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Xcite Energy Share Chat (XEL)



Share Price: 60.50Bid: 60.50Ask: 61.00Change: 0.50 (+0.83%)Riser - Xcite Energy
Spread: 0.50Spread as %: 0.83%Open: 60.00High: 61.25Low: 59.50Yesterday’s Close: 60.00


Share Discussion for Xcite Energy (XEL)


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Blue-Eyes
Posts: 4,670
Off Topic
Opinion:No Opinion
Price:66.00
View Thread (2)
CHAPPI
25 Jul '14
What I am saying is that I don't believe that the EWT was purely carried out for the lending consortium
 
Rivendell666
Posts: 3,735
Observation
Opinion:Strong Buy
Price:66.00
No lack of money for Breitburn
25 Jul '14
Gregory J. Moroney is a Non-Executive Director of Xcite Energy Ltd ("XEL") and chairs the Remuneration and Nominating Committee. .......... Greg is also a director of BreitBurn Energy Partners L.P.,
www.xcite-energy.com/about-xel/board-of-directors/gregory-j-moroney

Los Angeles-based limited partnership Breitburn Energy Partners has agreed to acquire Houston’s QR Energy LP in a stock-for-stock deal worth around $3 billion including debt and preferred shares.
""“Breitburn has a proven 26 year track record of making big oil fields bigger.”"

www.bloomberg.com/news/2014-07-24/breitburn-to-buy-qr-for-1-67-billion-largest-oil-mlp.html

Loadsa money for the right projects. Have StatBPShell bagsied us???

QR Energy had 109.1 MMBoe of proved reserves as of December 31, 2013 However they are producing 18.9kboepd. C'mon Mr Baloney make some introductions.......
CHAPPI
Posts: 5,799
Observation
Opinion:No Opinion
Price:66.25
BE
25 Jul '14
So essentially from the RBL side you think that we didn't secure it for ESP? (ie you think both parties had.a hand in it)

Even subject to DECC approval?
Blue-Eyes
Posts: 4,670
Off Topic
Opinion:No Opinion
Price:66.25
CHAPPI/HB
25 Jul '14
We were also in constant contact with DECC and were providing EWT data both during and then within a certain fixed time frame from the conclusion of the EWT - that came from the AGM also.

I think both parties had a hand in it :))
CHAPPI
Posts: 5,799
Observation
Opinion:No Opinion
Price:66.50
View Thread (2)
HB
25 Jul '14
Banks dont initiate this type of thing, its not their expertise!

Are you really sure about that? Didnt we have a bank technical man at our sides during the EWT?

...

Now I am 100% convinced you talk a pile of dung! (i was only 99% previously)
highlandsbull
Posts: 1,101
Observation
Opinion:No Opinion
Price:66.50
View Thread (2)
RE: CHAPPI
25 Jul '14
Quite right re WONS. You note SK says at the 2012 AGM chappi refers me to there were two flow lines placed for use of the storage tanker, in relation to the earlier problems at 6! The hose disruption as we all know on the ON was a serious issue, then and later.
CHAPPI
Posts: 5,799
Off Topic
Opinion:No Opinion
Price:66.50
HB
25 Jul '14
So when did we announce we had secured RBL via RNS pre ESP? (subject to FDP approval)

I notice we happily issued an RNS saying we had secured RBL subject to certain conditions being met in 2012 and you honestly believe if we had the money in place pre ESP the BOD wouldn't have been shouting from the rooftops! T
highlandsbull
Posts: 1,101
Observation
Opinion:No Opinion
Price:66.50
View Thread (2)
RE: HB
25 Jul '14
Then why did they not tell XEL before they submitted the draft FDP. XEL were in discussions with them, if it was an expressed concern of theirs why did XEL not simply submit then to DECC a request for EWT approval. Reason is quite simple, Banks don't initiate these sort of things, they are not technical experts, but they sure will cover their backsides on others who are, and their FDP qualifications, as DECC looked to be insisting on. All this required data could either have come previously from 6, we know why not there, or could have been conducted while XEL were in 1st phase production, except they were never allowed to get to that stage.
Blue-Eyes
Posts: 4,670
Off Topic
Opinion:No Opinion
Price:66.50
View Thread (2)
CHAPPI
25 Jul '14
I also clearly didn't say that the banks might not have had a spanner too

The fact is that some decisions were made for instance RN that clearly indicate the change
The EWT was drilled under WONS

We don't know any of us - it is clearly more palatable to the shareholder for it to be entirely a lending issue since there was never any indication of anything awry with the FT planning other than the fact that the TRACS initial reserves assessment being a surprise. The initial FT was delayed leaving us the wrong side of the year - maybe the export hose wouldn't have broken if the seas hadn't been so rough, maybe they had indications that the tote tank test would suffice, should they have stayed out there and tried to get it done ?

I don't know none of these quandaries was RNS'd but we know they happened that's why I don't find it hard to believe that it's probably not a clear cut banking blame - more of a mixture.

I'm just not sure that it matters to be right - just that it comes out right in the end
highlandsbull
Posts: 1,101
Observation
Opinion:No Opinion
Price:66.25
View Thread (2)
RE: CHAPPI
25 Jul '14
Quite agree. Of course XEL can't talk about it directly, they have both had to deal with those guys for a long time, and continue to have to do for the future, but the way this has gone there is a lot that can be inferred.



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