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Xcite Energy Share Chat (XEL)



Share Price: 69.00Bid: 67.00Ask: 67.75Change: 2.25 (+3.37%)Riser - Xcite Energy
Spread: 0.75Spread as %: 1.12%Open: 65.75High: 69.00Low: 65.00Yesterday’s Close: 66.75



Share Discussion for Xcite Energy (XEL)


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TakeStock
Posts: 177
Off Topic
Opinion:No Opinion
Price:63.50
View Thread (5)
RE: Statoil coming in
18 Jun '14
Chappi, what's your view on Bressay FID stated as 2016 on Statoil website? Any chance they would want to do Bentley first as part of a JV?
 
highlandsbull
Posts: 980
Observation
Opinion:No Opinion
Price:63.50
View Thread (5)
RE: Loan
18 Jun '14
The RBL I can understand, it's costing money to retain while they have delayed it's use, presume there is a substantially larger one waiting. Shame in the end they'd not kicked off with that one and re-negotiated larger facility based on the improved reserves while they were going along with the old plan 1a/b. The way the ceo was talking at the AGM what with Bank cash, what was left of West Face, Esousa etc., XEL looked to be ok to FDP, they can't spend before that then they could draw on an RBL. Only thing left, if West Face is not being repaid and there's some private agreement around re a jv partner's cash later, could be a well or two into 9/3c and d unless DECC are prepared to extend those leases.
Christoski
Posts: 709
Answer
Opinion:No Opinion
Price:63.50
Chappi
17 Jun '14
Hi how are you doing these days? Bit of a tumble here in the sp but because of the delays. Will all still come good in the long run. I have to say I have my money in BLVN right now as I think that will move first, but hopefully I can get back in here again before it's too late.
I believe the $140 m refinancing was necessary as I I think the existing unsecured loan needed to be repaid by the end of 2014 anyway. I see this simply as a way to pay of f the $80m and leave sufficient funds to cover the next 6-12 months while they finalise FDP. I'm sure a new and much larger RBL will follow in due course, coupled with A Farm Out to fund the new production plan currently being finalised.
All still good in my opinion, though very frustrating for those holding right now.
GL. & best regards.
MajorEvent
Posts: 442
Off Topic
Opinion:No Opinion
Price:63.50
Share price
17 Jun '14
Driven down to squeeze out PI - it's not the first time it has happened here. Large fast bounce coming ???
CHAPPI
Posts: 5,778
Observation
Opinion:No Opinion
Price:63.50
View Thread (5)
RE: Loan
17 Jun '14
I must say it has been somewhat confusing trying to decipher the reason for the $140 million bonds and the $80 million loan (i.e are we paying the $80 million off from the $140 million?, I did email Henry but got an automated rely that he is out of office until the 23rd June).........

But logically why refinance an unsecured loan with a secured loan at this juncture?

Why cancel the RBL we have been servicing?

It's coming together with I am that certain!

Just can't quite work it out as yet though:)
MajorEvent
Posts: 442
Off Topic
Opinion:No Opinion
Price:63.50
View Thread (2)
RE: Chappi
17 Jun '14
And why would a Norwegian company act as bookrunner - could it be statoil or partner of statoil that purchased the bonds? Are we being bank rolled until 2016?
katnick108
Posts: 2,196
Off Topic
Opinion:No Opinion
Price:63.50
View Thread (2)
Chappi
17 Jun '14
Thanks for all your work... here and on iii,s
Always refer back on your posts as you are sooo confident
much obliged.
MajorEvent
Posts: 442
Off Topic
Opinion:No Opinion
Price:63.50
View Thread (5)
RE: Statoil coming in
17 Jun '14
I'm sure they are. And my own thoughts are that XEL must have something concrete to be able to loan $140m.
MajorEvent
Posts: 442
Off Topic
Opinion:No Opinion
Price:63.50
View Thread (5)
RE: Loan
17 Jun '14
None of those reasons to cancel the loan apply - so west face can not call in the load.

They only renewed the loan 6 months ago so why would they? The loan will be extended again, that's what the RNS meant by refinancing - IMO
CHAPPI
Posts: 5,778
Observation
Opinion:No Opinion
Price:63.50
View Thread (5)
RE: Statoil coming in
17 Jun '14
Major, they are in imo.......

They can't afford not to be!

An excellent source told me a couple of weeks ago that the SPD vacancy does have some "urgency" attached to it......quite what for I don't know, but trust me things ARE happening!



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