Blencowe Resources: Aspiring to become one of the largest graphite producers in the world. Watch the video here.
highlandsbull: We will never know. As if by magic a Chinese consortium take control of Bentley for peanuts, then it will smell of a UK government stitch-up to me..... At least Cole is gone now, but the tech guys are still very much involved, why? Bentley is marked as postponed- http://www.floatingproductionzone.com/zones/fps_advanced_search.aspx the subsea equipment has been canceled for obviuos reasons- http://www.floatingproductionzone.com/zones/fps_advanced_search.aspx We should find out very soon who are the new operator.
ceilingcat: What a very sad individual you are. You are the one that never held a single share in XEL. If your so on the ball why didn't you post last week that he resigned. That's right , because you didn't know until yesterday. I also noticed you appeared on the URU BB the other day and slated all the well informed long term holders there. I take it you and your shorting chums have taken a position; a bit like what you did with XEL in 2014. At least I now know what you are all about. Got to wonder if you work alone or are part of a larger operation. Since you have shown your true identity as I suspected all along, don't bother replying to this post, I now have you on permanent FILTER....
So we are now down to the famous five. Got to wonder if Cole was pushed as part of a deal.
Will the person responsible for my six figure investment loss be missed? XCITE ENERGY RESOURCES PLC (04560068) Company status Active Correspondence address 1 Farnham Road, Guildford, Surrey, United Kingdom, GU2 4RG Role RESIGNED Director Appointed on 11 October 2002 Resigned on 22 March 2017 Nationality British Country of residence England Occupation Chartered Accountant
highlandsbull: you might find this piece an interesting read- http://uk.advfn.com/stock-market/NYSE/RDSB/share-news/Oil-Companies-Take-to-Thrifty-Bets/74042340
Shame they didn't think of this in 2015 when the UK industry was in freefall- Attracting Investment: Promote inward investment and raise the profile of UK E&P to potential investors through international trade fairs and targeted approaches. https://www.ogauthority.co.uk/media/3368/mer_uk_board_report_finalv2.pdf
Jup4it: ceilingcat making a complete fool of himself as per normal....
toxicnerve: Question I keep asking myself is. What's in it for the BOD of XER why all this effort, why not let XER go the same way as XEL and automatically relinquish the license leaving the bastards with nothing? Why is the BOD trying to get the bondholders their money back, and in this process leave nothing extra for themselves and us, the PI? After all they have lost possibly 10s of millions with the collapse of XEL. Something doesn't sit right with me and it's not my third leg.
highlandsbull: hope this helps- http://www.fticonsulting-emea.com/~/media/Files/emea--files/creditors-portal/cip-emea-public/xcite/xcite-energy-letter-to-shareholders-21-february-2017.pdf Still ongoing???????
highlandsbull. Two main problems that shafted us (XEL) were out of the BODs control. First was back in the summer of 2015. Our FSO provider was on the brink of collapse. This caused serious implications towards Bentley FDP and was a major setback for XEL. Remember this- Xcite looks to team-up with SSP for Bentley •08 January 2016 01:00 GMT •UK-based junior Xcite Energy is understood to be seeking a partnership with US-based floater technology provider Semb¬marine SSP covering the design and engineering of a cylindrical floating storage and offloading unit to develop its wholly- controlled Bentley heavy oil field in the UK North Sea, write Rob Watts, Steve Marshall and Ole Ketil Helgesen. •If it goes ahead, the new partnership would replace an earlier memorandum of understanding between Xcite and Teekay Shipping, reached in 2014, for the supply of a Sevan Marine- designed cylindrical FSO, said industry sources. 2nd- POO hit an all time low of about $27 a barrel just as Xcite and prefered partner were about to complete financial DD. Unfortunately that was the game changer and we know what happened next. Will it be the Chinese consortium or Maersk?
highlandsbull: You just need to look at Dundee harbour. Three jackup rigs berthed all belonging to Rowan. The Stavanger has been stacked since mid 2015, and Norway since mid 2016, Gorilla VI arrived last month. Aberdeen is still in freefall. Hotels, restaurants and hundreds of small/medium businesses all gone to the wall. But yet no action from central government. Can't wait to see what they do when the FI/banks start to move out of London as Brexit bites. I bet there will be action taken then......
In the latest update we were informed that XER would run out of money sometime in January - 4.2. Based on available forecasts, the funding available to XER was expected to be exhausted during the course of January 2017. If this was to occur, XER would cease to operate and the Licences would likely be revoked resulting in little to no value being available to the Company’s stakeholders. Here we are two weeks into February and still no news. Have XER attracted a late bidder causing the delay? 4.9. Having reviewed the bids received and consulted with secured creditors, the Joint Liquidators can confirm that they are in advanced negotiations with a party to conclude a transaction (the “Transaction”). The Transaction will not result in a return of any value to shareholders. 4.10. However, these negotiations are not exclusive and therefore the Joint Liquidators will consider offers from any party who has the technical and financial ability to conclude a transaction in a short timescale. Any party who has an interest in acquiring the Shares and has the funding available should immediately contact the Joint Liquidators at xcite@fticonsulting.com.
westsider: Probably been lot's of brown envelopes involved with this one. Wouldn't be surprised to see a Chinese led consortium picking up a $2.5 billion UKCS Heavy Oil Field for about $170 million. After all we have an unelected PM running our country. So what does that tell you about British democracy....
highlandsbull: You would think our government never wanted XER to take Bentley into production. They certainly put up as many hurdles as possible on the production path. Toxic: I think it's safe to say King Cole and his merry men have acted within the law regarding our predicament. What I don't get is. We were told that XER would run out of money in January due to current cash burn, but here we are 3rd February and still no news. What was is in it for XER to continue as a going concern? Why not liquidate both parties and let the bastard BH get little or nothing; like us long suffering PI's....
highlandsbull: It's because Statoil are looking to offload a large % of Bressay.
ceilingcat: I really don't know why people are continuing to post here! Why are you continuing to post here? I take it you are not one of the people.....
jonjo: Are you his boyfriend? I take it he can't post a reply at the moment due to the position you have put him in.....
There you go again toxictit, making a complete fool of yourself. He posted info from this dated the 9th- http://www.fticonsulting-emea.com/~/media/Files/emea--files/creditors-portal/cip-emea-public/xcite/xcite-energy-letter-to-shareholders.pdf I posted this just released- http://www.fticonsulting-emea.com/~/media/Files/emea--files/creditors-portal/cip-emea-public/xcite/xcite-energy-section-226-report-16-january-2017.pdf So there you have it, not second hand news as you wrongly put it. Toxic by name ToxicTit by nature.
Okay own up, who is due that $3 credit?
Toxic: since you stated I no longer had my finger on the pulse- http://www.fticonsulting-emea.com/~/media/Files/emea--files/creditors-portal/cip-emea-public/xcite/xcite-energy-section-226-report-16-january-2017.pdf