Given the time-consuming nature of meetings -especially where more than one company/consortium are involved, I assume that such meetings are conducted electronically (via the Data Room site) rather than face-to-face. Can anyone confirm?
Is that the $1 million regulatory approval is for XEL's approval by DECC to prove to Statoil that their method of oil extraction is credible in the eyes of the UK government. We have had Enquest approval, Bressay shelved no extra million so far, so it begs the question has DECC approved XEL's FDP which made Statoil cancel their plans?
Out soon but it would appear from the lack of interest from a volume perspective that news will be the other side of Christmas. Oh well just need a bit more patience as so far the BOD have delivered word for word on their promises. Safest bet on AIM I am told
There will be a lot of very unhappy shareholders at those prices for a T/O and the BOD would (hopefully) not be selling us down the river with a negotiated sale. Start the negotiations at £4 and I will think about it if it's a cash & share package.
Bit old news ... Xcite Shares Soar on Statoil Bid Speculation (UK)
Shares of Xcite Energy Ltd today jumped 3.00% on speculation that Norway’s oil giant Statoil is thinking of launching a 2 GBP per share takeover offer, Daily Mail has reported. According to Daily Mail, Statoil is interested in the company’s Bentley field. The company did not immediately reply to an e-mail seeking comment, sent by Offshore Energy Today. Xcite Energy, a UK-based oil and gas exploration company owns a 100% in the still undeveloped Bentley field. The heavy oil reservoir is located 160 kilometres east of the Shetland Islands on the western edge of the Viking Graben, covering an area of approximately 70 square kilometres. The field has been described as one of the largest remaining, undeveloped North Sea oil fields. The company has recently said that it is considering a range of options to provide the balance of the funding required to commence the Phase 1B development at Bentley including, but not limited to, farm-out, other industry participation, convertible debt instruments and equity financing. As part of preparations for discussions with potential industry partners, Xcite has recently appointed Jefferies International Limited and N M Rothschild & Sons to act as advisers to the company in this process. Read more on Bentley development.
After april 2014 when the stamp duty is abolished for aim stocks , i for one will be trading the L out of stocks like xel . At the moment , it is too risky with news so close and the cost of going in out in out does not justify the returns for the risk of missing a £2 plus takeover by statoil or a chinese / korean oil company
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