Most people bang on about our huge oil reserves (quite rightly), but our IP is the game changer and sets us apart from other oil juniors in my opinion. The parking of Bressay because of our data and the reference in the interview with Tom Dreyer about the EWT data and its "above average production" results clearly shows they are taking this very seriously (oh, and the collaboration another endorsement of course!)..........
" Since its foundation Xcite Energy Limited has strived to become one of the leading heavy oil experts in the North Sea and thanks to the work it has already carried out and the successful flow test that was completed at the end of 2010 it is safe to say it has been really successful in becoming just that,” Barny concludes.
“The IP we have developed here is a repeatable methodology, and as such we are already looking at potential opportunities in the future to create value. We are looking to develop Xcite into a partner of choice in terms of heavy oils and progressing projects through their challenging implementation phases.”
Personally I don't think it takes Einstein to see that we have a lot more than 257 million barrels of 2P oil, we have the ability to help other challenging heavy oil fields. What was that Tom Dreyer said again about its future in the North Sea:
" Statoil is ambitious to expand again. We would like to triple the amount of licenses we hold- from 9 currently. Statoil is taking the heavy oil strategy seriously."
"Statoil is also not seeking to operate entirely on its own in the UKCS, but would welcome equity partners to work with the business. These could be large or small companies- the preference is only on the utility of what they might offer us."
A small company with something to offer them?
I know just the firm!
Perhaps a % share in Statoil's new Heavy Oil licences in the 28th Round (subject to award) might tempt us to do a deal with Bentley...
SK played down the IP within Xcite at the AGM, referring to the way knowledge in the industry is distributed among the supply chain. The recent Interview with Stat VP Dreyer referring to "small independent companies run by brilliant minds" might hint at a different story.
Seems like the brilliant minds have tickled the big fish almost into position.
I was looking at the five year graph for XEL's share price, as one does when bored. I then had a look at BLVN's. The graphs are almost the same. Anyone have any thoughts on this? They look like they are joined at the hip???
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