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Xcite Energy - North Sea Heavy Oil (XEL)     

Proselenes - 22 Oct 2009 11:14

.

dreamcatcher - 01 Dec 2011 08:10 - 2321 of 3002

Ow, in free fall.

dreamcatcher - 01 Dec 2011 08:12 - 2322 of 3002

Not good.

dreamcatcher - 01 Dec 2011 08:13 - 2323 of 3002

Market not happy.

mnamreh - 01 Dec 2011 08:16 - 2324 of 3002

.

dreamcatcher - 01 Dec 2011 08:17 - 2325 of 3002

Someones made a few bob today. lol

mnamreh - 01 Dec 2011 08:20 - 2326 of 3002

.

dreamcatcher - 01 Dec 2011 08:52 - 2327 of 3002

Fox-Davies Capital


8:02 am

Xcite Energy (LON:XEL) today announced that in response to feedback from the Department of Energy and Climate Change ("DECC") on the Bentley field development plan, the Company has re-configured its approach to the first phase of development of Bentley to provide a more financially efficient outcome. This re-configuration has allowed the Company to maintain the first oil date in 2012, while enabling t he completion of a more cost effective field development plan. The principal elements of this plan are Phase 1A with first oil planned for 2012, Phase 1B planned for 2013 and Phase 2 estimated to commence in 2016. The Company understands that the plan is in the final stages of DECC approval. If DECC approval is obtained, the financial resources to commence Phase 1A are available. The Company continues to make good progress with respect to securing additional sources of funding, including project finance from commercial lending banks. Whilst adopting this more financially efficient approach to Phase 1, the Company intends to pre-invest substantially in Phase 1B and Phase 2, with the objective of lowering the unit cost of oil produced and, thus, maximising the commercial industry value of the Bentley asset in advance of Phase 1B. Management considers that this re-configuration of the Phase 1 production and financial plans for the Bentley field should maximise share holder value. Further announcements will be made to the market as soon as practicable.

gibby - 01 Dec 2011 08:58 - 2328 of 3002

:-))))

http://www.dataexplorers.com/

Enter the ISIN code for Xcite in the box: VGG9828A1194

mitzy - 01 Dec 2011 08:58 - 2329 of 3002

Could fall 50% from here..

careful.

dreamcatcher - 01 Dec 2011 09:00 - 2330 of 3002

A joke

dreamcatcher - 01 Dec 2011 09:02 - 2331 of 3002

Company needs buying out and developing. This board of directors dont seem to have it. Should be a 4 + share now

dreamcatcher - 01 Dec 2011 09:11 - 2332 of 3002

Xcite won't exist in 2016 ?

DD5 - 01 Dec 2011 10:38 - 2333 of 3002

dc- is that a prediction or your reaction to something you have read?

dreamcatcher - 01 Dec 2011 11:48 - 2334 of 3002

Nothing I have read, DD5. I feel the Directors will pass on taking the company the full
distance.

mnamreh - 01 Dec 2011 11:49 - 2335 of 3002

Wow, still falling.

dreamcatcher - 01 Dec 2011 11:51 - 2336 of 3002

Was the news bad ?

mnamreh - 01 Dec 2011 12:07 - 2337 of 3002

.

scimitar - 01 Dec 2011 12:16 - 2338 of 3002

Can anyone explain please [one sylable words would help!] what is so bad about this news that it has knocked the sp so much?

mnamreh - 01 Dec 2011 12:20 - 2339 of 3002

.

mnamreh - 01 Dec 2011 12:22 - 2340 of 3002

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