Member Info for cyan2

".but if silly arrogant Cole had not made the bonds from UN-secured to SECURED( I may have mentioned this over the past year) we would not have this out of (our) controlled mess. They would have collapsed then as its clear the secured bonds on terrible terms were necessary to keep the lights on. Most of the cash used to pay off the earlier bonds was a serious warning. Very sorry for those that have lost money here. Utter contempt for the criminal market abusers who ramped this share to facilitate their exit. I hope those false rumours and doctored buy articles are investigated.

Imo there appears to be only one way to profit on XEL shares bought today. It is not through trading, as has been pointed out earlier. At the time of this post the spread was shown at an enormous 32.06%. To possibly make a profit a number of issues have to fall into place. 1. A 'no' vote succeeds 2. The BH do NOT immediately start legal proceedings to recover the security 3. The BH agree to re-negotiate the D4E terms 4. The BH agree to a much reduced number of shares and that normal equity holders will be left with substantially more than 5% of the new share structure. 5. An offer for the company then emerges that is in excess of £120 million. If the above all happens then today's share buyers may make a profit. Without going over old ground; numbers worked earlier showed that an offer of 5% would approximately equate to a post dilution share price in the same ball park as we have had in recent days. Needs to be a significantly higher interest. The obvious risks are that insufficient vote 'no' and that , even if 'no' won; the BH''s refuse to talk and take immediate enforcement action. Its pretty high risk. Anyone got an idea what percentage of equity is committed to 'no' so far?

Interesting comparison; Today GKP has a market valuation of £289 milliion Today some have paid 1.85p per share. After dilution they will need the market to value XEL at least £380 million to just break even.

Results savaged by TW. http://www.share prophets.com/views/24728/tom-winnifrith-bearcast-a-word-or-two-on-the-advfn-results He makes valid points imo... PS. To make a working link close the gap between 'share' and 'prophets'. LSE automatically edits out this company so I had to make a space.

You know there's something not good when you sneak out the results after hours on a Friday. Always reporting losses. I am mystified as to how this is a going concern?

Yes , I was slightly out. Was going from memory. It is not $3.55 Billion; In fact it is $3.535 Billion See April 2016 presentation. Total capex "Total Capex 3,535 " "million USD" ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ Evening Toxic; Thanks! Can I have a gold star please ? lol http://www.xcite-energy.com/investors/presentations-and-documents/spe-presentation-april-2016 See Page 28 Unescalated Costs ($MM) 1P 2P 3P Dev Drill Capex 2,267 2,267 2,267 Facilities Capex 1,268 1,268 1,268 Total Capex 3,535 3,535 3,535 Unit CAPEX $/bbl 15.0 13.2 11.9 Opex 4,279 4,253 4,233 Unit OPEX $/bbl 18.14 15.91 14.20 Decommissioning 309 309 309 Unit ABEX $/bbl 1.31 1.16 1.04 Total Cost 8,123 8,098 8,078 Unit COST $/bbl 34.4 30.3 27.1 ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ Thanks Toxic! Can I have a gold star please? lol

Good afternoon LEGENDS. "Successful delivery of these priorities has the potential to deliver an additional three to four billion barrels of oil equivalent. The timings shown in the opportunity matrix are based on information supplied by the relevant operators and may be subject to change." Yes, lots of potential value, IF you commit the enormous capital and develop. We have to work on what we know the credible big oilers are actually doing. Shell has walked away from BRESSAY. Statoil paused BRESSAY and then at the end of July cancelled the rig. As you previously conceded ; maybe years, maybe never for BRESSAY. Time is not on XEL's side. Its alright the OGA publishing lovely prentations; XEL needs someone who is prepared to spend $3.55 Billion on capex in BENTLEY.

" cyan what do you propose and why come on let's hear from you" In my opinion XEL's future lies within Statoil. If it was not for Statoil cancelling the BRESSAY rig there may have been a case for keeping XEL ticking over until oil recovers further. Would have required re-financing in placings imo. One could have hoped that Statoil would have rest the BRESSAY 'pause' button, and maybe a deal could be done on better value terms than the market currently suggests. The rig cancellation sets thing back by years at least, imo, and as LEGENDS stated, BRESSAY may never go ahead. Time is no longer on XEL's side. BRESSAY & BENTLEY development together made sense , once and possible joint development cost savings were identified. The volume is there but BENTLEY's oil is so heavy (10-12API), even heavier than BRESSAY (11-14 API). Note Mariner is 12.1-14.6API. Shell walked away from BRESSAY and now all the indications are there is little appetite for these expensive heavy oil developments. Imo , it is highly improbable that another large oiler will want BENTLEY any-time soon. For these reasons the managements valuers must have advised Rupert that BENTLEY's value TODAY has very much diminished. If you vote 'no' you are practically guaranteed to lose every penny. The BH will get BENTLEY and recover something. The best resolution is for the whole company (with any tax breaks ) to surrender to Statoil. The terms will be entirely in Statoils hands. The BH's are in a difficult spot. Imo they will have to take a haircut. Current equity holders , with 1.5% in the ring, will likely get a very nominal amount; maybe cash, maybe a handful of Statoil shares; if BH's haven't forced them out. Imo the share price today has only one way to go......down. I note that some have paid 1.8199p per share today. When over 20 billion shares are trading that would suggest a market value for XEL of £370 million post dilution. Not credible imo. Can equity holders force better terms? You must decide that. It can be hard cutting ones losses; I have been there. Had a total failure in a company years ago. Even as the writing was in large letters that we were doomed people bought. I sold out; got 2 hundred quid and someone got paper that was worthless days later. On the face of it, if you sold today; you might recoup enough cash to buy three times as many shares post dilution. As I said before its the buyers and sellers that drive the SP; so logic goes out the window at times. Personally , I would want to move on and forget heavy oil.

