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Xcite Energy Share Chat (XEL)



Share Price: 42.75Bid: 42.25Ask: 42.75Change: 1.25 (+3.01%)Riser - Xcite Energy
Spread: 0.50Spread as %: 1.18%Open: 43.75High: 44.75Low: 42.50Yesterday’s Close: 41.50


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MajorEvent
Posts: 502
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RE: Major
11 Sep '14
RC will be very reluctant to give dates, so they have gone for a long stop. They have to fill a page.

We know they are targeting year end but we also know dates can slip so the journalist plays safe. Sloppy? I'm not sure more creative writing.
 
timkford
Posts: 279
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Major
11 Sep '14
It is sloppy reporting if they are leading the reader to infer that Cole said .... 2018 and middle of next year
MajorEvent
Posts: 502
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RE: continued
11 Sep '14
Does mean that XEL have a farm-in partner?

We just need some certainty about the Scottish vote then we may get some news.
CHAPPI
Posts: 5,803
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Price:62.75
View Thread (4)
HB
11 Sep '14
No, Statoil suspended, not shelved, Bresay for review as any sane company would do, because XEL's facility and development figures at $3.5bn were near half their projected costs for a similar volume of oil

=========================================

Tell me, why do you think our capex costs are HALF the amount that Statoils Bressay are with a similar amount of recoverable ? Nothing to do with our IP?.............................wake up!!

Please don't be so pedantic, shelved, suspended you know exactly what I mean!
CHAPPI
Posts: 5,803
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Price:62.75
HB
11 Sep '14
Which Heavy Oil Fields are Statoil getting a 60% recovery rate from out of interest?
highlandsbull
Posts: 1,185
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Price:62.75
View Thread (14)
RE: continued
11 Sep '14
No, Statoil suspended, not shelved, Bresay for review as any sane company would do, because XEL's facility and development figures at $3.5bn were near half their projected costs for a similar volume of oil. Of course the run out of the lease prior to extension being agreed also contributed to further delay in them proceeding, without the the cost review why would anyone commit to that sort of expenditure with the lease also in jeopardy. They've had the lease extension approved, the cost review, including Benley's well data analysis, has clearly been of use to persuade them to move ahead.
MajorEvent
Posts: 502
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Price:62.75
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RE: continued
11 Sep '14
We will know about dates when it comes to announcing the rig contract.

RC would not of given a journalist dates, more likely they have taken them from the Edison report.
highlandsbull
Posts: 1,185
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Price:62.75
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RE: continued
11 Sep '14
You got one part of your post quite correct, slowly slowly. At this rate man will be on Mars before Bentley's in production. I have absolutely no wish to buy more XEL stock than I already hold.
CHAPPI
Posts: 5,803
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Price:62.75
View Thread (14)
RE: continued
11 Sep '14
BP/Statoil looking at 60 % plus now, 50% on 27% does not seem to imply much worth for the vaunted SKIP, it looks to become a negative.

====================================

What so Statoil shelved Bressay when they are "looking at 60% plus now" recovery rates?? Why would they do that then?

It's all about the "above average production" that our data showed to Statoil and that's why they shelved their $6.5 billion plans.............(ie above average production = we can get the oil out quicker)
highlandsbull
Posts: 1,185
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Price:62.75
View Thread (14)
RE: continued
11 Sep '14
Well surely as you were promoting 2016 not so long ago as a start date for production, while the BoD four months ago was promoting optionally 2016/17, and castigating me for saying 2017 more realistic with the plan they had in mind, you would be concerned as well if this comment of RC's was factual from the horses mouth that he is now saying 2018?



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