Member Info for LEGENDS

Still no update from Statoil regarding another Bressay license extension from the OGA. Looking at the latest Upstream article, as expected, Statoil are rumoured to be in the bid- http://www.upstreamonline.com/archive/?q=xcite&languages=en&locale=en The question is. How much are the majors willing to spend to secure one of the largest development ready HO fields in the UKCS? Add to that license P-1979. With an estimated 100MMbls located if four surrounding prospects. http://www.xcite-energy.com/news/presentations-and-documents/reserves-assessment-report-as-at-31st-december-2015 A good spot from Zan. P-1979 is no longer listed on AC asset list- http://azinorcatalyst.com/assets-2/ Latest doc regarding XER from companies house- https://beta.companieshouse.gov.uk/company/04560068/filing-history

Good to see the Chuckle Brothers are still getting work and working together. Three years in a row now, and still not been found out...... Wait a minute. It looks like they have a new brother on the bill.

I would suggest you all ignore that poster; like we used to do.

It is important to highlight that prior to commencing the Sales Process the Directors had, for a number of years, pursued a series of processes and strategies to attract an investment partner for XER’s main asset, the Bentley field. Since 2013, the Directors had been in contact with over 80 parties, of which sixteen have been or are currently engaged in diligence, including through access to a dataroom, that contained a significant amount of information to enable a detailed technical, commercial and subsurface due diligence to be undertaken Now you know why I was very upbeat and happy back in the good old days before Q1 2016. Don't forget Bressay and the supposed Quad 9 Hub people... Bentley is still a strategic asset.

highlandsbull. It had nothing to do with insufficient technical data at that time. Xcite were forced to go down the EWT route by DECC because of the BP Gulf of Mexico tragedy- https://www.dosomething.org/facts/11-facts-about-bp-oil-spill A team from Xcite attended a meeting to protest and give a presentation. As part of that presentation, a jar of raw Bentley crude was upturned onto the DECC representatives table. As explained to them. It was impossible for Bentley crude to spill under reservoir conditions. Unfortunately they still bottled it and forced the hugely unnecessary and expensive ETW upon Xcite. Thank's to those ****s. I have lost nine years of my life and a six figure sum. Not to worry. At least our friends from the far east are going to get the fourth largest development ready, UKCS field for a pittance. I can sleep easy knowing that.

http://www.floatingproductionzone.com/zones/fps_advanced_search.aspx

highlandsbull. Exactly what i'm getting at. DECC put up as many hurdles as possible to stop Xcite Energy Ltd developing what is now one of the largest proven Heavy Oil fields in the UKCS. Then as you quite rightly put it. The OGA appear as if by magic, promising the world to all involved in the UKCS. You would almost think that HMG never wanted a minnow like XEL owning 100% of a key UK asset. You would almost think that HMG have had a plan for Bentley and Quad 9 for many years now, that didn't involve minnows getting in the way. You would almost think that HMG have a preferred operator from the far east waiting in the wings. All part of the wider UK PLC deal. We the shafted shareholder will find out soon enough. I never trust an unelected PM........

No Mr Cole or anyone for that matter listed as BOD. http://www.xcite-energy.com/about-xer/management-team

12. Will shareholders receive a return from XEL? In order for XEL's shareholders to receive a distribution from the disposal of XEL’s assets, that sale must realise in excess of all secured and unsecured creditor claims. At this stage, those claims are estimated to be US$152m. We will find out very soon, just how much OUR dear Government have been involved in bringing XEL to its knees, since Bentley was classed as a major UKCS asset. What i'm hinting at is. The forced highly expensive SP killing EWT. The forced: no you cannot continue to use the Rowan Norway to generate revenue after the SP killing EWT. The forced: we require you to submit a full (do it like the big boys but you don't have the funds) FDP. Not long until we find out who HMG prefered owners are of the Monster Bentley Asset. I will hazard a guess. They will come from the east bearing gifts.

