.

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....

volume no heavier than usual, but buying could as easily be the wrong call as right

stop sitting the fence .,.

i like the spike and splinters up my bum! ...... support may be at about 270 at 25 dma

The rns we are waiting for might be on monday morning......might be some leaks out before then....

Released at 4pm

9/3b-6z Well Update



The Company announces that the 9/3b-6z horizontal well section on the Bentley field has not yet commenced the test phase and is still waiting on weather. The well test is expected to commence as soon as conditions allow.



cyril

Thanks...missed that....

on that basis, possibly a good time to jump in - i.e. very short-term holders forced out, pushing down sp

opinion of others, far more knowledgeable then me, would be appreciated

Ricardo

The situation is a relative simple one:

XEL have a 100% interest in the Bentley oil field which is estimated to hold approx 200mmboe and perhaps considerably more. This has the potential to transform XEL into the 3rd largest independent E&P company (in terms of reserves) active in the UK North Sea today (behind Dana & Premier Oil) and they could overtake both.

The only drawback I can see it that the discovery is heavy oil and its flow properties are not good, however, XEL have done their homework and liaised very closely with the operators of the Bressay field next door. They have drilled a horizontal well (complete) to maximise Chance of Success (which depending on who you listen to is 70%-80%).

The final phase of this stage is the flow test, which was supposed to have started last week but has been delayed by weather. You may have read posts mentioning the 'Betty' which is actually the tanker contracted to take off the oil from the test. Until the weather abates the Betty cannot hook up to the rig. There may be a weather window over the weekend.

The test is expected to take 3-5 days.

The test will be considered successfull if it knocks out 1200 bopd, which is the min figure to look out for when the RNS appears, slightly less may be acceptable. For info Bressay, produces at 3000bopd (approx). On completion of the test, expect to see the contingent resouce base converted into reserves.

Essentially you have to decide whether the oil will flow commercially, even if it doesn't on this occasion the oil will still be there and I expect XEL to re-evaluate. I imagine the SP will be trashed on bad news (-50%?) and surge (+50%) on good. +50% is very, very conservative - Arbuthnot, the house broker has something like an 800p target (but then, they are the HB).

The fall from 330p is probably predicated upon disappointment the FT has not been completed which in turn has led to short term traders closing and perhaps those not so confident (losing profits?) selling.

i would hope that at the present level, there is not much downside, and indeed, i let greed get the better of me yesterday and i bought a few more at 287 .... do you also hold?

Yep, have an average of 268p (was 255p) but added some more yesterday during the first sell off and then the second dip towards the close. Prepared for bad news or good, good will far outweigh the impact of bad IMO.

also bought more yesterday and am now very over wieght for me, greed getting the better of me. ave 186.,.

In with quite a few...but a lot ..lot less than before....as I had a very low entry level for most of mine.....free ride on remaining.....if this was at 200p...I would have more....but anything above 300p has forced me into profit taking due to risk.....so now waiting for flow result.....but if it does not come right ; for me it will now not be a disaster.....;.....trading in the markets is all about risk assessment and how much one is prepared to lose in a bad downturn....it's also more difficult for me as I cannot watch all the time and get caught out....

Strong week ahead...... !