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Xcite Energy Share Chat (XEL)



Share Price: 69.00Bid: 67.00Ask: 67.75Change: 0.00 (0.00%)No Movement on Xcite Energy
Spread: 0.75Spread as %: 1.12%Open: 65.75High: 69.00Low: 65.00Yesterday’s Close: 69.00



Share Discussion for Xcite Energy (XEL)


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CHAPPI
Posts: 5,778
Off Topic
Opinion:No Opinion
Price:63.50
View Thread (3)
statoil
18 Jun '14
Will be very interested in our above average production rates..

We have a way of getting HO that is rather unique and Statoil have as good as told us that in the interview/ Bressay put on hold)

That means savings.
 
marthasson
Posts: 3,406
Off Topic
Opinion:No Opinion
Price:63.50
major
18 Jun '14
we can but hope
MajorEvent
Posts: 442
Off Topic
Opinion:No Opinion
Price:63.50
View Thread (5)
RE: Statoil coming in
18 Jun '14
Statoil - it makes perfect sense for them to work on Bentley as partner before they commit to developing Bresssy.
They will know all the benefits and any pitfalls to make an informed decision
TakeStock
Posts: 177
Off Topic
Opinion:No Opinion
Price:63.50
Calling Buddy12 - what's your take?
18 Jun '14
Would be interested to hear your view on latest developments?
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: 981
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?



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