http://www.fticonsulting-emea.com/~/media/Files/emea--files/creditors-portal/cip-emea-public/xcite/xcite-letter-shareholder-6-dec-2016.pdf

Chad Griffin and Ian Morton of FTI Consulting LLP and FTI Consulting (BVI) Limited were appointed Joint Liquidators (the “Liquidators”) of Xcite Energy Limited (“XEL”) on 5 December 2016 by Order of the Eastern Caribbean Supreme Court in the High Court of Justice British Virgin Islands pursuant to Section 159(1) of the Insolvency Act, 2003. For the avoidance of doubt Xcite Energy Resources plc (“XER”) is not subject to an insolvency process, it remains under the control of its board of directors. The Liquidators of XEL are officers of the Court, their principal duties are to take possession of, protect and realise the assets of XEL, being its interests in XER, for the maximum value reasonably attainable. Further information on the liquidation can be obtained from http://www.fticonsulting-emea.com/cip/xcite-energy-ltd.

ceilingcat. My motive? It was always to try and bring a bit of reason and common sense to a board that otherwise ignored the facts and shouted down anyone that dared to suggest that all the positive posts here might have been based on groundless rose tinted optimism rather than reality. If that's the case. Why did you say you held shares in Xcite? If I was the guru you have always claimed to be. I would have sold my holdings all those years ago, and moved on with savings intact. You claim you sold out long ago, but still held onto 1 share. XEL no longer trade. So why are you still posting here? I still post here very occasionally, due to the fact I was an actual very long term shareholder (9 years) with a six figure loss. And as you well know. I stopped posting anything positive regarding Bentley/XEL at the end of Q1. I think it's now obvious why I stopped. Again. You only appeared here (one of the nutters from ADVFN) after the bond deal was signed. Good luck with your other investments; GURU.....

Jup4it. It's six years now since we sold the lot pre pipe RNS. If only we didn't buy back in. Or even better. After buying back in, sold the lot four weeks later. I wonder what XEL-2 will hold in store. P- 1979 about to expire soon also.

Never fails to amaze me. One of the bondbrothers hasn't posted for three weeks, the other half two weeks. Yet within minutes of my post it appears again. Got to wonder who these people are and who they represent. They both appeared here not long after the bond was signed.......

I see panto season has started. Still. It's not the same with only one of the chuckle brothers playing the part this year...

YEH RIGHT.... Promoting the UKCS as attractive investment destination Enhancing the reputation of the UKCS Internationally https://www.ogauthority.co.uk/media/2859/mer-uk-in-practice-introduction-dr-andy-samuel.pdf More waffle here- https://www.ogauthority.co.uk/news-publications/mer-uk-in-practice/

highlandsbull. I think tomorrow is a massive day for the UKCS. If, as I expect, OPEC fail to reach agreement, then it could be lights out time for the North Sea. Not a peep from the Government and its fantastic new body the OGA. So much for their words of wisdom regarding MER and Quad 9. You need to read the latest BULL coming out of that department. They are so stuck in their 1980s ways it's frightening... https://www.ogauthority.co.uk/media/2975/oga_consultation-on-seaward-production-licenses11-2.pdf

The problem was. The BOD had all their eggs in one financial basket. In Q1 when POO hit $27, that basket grew a hole, and all the eggs fell through. If only they had another basket! Maybe the one they were offered in Q4 2015...... Cole and Fairclough were caught with their trousers down, and weren't big enough boys to pull them up.

Still no news regarding the Bressay second extension from Statoil/Shell and the OGA. Less than four weeks to go. So much for the OGAs much touted MER and Quad 9 Heavy Oil Hub. At least the non elected Prime Minister as hinted that London City will be protected during and after Brexit. We will sleep easy in the north east, knowing that yet again, the bankers are getting to keep their yachts and holiday homes in the Med....

If only this happened 12 months ago- http://uk.advfn.com/news/DJN/2016/article/72960989