Hi overman "it's obvious a no vote we get nothing Cole gets nothing the BH get nothing also my grandchildren get nothing" I am sorry for the very difficult position you are in. I respectfully have to correct your view that a 'no' vote will mean that the BH will get nothing. The BH's secured their monies with a legal security agreement on the BENTLEY asset; on default they can go to court to recover their monies. In effect, BENTLEY will be theirs.

Good afternoon LEGENDS. Carla1 is a serial market abuser. Did you notice how he deleted a load of his recent XEL posts?

" stop posting the obvious" I was asked two questions; I replied.

Good afternoon beanpole Why am I here? I started posting here after I became aware of what I considered criminal market abuse by persons facilitating the dumping of XEL shares. Let reasoned argument and true facts prevail to counter the likes of those false 'buy' recommendations and planted 'jv' next week rumours. "Why are you suggesting to people a strong sell?" After doing my own research , I came to that logical conclusion.. The companies rns regarding the vote which stated it was "unlikely" there would be anything left for ordinary shareholders if 'no' won gave an indication of their company valuation. Any surplus after BH's were settled could have been distributed to ordinary share holders. As we have numbers for what the BH's are owed it suggested that XEL was 'unlikely' to worth more than £120 million. The implication I also take from their rns is that it follows that will be insufficient to fully re-pay the BH's. How much of a haircut for the BH's is the interesting question. Could be marginal; could be large. Its an obvious sell, imo, because after the enormous dilution of shares, current shares will fall to a new low. Today i see someone paid 1.7754p per share. After the dilution ; that sp implies that XEL will be market valued around £360 Million. I think that is a ridiculous number. You may disagree. However, we must return to the companies own valuation implied in their RNS; sub £120million. If they are anywhere near right the post dilution SP ought to be around 0.5p. However , it remains the buy and sell pressure that ultimately drives the SP. So, in my scenario, the current SP may lose another 1.2p in its price. Remember the other critical risk; if ' no' wins the day and the BH's do not want to re-negotiate ; your will almost certainly lose every penny of your investment as they simply take legal action and BENTLEY is lost.

mm = wide boys BP. 0.01% GENL 0.53% RKH 0.91% JOG 2.61% XEL 30.28%

Wow 5 posts a day OMG! It is natural to want ones shares to go up all the time. As you have found with FITB , RRR & XEL the reality can be expensively different. Yes, I did some research into your posting history. If you had properly researched my posting history you will note I did post elsewhere. Research is critical to making sound investments and, perhaps getting out , cutting ones losses before situations deteriorate further. Your posting history appears to be all about be-moaning your enormous losses and asking other posters why they are posting negative things. Rather than criticize the posters; analyse their posts , assess the content and maybe learn something you did not know. Sometimes these critics may have something valid to say that might save you money. I will post as I please and if someone asks a question I will politely reply. I am not counting posts.

"Cyan,why are you here?" "149 post for last 30 days. He/she not a share holder and so much of time here." I like to have reasoned discourses on XEL. Why are you posting? Got any of your own thoughts, research or experience to share.?

I think my song would be " If I were a rich man ......" Might see Rupert busking soon; singing " buddy, can you spare a dime...."

Hi again LEGENDS, Shell have gone right off the boil as regards this heavy oil it seems. The BRESSAY license is up in December so not long to wait. Almost certain they will obtain a renewal. If they were to drop the license , that would be a BIG shock. On ice, or paused; whatever words one uses , BRESSAY is not going to be developed soon, imo The rig cancellation is the most significant recent event of significance in respect of BRESSAY, imo hTTp://www.offshoreenergytoday.com/statoil-drops-bressay-platform-order-at-daewoo/ published 26th July 2016

Good evening Blue-Eyes, What-ever way you look at it ; the equity holders are, imo, going to suffer much more pain. If you recall the Malcy interview where he was asked if BENTLEY had a future; he suggested hesitatingly,yes if it was practically given away to Statoil. I made a wild stab of a guess that the company might generate a £65m offer which equates to about 0.25p per share post dilution. The big reservation I have after Statoils BRESSAY announcements , is that the value may be much less than my guess. Share trades today suggest some buyers prices paid equates to a market value of over £320m , post dilution. Imo, that's completely nuts. I agree, equity is pretty much worthless now.

http://www.offshoreenergytoday.com/statoil-puts-bressay-field-development-on-ice/

Good evening LEGENDS hTTp://www.offshoreenergytoday.com/statoil-drops-bressay-platform-order-at-daewoo/ published 26th July 2016 Reads like they abandoned BRESSAY development to me. Its on ice; could be years before action imo.