Member Info for LEGENDS

Blue-Eyes. I think we both know that Cole wasn't telling the truth regarding XEL for several years. TOTAL was another company linked with a move for Bentley in 2013. They apparently walked away because they had no experience with HO. That was the excuse I was told anyway. I wonder what he would have given in 2016 for Statoil to make that generous offer again. There is no way I can prove any of this due to it was word of mouth from someone connected with the project at that time.

HB. I'll go one better and say. If Cole accepted the very, very generous offer made by Statoil in the summer of 2013, you, I and many others would be sitting on a very hot beach somewhere sipping on a Pina Colada. Typical accountant: GREED GREED GREED........

Mr Kew has retired from the industry for good, so no chance of him returning. If Mr Cole knows what's good for him ????? I would love to know how XER managed to find enough money to last a further four months after we were told the lights were out by late January. What plant equipment did they sell, was it the turbines? Should XEL been forced into liquidation in December considering XER are still operating six months later? What is really going on? What role is the OGA playing in all of this? Are the rumoured Chinese consortium going to be the new owners? If so they will require personnel with Bentley technical expertise- http://www.xcite-energy.com/about-xer/management-team Probably why King Cole was forced to resign, after all he had/has no idea regarding surface and sub-surface engineering, or accountancy for that matter.

I see TS Jasper is still under construction and still managed by our old friends COSL. Not sure how up-to-date that information is. http://www.rigzone.com/oil/data/offshore-rig-search/rig-profile/1957/jackup/china_oilfield_services_ltd/ts_jasper/

Anyone else having trouble entering Xcite's homepage? http://www.xcite-energy.com/ Been down for two days now.

It's a pity I couldn't add someone else to that list......

highlandsbull. Question we will never get answered.

Since 2011 fewer than 25% of oil and gas projects have been delivered on time; with projects averaging 10 months’ delay and coming in around 35% over budget (relative to estimates made in FDPs consented by DECC (now Department for Business, Energy and Industrial Strategy)/the OGA). In the same time period, levels of capital expenditure (see Figure 1) have been at an all-time high, averaging just over £12 billion annually money of the day (MoD) since 2011. This compares to £3 to £6 billion (MoD) per annum through the last decade; and £1 to £2 billion annually on decommissioning. If only DECC granted XEL permission to drill back in 2011 they would be swimming in Bentley Crude right now... No wonder projects come in 35% over budget. What a bunch of ??????? https://www.ogauthority.co.uk/media/3380/oga-lessons-learned-from-ukcs-oil-and-gas-projects-2011-2016.pdf

Will the team manage to seal the deal with the Chinese before the 30/06/17? http://www.xcite-energy.com/about-xer/management-team

Rivendell666. It was King Cole- https://beta.companieshouse.gov.uk/company/04560068/officers

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?