Member Info for Feverking

Although trying to achieve representation at the Court I am not sure what action they are recommending the Court take. Is there anything a Liquidator can do to protect the interest of all creditors (including ordinary shareholders) if there is evidence of inappropriate action by Company, Directors or management team?

My Facebook search for Xcite or XEL did not find a Facebook group for the company. I did have the choice between several sex clubs or a gym Are you able to provide a link or further instructions :)

This statement published on the XEL website was helpful to me in explaining the relationship between XEL and XER AIM Rule 26 The following information is being provided for the purposes of AIM Rule 26 compliance. This information was last updated 22 August 2016. Business Description The Company, through its wholly owned subsidiary, Xcite Energy Resources plc ("XER"), is an appraisal and development company, which is focused on the appraisal and development of heavy oil resources in the North Sea on the United Kingdom Continental Shelf. The Company is incorporated and domiciled in the British Virgin Islands under the BVI Business Companies Act, 2004 with its registered office in Tortola, BVI, under Company Number 1376877.  As such, the rights of shareholders may be different from the rights of shareholders in a UK incorporated company. The Company is listed on the AIM stock exchange in London. In 2003 XER was awarded its 100% working interest in the Bentley field in Block 9/3b in the UK North Sea. In 2013 XER was awarded its 100% working interests in Blocks 9/4a, 9/8b and 9/9h. All of the Company’s current material assets are held through XER. XER’s corporate office is located at 1 Farnham Road, Guildford, Surrey, GU2 4RG, United Kingdom. XER’s operational office is located at 7 Queen’s Gardens, Aberdeen, AB15 4YD, United Kingdom. The executive management team of the Company includes experienced oil professionals with over 100 years of combined industry experience.

Question to MissAnthrope re your "Payback" thread at 9.29 today. Will you be reporting your concerns to the Serious Fraud Office? https://sforeporting.egressforms.com/

If there were successful legal proceedings against Xcite Energy would the bondholders still be entitled to repayment or would compensation and fines leave be taken away from what might be due to bondholders? Could Directors or the Management Team be individually liable for compensation of fines resulting from inappropriate activities whether caused losses to shareholders or the government?

Helpful post.jonjo Sat 14.39. Might it be possible for us to give a proxy vote towards a proposition to set up a creditors committee? Presumably as shareholders we are at the bottom of the list of creditors but presumably are entitled to be represented. Might we also be able to make individual representations to the Liquidator?

Are other experiencing trouble in logging a grievance with the SFO concerning Xcite Energy? Here's my complaint to them after filling in their report form five times on different days:- "Quite disgusted at the hassle in making a report to SFO - we have not experienced problems with any other government or commercial website. Again had this message after completing form - it's about the fifth time over many days! "We’re sorry, the Serious Fraud Office reporting form has encountered an unexpected error. Our support team has been notified and will attempt to resolve this issue as soon as possible. " What browser you are using? (eg Chrome, Internet Explorer, Firefox, Safari, Opera) Chrome but have also used Edge What device you are using? (Mac, Windows Computer, Tablet, Smartphone) Windows 10 Desktop Computer If you have any custom security settings on your browser which you think may affect you when sending data through a web form? Not to my knowledge - no problem with other government websites BEFORE COMPLETING ALL THE INFORMATION ONCE AGAIN IT WOULD BE APPRECIATED IF YOU COULD KINDLY PROVIDE GUIDANCE AS, IF FROM THE INFORMATION IN THIS EMAIL (OR INFORMATION FROM OTHER COMPLAINANTS OR SOURCES, CONCERNING THE CONDUCT OF XCITE ENERGY, THIS IS AN ISSUE WITHIN YOUR REMIT *********************************************************************************************************************** Complete the report form at the Serious Fraud Office https://sforeporting.egressforms.com/

Good point highlandsbull in your post at 9.16. What is "substantial" to smaller investors, even if united in a joint action, is possibly insignificant to major investors. Smaller investors need the leadership of a major investor or a"no win no fee" lawyer confident that they have a case against those listed in your post.. Alternatively an expert willing to lodge the relevant papers and complaint.

Superb post stewartuk13 at 12.15 today. Nothing sinister in the removal of your links - you have to have posted a few times before links are allowed. I repeat those you provided:- Find your Member of Parliament http://www.parliament.uk/mps-lords-and-offices/mps/ Reporting issue to the Serious Crime Office https://www.sfo.gov.uk/contact-us/reporting-serious-fraud-bribery-corruption/ Self-regulation Because AIM is an unregulated market segment, it escapes most of the mandatory provisions contained in European Union directives – as implemented in the UK – and other rules applicable to companies listed in the LSE. AIM believes self-regulation is pivotal to AIM’s low regulatory burden: companies seeking an AIM listing are not subject to significant admission requirements; after admission is granted, firms must comply with ongoing obligations which are comparatively lower to the ones that govern the operation of larger exchanges; and certain corporate governance provisions are not mandatory for AIM companies. Therefore, AIM-listed companies are often subject to manipulation by institutional investors. AIM-listed companies usually are only required to adhere to the corporate governance requirements of their home jurisdiction, which, as a practical matter, vary widely.[5] However, the regulatory requirements are more onerous than for private companies and AIM listed plcs are required to prepare audited annual accounts under IFRS.[6] The Financial Conduct Authority seemed to direct me to a page focussed on insurance complaints and reporting issues to the organisation involved before an Ombudsman could be involved. Have the Financial Conduct Authority accepted a complaint and given a reference number to a grievance from a poster on this forum? If so it might be helpful if the contact address could be posted and perhaps the complaint number?

