.

thanks mnamreh. Various comments about the Board - none complementary. Entertaining bulletin board - if I wasnt exposed re the share.

Wow should be 21% up, mine are 3.40 what a laugh

Comment from Oriel Securities:
Xcite announced this morning that it has reconfigured the Bentley field development plan to include Phases 1A, 1B and 2.
Phase 1A is expected to comprise of a first motherbore well and a minimum of two multilateral production wells. Crude will be produced and transferred to a shuttle tanker where it will be mixed with a diluent which should allow blending and marketing tests to be completed.
Phase 1B is expected to comprise of a wellhead tower with four additional wells which will be produced via an FPSO for c.3 years. Phase 1B is expected to commence in late 2013 and should recover c.25-35mmb from the 5 wells.
Phase 2 is essentially unchanged with plans for a permanent production platform comprising full processing, drilling and accommodation facilities.
The revised development is in the final stages of DECC approval and if this is obtained the Company notes that financial resources for Phase 1A are available (Xcite has contracted and pre-paid for the Rowan Norway for 240 days).
Overall we dont expect to see significant changes to our unrisked NAV following this update (based on our initial analysis this will drop to 348p/sh from 372p/sh), but see that the timing and costs of Phase 1B are difficult to forecast given the tight FPSO market and are moving this into our appraisal NAV with a 75% risking (consistent with our approach in other E&P companies). Given the potential uncertainties on Phase 1B we are also increasing our risking on Phase 2. Overall our risked NAV is likely to drop to c.200p/sh (vs 317p/sh previously).
Pending further analysis we are placing our recommendation Under Review, but note that the shares are likely to be volatile given the first phase of commercial production has been pushed back into 2013/2014.

Xcite Energy plummets on drilling reschedule
Thu 01 Dec 2011

http://www.sharecast.com/cgi-bin/sharecast/story.cgi?story_id=5177339
LONDON (SHARECAST) - Xcite Energy, the North Sea focused oil company, has fallen dramatically this morning following an announcement that it has re-configured its approach to development of the Bentley field.

The re-configuration constitutes a change to the schedule for extracting oil from Bentley in response to feedback from the Department for Energy and Climate Change.

The companys first oil is still expected in 2012 but the next two phases of development will take until 2016. It claims this approach will be more cost efficient.

At 11.38am Xcite shares were down 19.5% at 90.15p. In the year to date the firms share price has plunged 75%.

My thoughts, the company have mislead investors ?

What are they playing at.

Shocking, what else is there to say.



">

Dreamcather: I'm sure we could all think of other things to say, but their not printable.

Thats why I said its shocking scimitar, I have been polite. lol

Rig Status Update
RNS




RNS Number : 3099T
Xcite Energy Limited
05 December 2011









NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION







TSX-V, LSE-AIM: XEL















5 December 2011







Xcite Energy Limited



("Xcite Energy" or the "Company")







Rig Status Update











The Company announces that, as expected, the Rowan Norway jack-up rig has been made available to Xcite Energy Resources Limited ("XER") and is now on hire, subject to a satisfactory audit and inspection prior to acceptance.







Following acceptance and in accordance with the originally scheduled work programme in Dundee, the rig will be modified to accept drilling and processing equipment, before being appropriately equipped and prepared by XER prior to deployment to the Bentley field as soon as practicable. This is expected to be early February 2012, subject to suitable weather conditions prevailing and all expected permits and consents having been obtained, after which the Company expects to commence drilling for Phase 1A of the First Phase Development of Bentley.

Additional Listing and Total Voting Rights
RNS




RNS Number : 3393T
Xcite Energy Limited
05 December 2011













NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION











TSX-V, LSE-AIM: XEL















5 December 2011







Xcite Energy Limited



("Xcite Energy" or the "Company")







Additional Listing and Total Voting Rights







Further to the announcement in relation to the draw down on the Standby Equity Distribution Agreement issued on 1 December 2011, the Company announces that it has received conditional approval of the share issue by the TSX Venture Exchange and it has therefore made an application for the admission to AIM ("Admission") of 1,814,059 ordinary shares of no par value in the capital of the Company (the "New Ordinary Shares").



The New Ordinary Shares shall rank pari passu with the Company's existing issued ordinary shares of no par value ("Ordinary Shares") and dealings are expected to commence on 8 December 2011.



Following Admission, the Company's enlarged issued share capital will comprise 190,810,070 Ordinary Shares with one voting right per share. There are no shares held in treasury. The total number of voting rights in the Company is therefore 190,810,070.



This figure of 190,810,070 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules.

at what levels is this a good buying opportunity?

It was a good buying opportunity on the way down at 2.50, 2, 1.50 and now below a 1, may go lower in the near term.

DD5 you you are welcome to mine.

For once DC I have to agree......wish i'd sold at 3+

I purchased at 20p and sold near 400p.

So for me DD5 I will purchase again at 20p if possible, anywhere below 50p would be ok.

20p............cobblers

cobblers charge a lot more than 20p

i done ok on this one (sorry to those who havent) bought in at 2.22 and sold at 3.76. Never really got back in but its starting to tempt.
Really hope that it goes back up for all those locked in :)

Careful with this one.