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Xcite Energy Share Chat (XEL)



Share Price: 46.25Bid: 46.00Ask: 47.00Change: 0.00 (0.00%)No Movement on Xcite Energy
Spread: 1.00Spread as %: 2.17%Open: 44.50High: 47.75Low: 44.75Yesterday’s Close: 46.25


Share Discussion for Xcite Energy (XEL)


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dazah
Posts: 263
Off Topic
Opinion:No Opinion
Price:41.50
View Thread (5)
RE: hello - new investor here
23 Oct '14
Well fingers crossed 40k shares, just catching up on the gossip.
 
Sellhigh
Posts: 5,747
Off Topic
Opinion:No Opinion
Price:41.50
View Thread (5)
RE: hello - new investor here
23 Oct '14
Hell yeah - great price
dazah
Posts: 263
Off Topic
Opinion:No Opinion
Price:41.50
View Thread (5)
hello - new investor here
23 Oct '14
hopefully I've got in a good price!! have I ?
Sellhigh
Posts: 5,747
Off Topic
Opinion:No Opinion
Price:41.50
A Few Events
23 Oct '14
That in my opinion has left XEL languishing at 40p

1. They thought they could drill one well to prove up 250mmbl of oil and go straight to production. But the DECC and Tracs had other ideas hence the requirement for EWT.

2. The precarious financial markets and XEL lack of revenue meant they have to do some share price damaging deals to raise the $240m

The up side was a very successful EWT which demonstrated beyond doubt that Bentley was commercial

The up grade in reserves should have mitigated the share dilution and restored the share price. But others were now in control of the share price.

3. The failure to secure a farm-out agreement by the end if 2013

4. Several years of AIM decline particularly oil companies,

5. A drop in oil prices have exaggerated the above in the last few weeks

The lack of confidence in all AIM stocks to invest long terms means that money will not flow into XEL on a large scale again until they have some significant news. Which IMO is a fully funded FDP

I like XELs plan to fund the FDP and we should see more of this forming over the next few weeks/months, let's hope the share prices tracks the progress made.
highlandsbull
Posts: 1,262
Observation
Opinion:No Opinion
Price:41.50
View Thread (3)
RE: Technically Speaking
23 Oct '14
Just wondering when XER can submit the FDP. The only contractor MOU outstanding now is the driller/rig, after which they will know in principle the main cost parameters to finalise the funding with the lenders, and the plan to complete the FDP.

If as RC has maintained the funding options are known and it's basically a determination of the quantum, once knowing that would they then proceed with the FDP, perhaps having a codicil with the lenders re funds amendment subject to the Autumn budget news. Or, would they wait that budget speech out and submit mid December. DECC won't be concerned about the detailed profitability aspect, just that funding can be demonstrated.

Whatever, it does not seem like any jv partner will show before the FDP is in, one would think in fairness to their proposed partner they would have showed their face and support by now. Unless discreetly Statoil and the NDA's, it's not happened. So if one does plan to come in after the FDP is approved, then the farm in price should also be materially different, perhaps another plus for XEL to get the FDP in asap, on their own.
Sellhigh
Posts: 5,747
Off Topic
Opinion:No Opinion
Price:41.50
View Thread (3)
RE: Technically Speaking
23 Oct '14
3 years ago today XEL had 28mmbl of P2

they now have 257mmbl of P2 and have produced and sold 150,000 barrels of oil following a $250m EWT

The Decc are Technically satisfied with the FDP

They have sold their data to Statoil for $15m who in turn are redesigning their field which shares the same characteristics as Bentley

So of all the criticisms you could give XEL technical ability and achievements in the last 3 years is not one of them.
slipperyslope
Posts: 1,980
Off Topic
Opinion:No Opinion
Price:41.50
stuff it
23 Oct '14
Captain Plunge. You are not alone as I went and did the same. Trouble is everything I seem to touch follows my user name. Your name looks a bit like mine as well but only more severe.
Jayar
Posts: 83
Off Topic
Opinion:Strong Buy
Price:40.50
Trading
23 Oct '14
Well I've been thinking this share is so rediculous at these prices, I recently sold my BLVN shares in order to get my average down to 78.6 pence. If only I'd waited until today!! Oh well I made my bed and quite happy to hold. No point in "lane changing". It's the long term for me. Tim tee tum
highlandsbull
Posts: 1,262
Observation
Opinion:No Opinion
Price:40.25
BH..
23 Oct '14
Further to a tomthebomb post on II re Aker Solutions, that company has now split so not quite sure which one is carrying on the Mariner/Bressay connection for drilling/topside equipment package. However Baker Hughes also has a subsea production alliance with Aker Solutions. So wheels within wheels, though the drilling package clearly will be different for Bentley, as Statoil for Bressay still seem to be persisting with drilling off a large fixed platform similar to Mariner, not the j/u rig/ACE planned methodology of XEL.

http://www.akersolutions.com/en/Global-menu/Media/Press-Releases/All/2014/Aker-Solutions-and-Baker-Hughes-Receive-Regulatory-Approvals-for-Subsea-Production-Alliance/
ugiebear
Posts: 1,454
Observation
Opinion:No Opinion
Price:40.25
re: Technically Speaking
23 Oct '14
err...I think you will find they had an outstanding drilling campaign (and extended well test), which succeeded in recovering and flowing some of the heaviest crude in the world.

That was concluded way back in September 2012 right enough, but apparently it was a technical and engineering triumph.

Well that's according to the other partners involved, who featured the results of the EWT prominently in their own company publications...



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