Excellent article "Angry shareholders not Xcited about bondholder wipe out" https://www.energyvoice.com/oilandgas/north-sea/122268/angry-shareholders-not-xcited-bondholder-wipe/ Does anyone know if there will be proxy voting arrangements for key meetings or voting will only be by attendance at the event? Maybe the Articles enable major decisions without full democratic involvement of all shareholders?

In honest and above board financial arrangements and management one would expect bondholders to be paid back in full before any payments are made to shareholders. This could result in the case of Xcite ordinary shareholders receiving nothing or very little in relation to what they have paid for their shares. Some posters have suggested making contributions to a fund to engage lawyers but unless a "no win - no fee" lawyer will act on behalf of ordinary shareholders this could be a lost cause as many small shareholders will not have surplus funds to pay lawyers. I am sure the lawyers we need are looking at the situation and if there is any chance of them winning compensation they will try to contact ordinary shareholders. We can start the ball rolling by writing to our Members of Parliament and you may like to use and modify the letter we sent to our MP posted Wednesday at 19.54 hrs. It's a shame that the posts on this forum are not more focussed on helping those suffering losses to present their case to the appropriate organisations and getting legal input whether paid for or free.

Dear Nick Herbert, With some of our trading profits from investing in Barclays and Lloyds banks when their share prices hit their lowest Margaret and I decided to buy a total of 54,000 shares in Xcite Energy paying an average of £2 a share. We considered an investment in a declared and proven North Sea oil field should be reasonably safe. .In the interests of having a complete change in our life style if the venture were successful we accepted we did not have the full protection of the regulated stock market Here's a view from someone in the industry:- "I've never invested in XEL, as an oilman I knew Bentley would never make money. So did everyone XEL approached back in 2007..... If there is truly going to be investigation here, I would suggest each of the numerous CPRs that formed the basis of the reserves definitions (value) are added to the list of things to be looked at. " Unlike ourselves there are many first time investors with hard earned money who were attracted to what they thought would be a safe and successful venture that would also be of benefit to the Country Here's one of them posting on the London South East Share forum:- " I work in a factory. I've struggled for 45years labouring away. Listening to your claims of the share price "Doubling or trebeling" when it was at £3.65 I though I had a chance of investing into something that would end the drudgery of working life. I bacame the proud owner of 193,000 shares in XEL. Spured on by your optimism I traded this share all the way down. I managed at one stage to have 250,000 shares. Can you please take quiet moment and try and emagine what this is like for me now. I'm 60 years old. I have nothing left. I will now watch my money go to an organisation that is stinking rich. In my later years I will watch in horror as this field is developed and all my money will go to an organisation even richer than the bond holders who "Stole" it from me. Here is my email address if you would like to talk rob.wainwright@sky.com" May we urge you in the interests of people like Rob Wainwright to arrange full investigations by the relevant enforcement agencies to investigate. Many are convinced that there has been potential fraud,, inappropriate or totally incompetent management that resulted in the losses that have put the business in liquidation. Might it be possible to consider the development costs incurred by the shareholders are taken on board when any new licence for the relevant oil fields are granted? We have posted a copy of this letter to you on the above forum with a recommendation that Mr Wainwright also writes to his own Member of Parliament. Surely it is in the interest of us all that AIM is regarded as a genuine finance market for new enterprises some of which may fail for genuine reasons. Surely it should not be a place where those new to the investment market can be stripped of their hard earned savin

Reply to Jayar's post Tuesday 7.25:- Before including reference to you post in our email to our Member of Parliament we wonder how an honest working man achieved £704,450 in saving to purchase 193,000 shares in XEL at £3.65. Did you sell the family mansion or use winnings from the lottery or horse racing?

aiminvestigations@lseg.com Have emailed this address as suggested and so far no autoreceipt (or bounce back) Is this the organisation that only reply on Wednesdays?

http://www.ipetitions.com/petition/cancellation-of-xcite-energy-limited-and-xcite Got a lass I know to sign the petition.. To face the hard times arising from what might be regarded as dubious activities you need extra income. I mean of course the income our Company Directors have taken from the pockets of shareholders to effect the destruction of what should have been a viable and successful company.

A recent news release states that the Advisor has stepped down and explains why http://www.dailyrecord.co.uk/business/business-energy/xcite-energys-nominated-advisor-steps-9142450

Excellent suggestion ceiling cat - Fight for 5% - Vote no! https://www.ipetitions.com/petition/xcite There's censorship on the petition! Although I signed the petition and both my wife and I have PEPs in which we hold hold Xcite shares now that wifey has signed my name has been deleted

I have signed and so has my wife

Thanks for this proposal westsider - you have my support and that of my wife - we have about 54,000 share between us purchased a few years ago at about £2 each!!!!!!!!!!!! Unlike others here the loss has not meant hardship - just failing to achieve a substantial change in our lifestyle

Is there an option for the board to create a postal ballot for this issue or must we attend an AGM or EGM to register our shareholder voting rights on such an important issue as restructuring. Alternatively is there a proxy vote option and I will be happy to give my voting rights to a representative of the "no" camp. Could those not within reasonable travelling distance of the location of the meeting make valid legal objections if deprived of a vote because of lack of democratic options?