Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Hi Ethan, I hope you are well and are surviving despite the XEL Fiasco. To be honest I am not expecting anything. If we do get anything I doubt it will amount to much. Very Very BAD Story here. I have lost ( for me anyway ) A lot of Money here and I know that you are in deeper. Rupert Cole should be Hung drawn and quartered as far as Ia m concerned. He is a Lying manipulative egotist. If he had at least been honest in what was going on many holders would have bailed out and saved at least something to move on with. Thankfully I have good health (touch wood...) And Iam working hard to move on and forget the whole stinking pile of festering pus that was the BOD of Xcite Energy..............What a Fking Scam and no Government entity not the FCA the OGA etc give a damn.
Tthe Board have a duty to disclose anything that materially affects the SP.
If they have been taking legal advice for over a year re Insolvancy that is a massive difference to what they were listing in RNS messages - I don't think I would have spent £15k on another 50,000 shares last year if I had been advised of this. That their solicitor has admitted this after consultation with Cole suggests that we were misled massively by the Board who have a duty to disclose anything that materially affects the SP. Their is a massive difference between trying to find a partner and discussing insolvency. I would love to ask him that question and I think the Regulators need to based on his lawyers admission. On this evidence the board should be shot for such dishonesty. LJ. Thanks Lisa Jam Exactly what I was thinking.
Thank you rasberry. Very logical post. I would have thought that their is a very large pool of extreemly disgruntled Investors in xel that put together are looking at losing millions of pounds here. The thing that really gets me are the way that we were told only to listen to company news etc and I tried phoning Xcite as many other pi`s have only to be told that someone will get back to me. Now it seems that there was very definitely news that should have been relayed to ourselves regarding the state of affairs so that we could have made our investment decisions in relation to buying holding or selling. Especially in the last year or two....
The short answer to that is NO! Another BIG question that needs answering.
Someone on iii is suggesting that one or both of these RNS Is the key to what has been going on. Any one out there with more knowledge of the company like to have a look? Tue, 15th Nov 2011 09:49 RNS Number : 1092S Xcite Energy Limited 15 November 2011 ? NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION TSX-V, LSE-AIM: XEL 15 November 2011 Xcite Energy Limited ("Xcite Energy" or the "Company") Additional Listing and Total Voting Rights Further to the announcement in relation to the draw down on the Standby Equity Distribution Agreement issued on 11 November 2011, the Company announces that it has received conditional approval of the share issue by the TSX Venture Exchange and it has therefore made an application for the admission to AIM ("Admission") of 2,168,257 ordinary shares of no par value in the capital of the Company (the "New Ordinary Shares"). The New Ordinary Shares shall rank pari passu with the Company's existing issued ordinary shares of no par value ("Ordinary Shares") and dealings are expected to commence on 18 November 2011. Following Admission, the Company's enlarged issued share capital will comprise 188,996,011 Ordinary Shares with one voting right per share. There are no shares held in treasury. The total number of voting rights in the Company is therefore 188,996,011. This figure of 188,996,011 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules.
15 November 2011 Xcite Energy Limited ("Xcite Energy" or the "Company") Corporate Update and Results for the 3 months ended 30 September 2011 Xcite Energy is pleased to provide a corporate update and its results for the three months ended 30 September 2011. The third quarter of 2011 and subsequent period has seen continued progress in the Company's technical and operational plans for the First Phase Development ("FPD") of the Bentley field. The Rowan Norway jack-up rig has arrived in Dundee and is currently undergoing final equipment testing, crew training and regulatory certification for operations, before it can be handed over to the Company and equipped for its deployment onto the Bentley field. The Company continues its good progress with the approval process by the Department of Energy and Climate Change ("DECC") of a Field Development Plan for the Bentley field, to be consistent with the rig deployment timing. A final Environmental Statement for the planned FPD on the Bentley field has now been submitted in line with usual practice. Financing discussions continue to progress satisfactorily and the Company's objective is to conclude these in a consistent timeframe with approval by DECC of a Field Development Plan for the Bentley field and the rig deployment.
How will we know about what goes on next?
