Its annoying but nobody thought to bring this up at the AGM just over a month ago. We can be sure the management are focused and probably wouldn't have answered us anyway. Being nice weather most of us not working are in and out and catching parts of news. Yesterday I caught it that Greek Bonds had risen by 48%. I'll repeat that, 48% on Sky. You say to yourself with the benefit of hindsight, 'it seemed obvious, why didn't I buy some.' I bring this up because until then the Bonds were friendless. In a trice they became much more valuable. I think there are lessons for us here. We are NOT an exploration company but this is irrelevant. We are in North Sea heavy oil and the price of oil is low as is demand blah blah....... Nobody likes us and the current price is the result. We are not alone and the sentiment can turn overnight. One of my neighbours is a trader in oil companies for an Investment Bank. About a year ago we went out for a meal with the wives. I got an opportunity to ask him about oil companies and especially Xcite. He said that he was a seller of oil companies at the time and said he knew nothing about Xcite as they only look at companies above (memory poor here either half or a billion and not sure if Dollars or Sterling). I probably don't remember because of my shock that he didn't know about Xcite and he dealt in Oil companies. We aren't popular but neither is the sector or most of our neighbours. Statoil have restrictions too with Institutional shareholders wanting dividends and Govt influence. Not a pretty picture but for now the stock price isn't that important. We are on the shelf gathering dust, along with quite a few others but Xcite is not for sale at a car boot price [it would be higher if it was]
We need a stimulus and I think the Middle East is becoming increasingly volatile which will underpin the strategic importance of Bentley. As an aside my daughter returned from Lebanon this month after best part of a year. She said that they were closing the British Council in Beirut. As I hadn't heard anything I asked her how she knew. She has friends who rely on the BC for income and they were losing their jobs. I asked why and she said that there had been "threats".
Ha Ha very good Hk no I was referring to a post @15:10 some hapless disillusioned soul lamenting where all his "Buddies" have gone...fact is they were just rampers but he cannot see this. Agree with you about this dog though!
"Rig is currently getting built, fact," Yep dreamland is full of such facts, its NOT being built for XEL a rig is being built,as all well know, they would like to think they can use it maybe in 10 years time at the rate they are going.
That 15.1.10 (b) clause he mentions looks in fact with the 2 year Bonds repayment date being 6/16, there seems to be a conflict in timelines, as the Bentley lease extension was until 13/12/16. Bring that forward nine months to end 3/16, then the Bonds could be in default three months before they are due to be repaid. Curious situation. It also means howver XEL have a shortened timeline to either get them paid off or refinanced.
Towards month end! Usual games will ensue, then all the Shorters will disappear til end of next month! Good luck people, you'll need it! As I always say, investors invest! Simple :-) As we get closer to our goal, the noise will get louder, so watch out for that! Seems pretty quiet at the moment though?
So, 265 barrels of oil in reservior is fact, oh and with upside! Rig is currently getting built, fact STATOIL bought our data for $15 million , fact! Collaboration agreement with Statoil signed, fact Finance and FDP coming, fact! I did laugh at your own description of yourself ;being a mushroom? Are you sure that's being kind to mushrooms? Teehhhheee much laughs! :-)
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