other 1000% in the longer term possible.

I will add more at 40p, if it goes there.

in that case please tell us when this drilling prog is to start, as i have seen nothing

It's 40p now. Have you added more, Proselenes?

You didn't have to wait long for it.
In my opinion, it's back to 20p.

Crazy drop.....nuts....those you want to get in should in my opinion.

hyleo - so have you shorted? ..... if not, then suggest you do and marry money to mouth instead of hotair to same - and no, i do not hold these

Good for you, cynic. Wow...u seem to be in a real bad mood today.

i take it that you haven't shorted this or any other stock then, so clearly no belief in what you say or no balls or both

Well, to be honest, shorted at 48p. Wanted to short at 50p but missed it.

hyleo - it's incredibly easy to paste up charts when markets have plummeted or rocketed, but their validity becomes slightly questionable, as baby and bathwater do tend to intermingle at these times