- Today's Hot Chat Topics
- Member Benefits
- Manage your personalised Watchlist.
- Set up an online Virtual Portfolio.
- Participate in Share Chat.
- See more trades and director dealings.
- Play the Fantasy Share Trading Game.
Share:
HomeShare PricesStock PickerFinancial DiaryUK IndicesUK Industry SectorsCompany LookupShare RisersShare FallersBroker RatingsFinance GlossarySMS ServicesShare ChatFinance NewsBlogsLive PricesShares BookshopFinance ToolsMembers
Latest Share Chat
Xcite Energy Share News (XEL)
Share News for Xcite Energy (XEL)
| Share Price: 104.50 | Bid: 104.00 | Ask: 104.75 | Change: 1.25 (+1.21%) |  | ||||||
| ||||||||||
Xcite Energy Q2 loss widens; Bentley Field programme remains on track
Thu, 21st Aug 2008 14:37
LONDON (Thomson Financial) - Xcite Energy Ltd. said its second-quarter pretax loss widened aft
For three months to June 30, the heavy oil company posted a pretax loss of 249,801 pounds compared with 95 pounds the year earlier and its administrative expenses for the period rose to 530,552 pounds from 213 pounds.
The company said its cash balance at end-June, was 4.83 million pounds and in line with budget, adding that it has sufficient funds to enable it to move forward with the planning of the next stage of the programme.
However, Future field development will depend upon the group's ability to secure financing, whether this is by joint venture projects, farm down arrangements or public financing, it added.
Xcite Energy said preparation for Full Field Development Plan and early production system continues and will be announced in conjunction with the updated report in the second-half of 2008.
tfn.newsdesk@thomson.com
pvi/slm
COPYRIGHT
Copyright Thomson Financial News Limited 2008. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
LONDON (Thomson Financial) - Xcite Energy Ltd. said its second-quarter pretax loss widened aft
er being hit by administrative expenses, but its programme to effectively and efficiently commercialise the Bentley Field remains on track.
For three months to June 30, the heavy oil company posted a pretax loss of 249,801 pounds compared with 95 pounds the year earlier and its administrative expenses for the period rose to 530,552 pounds from 213 pounds.
The company said its cash balance at end-June, was 4.83 million pounds and in line with budget, adding that it has sufficient funds to enable it to move forward with the planning of the next stage of the programme.
However, Future field development will depend upon the group's ability to secure financing, whether this is by joint venture projects, farm down arrangements or public financing, it added.
Xcite Energy said preparation for Full Field Development Plan and early production system continues and will be announced in conjunction with the updated report in the second-half of 2008.
tfn.newsdesk@thomson.com
pvi/slm
COPYRIGHT
Copyright Thomson Financial News Limited 2008. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
1
Xcite Energy Q2 loss widens; Bentley Field programme remains on track
LONDON (Thomson Financial) - Xcite Energy Ltd. said its second-quarter pretax loss widened after being hit by administrative expenses, but its p[21 Aug '08]
Xcite Energy swings to pretax profit for the 3-months to March 31
LONDON (Thomson Financial) - Xcite Energy Ltd. swung to a first-quarter pretax profit of 22,244 pounds for the three months ended March 31, 2008[22 May '08]
Xcite Energy says trades well data with StatoilHydro
LONDON (Thomson Financial) - Appraisal and development company Xcite Energy Ltd said it has agreed to trade key well data with Statoil (UK) Ltd,[21 May '08]
Xcite Energy sees commercially viable production at Bentley following review
LONDON (Thomson Financial) - Xcite Energy Ltd. said it believes that commercially viable production rates are achievable at its Bentley oil fiel[30 Apr '08]
Xcite Energy swings to net loss in 14 months to Dec 31
LONDON (Thomson Financial) - Heavy oil company Xcite Energy Ltd. swung to a net loss of 730,289 pounds in the fourteen months to end-December 20[18 Apr '08]
Xcite Energy says achieves significant step in Bentley field commercialisation
LONDON (Thomson Financial) - Xcite Energy Ltd said it has achieved a significant step forward in the understanding of the Bentley field and its[4 Feb '08]
Xcite Energy appoints CFO Rupert Cole to board
LONDON (Thomson Financial) - Xcite Energy Ltd said it has appointed its chief financial officer Rupert Cole to its board of directors. Cole is a[21 Jan '08]
Xcite Energy says 9/3b-5 appraisal well testing on target for end-Jan completion
LONDON (Thomson Financial) - Xcite Energy Ltd said the 9/3b-5 appraisal well on the Bentley field has reached its target depth on schedule and t[11 Jan '08]
1