I cannot believe they can do this and get away with it. Absoloute ****s
In fighting. Jesus its fking hard work on here sometimes. Is there a chance that we might see some good at the end of this nightmare? Whilst you lot have been squabling the share price is slowly rising. If the bondholders want to see a decent return and not administration then maybe they will listen to the shareholders letter which carries a significant amount of shares in the NO camp. Please stop bickering. Lets focus on what happens next,
Hi Monkeylegjohn. Welcome to the bb. Here is the email address to add your name and shares for the letter to the bondholders. The letter has already been sent but your No vote and your 40,000 shares are very useful. I will try and post the petition details later. What is your average price? email is: michael-e@orange.net Please send: nickname - name - no of shares owned
pe out Share this: Click to email this to a friend (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on Google+ (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on Reddit (Opens in new window) Xcite Energy Written by Erikka Askeland - 21/10/2016 7:48 am Almost 400 shareholders in Xcite Energy have signed a petition rejecting a bondholder bail out deal that will see their stakes in the North Sea firm almost wiped out. The oil and gas explorer’s lenders last month unanimously agreed a restructuring deal that would see them exchange Xcite’s $135million (£110million) debt pile for 98.5% of the company’s share capital. The online petition had last night attracted 381 signatures of people claiming to be Xcite shareholders just days since it was launched. The petition’s organisers aim to reach 1,000 people who are angry about seeing their shares reduced to just 1.5% of their value. Last night the company’s shares closed over 10% higher to 1.66p. Last month Xcite pledged to call an extraordinary general meeting (EGM) for shareholders to vote on the proposals, but it warned that if they didn’t support the deal the lenders “intend to pursue enforcement action against” Xcite. Investors claimed that Xcite had altered the company’s articles of association to allow them to call an extraordinary general meeting without notice so that they could vote the deal through without shareholders present. In a recent announcement to the stock exchange the firm admitted it had made an “administrative error” and that it had now filed the correct set of articles. Xcite, which is headquartered in Surrey, but has its operations base in Aberdeen, has been struggling to hammer out a deal to support its flagship Bentley project in the UK North Sea. The company has been in negotiations with its lenders since December. It is unlikely the British Virgin Island-registered company would have survived without agreeing a deal with the owners of its debt. The company was unavailable for comment.
Share Views - Ferrum Crescent Exec-Chairman Justin Tooth talks on his re-structuring strategy and exciting new projects Why don`t they ask Rupert on the show to talk about Xcite`s restructuring strategy and any `exiting` new projects....lol
Why are you suggesting to people a strong sell? Why are you here?
Cyan,why are you here?
Oil rises as market could be closer to balance than expected Commodities1 hour ago (Oct 18, 2016 03:02AM ET) 1 © Reuters. Crude oil storage tanks are seen from above at the Cushing oil hub in Cushing © Reuters. Crude oil storage tanks are seen from above at the Cushing oil hub in Cushing By Henning Gloystein SINGAPORE (Reuters) - Oil prices rose early on Tuesday as some analysts said markets might not be quite as oversupplied as suggested by many, with global inventories rising less than expected ahead of the high-demand winter heating season in the northern hemisphere. A drop in the dollar away from seven-month highs the previous day (DXY) also supported crude, as a lower greenback makes fuel purchases cheaper for countries using other currencies domestically. Brent crude (LCOc1) was at $51.91 per barrel at 0655 GMT, up 39 cents, or 0.76 percent from the previous close. U.S. West Texas Intermediate (WTI) crude (CLc1) was up 40 cents, or 0.8 percent, at $50.34 a barrel. Traders said prices were receiving support from the notion that oil markets, which have been dogged by oversupply for two years, may be closer to balance than previously anticipated.
IF We assume that 1.5% is already factored in to todays price what would another 3.5% do to the sp? Just a hypothetical question at this stage of course.
08:40 Hold Debt/Equity swap Vitautas iii Since many years I observe the bond market, also I always look for bonds that do a debt/equity swap. This is always a fight bondholders versus equity holders. Are the equity holders too greedy, the bondholders send the Company into administration (example: Escada a few years ago) and vice versa. Many times the swap works and the company can be saved. Normally, the equity holders keep around 5% of the company (examples: Singulus and Abengoa). So as a bondtrader with many years of experience I can say: Fight for 5%! Sorry for my bad english.
WTF Is going on here....... Useless bod I do hope you get what`s coming to you Cole. You are a liar a coward and have no morals whatsoever. Only listen to company news.....What news Rupert?