This is sitting on the 96p support line for a reason. No one is certain what the AGM will bring and is hesitant to buy in or sell. I think it will be repeat of last year when it took a dive after the AGM. I doubt if any new info will be released and legally they can't say anything price sensitive anyway unless they release an RNS in the morning.
The worst thing that can happen is if a timeframe is given for a financing deal which is near the end of the year.
Exactly scottpaer, it's worth a lot to xcite when they suck the oil out of the ground, they won't 'get anything out of it' until they start pumping the oil. Then it will show its true worth . Unless of course some big oil company comes along and says sod the IP value sod everything just give me the dam 250 million barells for $8 a barell ( which would be worth around $2bn dollars or $6 a share, and is by the way quite low for North Sea oil even if it is heavy oil.
It has been demonstrated that the application of wave energy to fluids will result in a retention of such energy for a period of time to increase the mobility of the fluid. For example, a tomato ketchup bottle, when left standing for a period will not pour. Apply energy by shaking and the effective viscosity of the fluid will reduce and therefore make the sauce mobile. The same concept may be used in oilfields through the application of vibration or wave energy applied at the correct frequency. In tests this has been demonstrated to improve recovery factors by up to 30%. This concept can also be called exciting the fluid, and this was the inspiration for the Xcite Energy name. The Bentley field was named after the British engineer, Walter Owen Bentley (1888-1971). Other Xcite Energy oil field leads and prospects also follow the British engineering theme, hence our references to Brunel, Bunsen and Bessemer.
From their website. So is the technology still valid? Is that how we have got the oil to Flow? Answers are needed to these valid questions
What is that worth because it would seem that it has little or no value given the lack of any takeover of this company. If it was worth so much not to do a CPR after the 2010 flow test now we have done the EWT what is that worth. Last time I checked XEL said they had put $100 million into it. So what value has XEL manages to get for it? Valid question which should be an easy answer
Fascinating to see how people are wondering of they can pin down the BOD at the AGM to answer questions how we will raise $700 million and why we did away with phase 1b which would have generated income and we now won't be able to raise the $700 million and go busy. This is your right to have those answers your money is allowing RC to travel to Paris and to feed his kids!! This isn't the MI5 this is a public listed company that needs to tell its shareholders how its going to maximise the return on 250mmbls of 2P oil. It needs to be said in plain English. What has Andrew Fairclough been doing since August last year for instance?
Whoever goes there needs to get the answers and stop this BOD pretending they haven't been economical with the truth these past 2 years. They were quick to say their actions had increased the share price 800% and 700% at the 2011 oilbarrel and were quick to say how it was going to double and triple from the £3 days. They now need to tell shareholders why they didn't and how they are going to retrieve and resuscitate the SP as yes I am afraid their actions and words do this not PI's!!!
thanks , I know there are a lot of genuine posters on here and throughout the last 2 years or so I j=have been reading the posts have seen many new members join in ( usually with a ramping or deramping stance with no facts to back it up ) and was worried i might be taken as one of either opposing crew, lol!
I do believe xcite have an amazing asset, short term perhaps not sure as the market is pants, long term if it doesn't pay off I 'll never invest in shares again! So frustrating it has literally taken over my life, I have invested a lot in here and watched the share price freefall. I sometimes wander if we are all missing something !
i recon now we are sitting at 3p quite comfortable , not a lot going on , just calm few trades each day , next fns XCAP close shorts , then slow push to 3.5 and a big hope.......................BINGO or talks over.
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