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Xcite Energy Share Chat (XEL)



Share Price: 28.50Bid: 28.25Ask: 28.75Change: 0.00 (0.00%)No Movement on Xcite Energy
Spread: 0.50Spread as %: 1.77%Open: 29.75High: 30.50Low: 28.50Yesterday’s Close: 28.50



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highlandsbull
Posts: 2,708
Observation
Opinion:No Opinion
Price:32.75
View Thread (3)
RE: RE:RE: IP
17 Jul '15
ugie, I think you also have to look at the new technologies employed at Bentley by the main contractors, Schlumberger and others. Not to say XEL don't have any brains on their technology staff, but clearly with no specific patents in place at best XEL are on a step out from the existing general knowledge base on the subject of HO recovery.
 
ugiebear
Posts: 1,935
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Opinion:No Opinion
Price:32.75
View Thread (5)
RE: RE: RE: $35 dollars per barrel.
17 Jul '15
ceilingcat - you are starting to remind me of a little of rowman.

The mention of 'innovative methods' appears to have the same effect on you, as 800,000 barrels did on him.

Have a nice evening...
ceilingcat
Posts: 849
Premium Chat Member
Off Topic
Opinion:No Opinion
Price:32.75
View Thread (2)
RE: RE: RE: $35 dollars per barrel...
17 Jul '15
So? Do not confuse specific gravity with viscosity.

We know the oil flows under reservoir conditions, and flowed on each of the Xcite well tests.

Whatever, as I keep saying technology advances, and there is no equipment or process that is was unique or specific to Xcite that got that oil to the surface. Unless you know better?
ugiebear
Posts: 1,935
Observation
Opinion:No Opinion
Price:32.75
View Thread (2)
RE: RE: $35 dollars per barrel...
17 Jul '15
To put things into perspective what XEL achieved by successfully extracting, flowing to a tanker and selling the Bentley crude, here is a list of the world's oil fields and their API's.

http://en.wikipedia.org/wiki/List_of_crude_oil_products

There are 275 in total and only the three listed below, have lower API's than Bentley's 10 - 12 API.

Boscan 10.1, Laguna 10.9, Tia Juana Heavy 11.0 (all Venezuela).

Maybe XEL just got lucky right enough, and don't have any innovative methodology.

Then again, all the available evidence indicates otherwise...
ceilingcat
Posts: 849
Premium Chat Member
Off Topic
Opinion:No Opinion
Price:32.75
View Thread (2)
RE: $35 dollars per barrel...
17 Jul '15
Why is it inherently a surprise that they are able to extract it for $35 a barrel? When the harding oil field came online (which had some of the heaviest UKCS oil at that time), it was noted for having one of the lowest development costs in the North Sea.

It doesn't mean Xcite have got some innovative IP.

Again, if Xcite really had some amazing method of extracting oil that no one else had figured out, they would have been taken out in a new york minute.
ceilingcat
Posts: 849
Premium Chat Member
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Price:32.75
View Thread (3)
RE: RE:RE: IP
17 Jul '15
The simple answers are usually the correct ones.

Xcite have not found a unique and innovative method. They are utilising existing methods coupled with a reservoir that supposedly has amazingly good properties. It is the reservoir conditions that are key to this. Reservoir conditions that Statoil wanted to see data for, and managed to get for a bargain price.

The trouble with all these little bits of innuendo about how great things are is we're so used to none of it actually coming true. As a reminder, here are some quotes from an old article flagged up on the III board today. It was written FOUR years ago.

-----------
As a result, the overall oil field development project will take marginally longer than previously thought to bring on stream.

The revised plan means that Xcite can still achieve first oil next year, as it originally planned, but Phase 1B is planned for 2013 and Phase 2 pencilled in to start in 2016.

Cole says there is a very carefully put together programme that is due to fall into place in the coming weeks, in which the company plans to inform investors in full and in an orderly manner.

Against the backdrop of very difficult economic conditions we have constructed something which we believe will still maximise shareholder value,” he said.

“We are still aiming to achieve what we wanted to achieve with the Bentley field, it is just going to take a little longer.”

“And the value [of the project] has been maintained. From a shareholders perspective we haven’t lost any of the project’s value, and that is important to point out.”

DECC is expected to approve the revised development plan in the coming weeks and after that work will begin.

-------

And you wonder why people are starting to lose trust and get impatient?
ugiebear
Posts: 1,935
Observation
Opinion:No Opinion
Price:32.75
View Thread (2)
$35 dollars per barrel...
17 Jul '15
extraction costs for some of the heaviest known (albeit high quality), crude to be found anywhere on the planet.

How did they do it...?
ugiebear
Posts: 1,935
Observation
Opinion:No Opinion
Price:32.75
View Thread (3)
RE:RE: IP
17 Jul '15
I think the simple answer would be they paid $16m for something that cost XEL $250m, for data that's relevant to their FDP application for Bressay.
-------------------------------------------------------------------------------------------------------------------------
that may be the simple answer, but not necessarily the correct one.

The possibility also exists XEL have indeed found a unique and innovative method for profitably unlocking some of the heaviest crude to be found anywhere on the planet - no?
ashcroft1
Posts: 125
Off Topic
Opinion:No Opinion
Price:32.75
arranging fdp
17 Jul '15
Why does it take years to arrange it. They r sitting there on big fat salaries for 5yrs.how do they generate income ?
Jayar
Posts: 100
Off Topic
Opinion:No Opinion
Price:32.75
Roll up
17 Jul '15
Roll up, three for a pound, come and get em





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