Xcite Energy Share News (XEL)

Tuesday broker round-up UPDATE

Advanced Medical Solutions: Panmure Gordon downgrades from buy to hold with a target price of 102p. Antofagasta: Canaccord Genuity cuts target price from 1110p to 1035p, while staying with its buy recommendation. ASOS: Panmure Gordon increases target price from 5950p to 6126p, while downgrading fr

AIM IN BRIEF: Mattioli Woods Half-Year Revenue Up 20%; Eyes Acquisitions

Xcite Energy slumps as talks with farm-out partners continue

North Sea-focused oil appraisal and development firm Xcite Energy disappointed investors on Friday after saying that talks with potential farm-out partners and lenders are still ongoing regarding its flagship project, the Bentley oil field. The AIM-listed group has current interests in six blocks i

Thursday tips round-up: RBS, Severn Trent, Xcite Energy

Shareholders in Royal Bank of Scotland (RBS) face even more uncertainty now that Mr.Hester is abandoning the top job at RBS. Yes, the lender will probably manage to turn a profit this year of 2bn pounds, versus net losses of 24bn pounds during the year he started. However, his successor will need to

Xcite Energy's subsidiary cancels Rowan rig option

AIM-listed heavy oil appraisal and development company Xcite Energy has reported that its subsidiaryXcite Energy Resources (XER) has cancelled its option for a jack-up drilling unit from British American Offshore, a subsidiary of Rowan Companies. The rig contract was initially entered into in Febr

Xcite Energy widens first quarter losses

Xcite Energy widened its first quarter losses as the oil company was hit by a stronger US dollar against the pound. Net loss in the first three months of the year came to £1.7m, up from a loss of £0.05m the previous year. The company had £20.4m cash at the end of the period, of which £12.3m was he

Friday broker round-up UPDATE

Aggreko: Panmure Gordon raises target price fro, 1727p to 2106p and upgrades from hold to buy. Alternative Networks: Westhouse Securities moves target price from 280p to 295p and reiterates a neutral rating. Investec raises target price from 330p to 350p maintaining a buy recommendation. Finncap in

Xcite Energy sees increase in oil reserves at Bentley field

Xcite Energy on Monday announced an increase in oil reserves at its Bentley field in the North Sea. The company reported an average petroleum initially in place (PIIP) of 909m stock tank barrels (MMstb), up from 550 MMstb in February. Xcite forecasts a peak production rate of 45,000 stock tank bar

Xcite Energy achieves first annual revenue

Xcite Energy's Chief Executive Officer Rupert Cole said 2012 was an 'excellent year' for the oil and gas company following the completion of a 250m-dollar project in the UK's North Sea. The group achieved its first annual revenue after the conclusion of the of pre-production extended well test on t

Xcite Energy extends maturity date of loan notes

Xcite Energy, an AIM-listed North Sea oil and gas group, has extended the maturity date of its unsecured 14 per cent loan notes. The term has been extended for a period of 275 days to December 31st 2013, which may be extended for an additional 90 days to March 31st 2014, subject to the approval of

Wednesday broker round-up - UPDATE

Alternative Networks: Investec increases target price from 310p to 330p retaining a buy rating. Anglo American: Deutsche Bank takes price target from 2200p to 2260p, while its buy recommendation remains unchanged. Antofagasta: Bank of America reduces target price from 1500p to 1400p and downgrades

Xcite Energy adds nearly one million new shares to issued capital

Xcite Energy, an AIM-listed North Sea oil and gas group, said Friday that it has applied for the admission of 931,000 new ordinary shares to AIM following the exercise of share options by a former employee of Xcite Energy Resources. The shares are without par value and will shall rank pari passu w

Thursday broker round-up UPDATE

African Barrick Gold: Westhouse Securities reduces target price from 335p to 305p, while its sell recommendation is unchanged. Anglo American: Exane cuts target price from 2000p to 1650p and downgrades from neutral to underperform. Antofagasta: Exane ups target price from 1400p to 1500p keeping an

Thursday broker round-up UPDATE

Afren: Morgan Stanley takes target price from 215p to 220p and reiterates an overweight rating. Alent: Bank of America starts with a target price of 370p and a buy recommendation. Associated British Foods: Goldman Sachs moves its target price from 1160p to 1190p and maintains a sell rating. AVEVA

Xcite Energy pleased with Bentley results - UPDATE

Xcite Energy said it had safely and successfully concluded the first phase of its offshore programme on wells in the North Sea Bentley Field. The company said following Phase 1A of the drilling programme its 9/3b-7 and 7Z wells had been suspended for future use as production wells during Phase 1B.