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Xcite Energy - North Sea Heavy Oil (XEL)     

Proselenes - 22 Oct 2009 11:14


Proselenes - 21 Jan 2010 00:22 - 81 of 3002

As I said, people were moaning about the spread at 10p, 20p, 30p, 40p and now in the 50p levels.

The same people have missed out on 500% gain, 200% gain, 75% gain etc...

All said and done lots of people know this share has another 500% in it to rise, however they do not want to buy now they want to wait for drill results and fund raising and then get a risk free 100%. Thats why they post the way they do.

Me, I am happy to take the risk and go for another 500%, on top of the 200% already in the bag :)

hlyeo98 - 22 Jan 2010 16:04 - 82 of 3002

Good thing I sold the other day. XEL has moved down today to 51p.

eric824 - 23 Jan 2010 21:01 - 83 of 3002

bought at 5.35 10-11-08. sold at 33 29-04-09.
am going to "dip my bread in again"
think there might be some more to be had.

required field - 24 Jan 2010 12:48 - 84 of 3002

If they confirm the find a second time with this next well : 150p at least !.

Proselenes - 24 Jan 2010 23:55 - 85 of 3002

Yes, 125p to 150p range would be about right until funding was sorted and then upwards to say 250p levels after that with the plans for development being released.

hlyeo98 - 25 Jan 2010 17:47 - 86 of 3002

XEL is starting to show weakness. 48p now.

Proselenes - 25 Jan 2010 23:53 - 87 of 3002

Consolidation after the recent rises thats all. Nothing goes up in a straight line and my holdings are still well over 100% in profit and for this one, I am not selling.

Greed for the upside :)

Proselenes - 27 Jan 2010 23:16 - 88 of 3002

12% rise in Canada last night, so might be blue for XEL in London too later.

cynic - 28 Jan 2010 05:15 - 89 of 3002

london is bound to open strong (indicating +58) to very strong today, and even TLW my regain some ground! ..... strong in NY followed by big bounce (i think) in F/E ....... question is whether or not the gains can be held

Proselenes - 28 Jan 2010 07:16 - 90 of 3002

Nice news :


Xcite Energy Limited

("Xcite Energy" or the "Company")

January 28, 2010

Supply and Offtake Agreement with

BP Oil International Limited

Xcite Energy, a developer of heavy oil assets in the UK North Sea, today announces that Xcite Energy Resources Limited ("XER"), the 100% subsidiary of the Company and the 100% owner of the Bentley field, has concluded an agreement with BP Oil International Limited ("BPOI"), a wholly owned subsidiary of BP plc ("BP"), whereby BPOI will provide the offtake services to market and sell the Bentley crude oil in return for an incentive-based fee per barrel.

The offtake fee is directly related to the realised price achieved by BPOI for the Bentley crude oil in relation to the prevailing Brent crude price, incentivising BPOI to maximise the price per barrel achieved for XER by minimising the discount to Brent crude.

In addition, BPOI have undertaken that, subject to certain conditions, when Xcite Energy move to full field development, an associated BP company will procure $20m of financing from a commercial bank for Xcite Energy with credit support from BP, for the purpose of assisting with the full field development of the Bentley field, the terms of which will be negotiated in due course.

Richard Smith, Xcite Energy Chief Executive Officer commented:

"We are delighted to welcome BP Oil International as our offtake partner in the Bentley field. This is a relationship that brings the global resources and expertise of the BP oil trading organisation to manage the marketing and selling of the Bentley crude, together with assistance in financing the work programme as we move towards first oil on the field. This is another watershed for the Company, which underpins the value of Bentley crude through field life and significantly progresses the plan for development."

cynic - 28 Jan 2010 07:17 - 91 of 3002

can't harm sp ...... where is Bentley (too lazy to look) as i note big incentives to develop shetlands fields

required field - 28 Jan 2010 11:41 - 92 of 3002

Parked next to the Rolls...! the North sea not the Shetlands.

Dil - 28 Jan 2010 13:05 - 93 of 3002

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.

Proselenes - 28 Jan 2010 13:15 - 94 of 3002

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.

cynic - 29 Jan 2010 07:35 - 95 of 3002

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

Proselenes - 29 Jan 2010 11:30 - 96 of 3002

Mention in the FT.

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."

required field - 29 Jan 2010 11:40 - 97 of 3002

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 XEL and AEX by the way plus TLW not BP. at the moment.

cynic - 29 Jan 2010 12:55 - 98 of 3002

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

Proselenes - 30 Jan 2010 00:23 - 99 of 3002


hlyeo98 - 02 Feb 2010 18:18 - 100 of 3002

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