Last sound a clock makes before it breaks - tick The facial spasms I now get caused by owning XEL shares - tick Small bloodsucking arachnids of the order Ixodida that are parasitic on terrestrial vertebrates - tick Opposite of x - tick How long it wont take to get my money back - tick Tropical hardwood in a South African accent - ..... maybe that is pushing it too far :)
In my simple opinion the bond people have got option of cutting their losses and taking large hit - or providing additional cash for 12 or 24 months in the expectation that matters will improve. Alternatively another company refinance . If the existing one extend their loans or a new one comes along this would be massively encouraging because their decision will be made with possession of facts .
The other alternative is that the majors are sitting back now waiting to scoop up the pieces at knocdown price - would not be economical for them to develop but the field would be theirs for if and when POO rises
The thing that is not clear to me, is why the company gave Statoil the ability to cut their costs by £3 billion in exchange only for £15 million . I suspect unless the BOD were very generous there is more to that agreement than meets the eye .Possibly the £15 m was for sufficient info to show that it could be done - but with Xcite retaining the key information to actually do it - where one would hope a second and some what larger payment would be due .
I have to confess I now only have a small holding in a SIP with non SIP shares sold - but I would very much like to buy back again but am not confident enough yet.
If their is the potential of a large payment to come from Statoil this think could be exciting and is not factored into the current price.
LEGENDS, you can never provide proof of any of your statements can you? Plus, why believe anyone who can't admit he's MikePage19, even when confronted with irrefutable evidence?
Evidence a plenty on the inability to interest majors. That's why we're still without funding and finance almost 4 years on from when the company commenced the farm out process. Thats why the company chose to go down the contractor route and setup the Bentley alliance.
Normally deals progressing to commercial discussions warrant an RNS. Why does Xcite feel that's not necessary?
"We will be putting it on the market for a farm-in around November to invite other companies to join us on the journey. We hope that could be agreed and completed by the end of 2013." - Stephen Kew September 2012.
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