Register
Login:
Share:
Email Facebook Twitter

XEL Share Chat - RSS Feed

Xcite Energy Share Chat (XEL)



Share Price: 67.75Bid: 67.75Ask: 68.50Change: 0.00 (0.00%)No Movement on Xcite Energy
Spread: 0.75Spread as %: 1.11%Open: 63.75High: 69.50Low: 62.25Yesterday’s Close: 67.75



Share Discussion for Xcite Energy (XEL)


Thread ViewThread View
Please Login or Register to post messages
Posts per page:


Yanchep
Posts: 676
Off Topic
Opinion:No Opinion
Price:66.75
View Thread (8)
RE: sellhigh
16 Jun '14
Even after they repay $90m (if that's what they are doing) they still have over $70m in cash with what they hold already.
 
sence2
Posts: 4,405
Observation
Opinion:No Opinion
Price:66.75
?
16 Jun '14
The interest rate of the refinancing money is 16% plus after all the wriggles have been taken into account.Seems expensive,compared to the existing rate? They have indicated its for refinancing,is it?,the existing rates are cheaper by far?
ugiebear
Posts: 1,287
Observation
Opinion:No Opinion
Price:66.75
someone's confident...
16 Jun '14
'In addition, a subscriber in the Bond Issue has subscribed for an additional 4,302,546 Shares (the “Placed Shares”) at a price of 68.5 pence per share for gross proceeds of US$ 5 million'.
nhawan
Posts: 356
Off Topic
Opinion:No Opinion
Price:66.75
View Thread (3)
RE: Financing
16 Jun '14
It may end well eventually but doesn't excuse the fact that the BoD has been complicit in the painful decline of the sp in the first half of the year which appears to have culminated in the placing/loan at a rock bottom price for some shady parties.

The pi's have been the ones suffering while some shady loan sharks get bargain priced shares. So far every placing done by RC has been sub 100p and I bet the new share options will be too.
Sellhigh
Posts: 5,564
Observation
Opinion:No Opinion
Price:66.75
View Thread (3)
Financing
16 Jun '14
Before the year is out (hopefully)

XEL plan to have the real funding in place which will be “asset financing, reserves based lending and additional development partners." All of which were discussed at the agm

Today’s news is positive in the fact that another company has looked at xel and agreed to lend them a massive $140m and expects to get their money back within two years

It wasn’t so long ago that the only financing xel could get was from equity lines for small amounts and continued dilution
nhawan
Posts: 356
Off Topic
Opinion:No Opinion
Price:66.75
View Thread (8)
RE: sellhigh
16 Jun '14
Refinance means they must have 'repayed' the $80m + interest+ costs they borrowed to the previous lender by borrowing/placing new shares with a new lender. I didn't mean they have payed off the $80m loan in the conventional sense.

Who knows how much of the previous loan they have left. I somehow doubt they had much more than about $15m remaining judging by the annual results statement where they stated they had about $22m net cash .
Sellhigh
Posts: 5,564
Off Topic
Opinion:No Opinion
Price:66.75
View Thread (8)
RE: sellhigh
16 Jun '14
You could be correct but the RNS says:
“The net proceeds from the bond issue (the "Bond Issue") and the private placement of Shares (the "Share Issue") will be used to refinance the US$ 80 million, 12.5% unsecured loan notes, due 25 December 2014 plus accrued interest and related obligations, to service interest payments under the Bonds, to fund the Bentley field development work programme through this year, prior to submission of the field development plan, and for general corporate purposes”

Key words
Refinance the loan not repay
fund work programme through (this year), prior to submission of the field development plan
nhawan
Posts: 356
Off Topic
Opinion:No Opinion
Price:66.75
View Thread (8)
RE: sellhigh
16 Jun '14
They borrowed $140m to pay off the existing $80m loan + interest which may be about $10m on top of that.
They will be left with about $50m or less for on going running costs. This is not $140m all to spend on pre-production as many are thinking.

They only re-negotiated the loan at the start of this year so another refinancing of the loan means only one thing..The very real possibility that the FDP won't be ready by this year end...poor show yet again.
MajorEvent
Posts: 441
Off Topic
Opinion:No Opinion
Price:66.75
Why sell now
16 Jun '14
At the lowest point as we approach the final straight.
MajorEvent
Posts: 441
Off Topic
Opinion:No Opinion
Price:66.75
Price held
16 Jun '14
At this price for a while - once the shares have hit the market it will be allowed to rise again back over 100p. Especially with the news we are expecting.



Share Trading BrochureRequest your Free brochures on share dealing, spread betting and CFDs

Sign up for Live Prices
Home  |  Contact Us  |  About Us  |  Careers  |  Advertise with Us  |  Sitemap  |  Terms & Conditions  |  Cookies  |  Privacy


Datafeed and UK data supplied by NBTrader and Digital Look. While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.