Now now, play nice. Hardly blatant ramping, I was simply commenting on the trading patterns which indicates that there is substance and volume to this rise rather than it being a simple pump on hot air. Anyway, each to their own.
RE: Order book
The logic is outstanding. I see the blatant derampers have passed the baton to the blatant rampers. Excellent. When you types disappear we will all know that is the time to change position. Lotus or shoulderstand anyone? What a hoot. Sunshine a-burnin', factor 50 a-callin'. ATB
1A was a desperate expensive EWT alternative to what was intended, ------------------------------------------------------------------------- A desperate expensive EWT was it?. Neither you or I know the reason why ESP was changed and an EWT (1A work programme) in 2012 to be followed by 1B ("real production") which was due to commence this year to be followed by Phase 2 later on in time was put in place instead. What we do know for a fact though is: No EWT No RBL! Statoil due to our EWT paid $15 million for some data (which did not compromise our IP) and shelved their original plans and have now formed a collaboration with us. (do you think that would have happened had we not have run an EWT?, especially when Statoil admitted they viewed Bentley as "second rate" prior to the EWT) Shareholders have because of this EWT had their investment de-risked, you see when it goes wrong it can go royally wrong even with 2P oil that only has a 50% chance of production (see AEY which had 2P oil downgraded to 2C oil ) . This EWT presented us with 198 million barrels of 1P oil (90% chance pf production) and has put us in a different league. Whilst we all would have liked production as per previous plans and timescales we have to trust that the BOD have chosen/ was forced this route for a reason and the Statoil/ Shell collaboration which showed we have "above average production" looks like our BOD may have been very right to de-risk our asset and show Statoil and Shell exactly what we can do even if "forced" You may be a very pessimistic sort, but I see that this EWT has protected my long term investment by de-risking the asset and whatever happens the Bentley Field will produce at least 198 million barrels of 1P oil...........all because of that "desperate" EWT! You need to stop looking over your shoulder all the time imo, and see that this BOD has weaved us through the worst financial crisis since the 30's whilst proving we have the expertise to do with Bentley (and other Heavy Oil Fields, it will not stop at Bentley imo) what others have failed to do and not only that have the likes of Statoil/Shell sitting up and taking note of what we can do! Personally I don't think we will get to production anyway, get FDP approval and flog it imo...........then find another Heavy Oil Field and rinse and repeat, but without cash constraints this time around!
starting to shift again for buying. Very interesting, clearly there is something tangible going on to underpin this rise as 1. There has been no dump and 2. There are still lots of A trade buys going through. I will shut up now, but looks positive for another move in due course.
has been some good churn this morning at higher sp levels. Holding up nicely. A little patience here should pay off if TradersFocus is right, which he usually is.
""In the UK sector of the North Sea, Schlumberger Completions technologies were deployed for Xcite Energy in a unique intelligent multizone completion in the Bentley field. The IntelliZone* family of zonal management systems was combined with the SFIV* surface-controlled formation isolation valve system, allowing flow control of two horizontal wellbores during an extended well test. In addition, WellWatcher real-time reservoir and production monitoring technology and DTS were deployed to monitor the production parameters, while an electric submersible pump with a variable speed drive provided the lift required to produce the well. A GROUNDBREAKING 14 control lines were installed in the well to deliver an integrated multiple zone management system, which allowed efficient production testing and data acquisition of the two wellbores without costly well intervention."" http://investorcenter.slb.com/phoenix.zhtml?c=97513&p=irol-resultsNewsArticle&ID=1808588&highlight= Great find. This is what they thought about it at the time. I'm convinced it was this sort of control data which Stat paid $15m for. Through this control system Xel would seem to be able to make a single pipeline multi-functional which would dramatically reduce Bressay's cost. Just my take on it. Always open to enlightenment by xperts in the field....
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