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DeZwarteRidder 27 maart 2014 19:08

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XCITE ENERGY (LSE:XEL)
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Today's low: 68.01
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DeZwarteRidder 27 maart 2014 19:10

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17:32
A BOD who have failed

ExecutiveDirector [Interactive Investor client]
3UP
The SP and the cloudy future of this company, which we are being told is one of the UK’s strategic OIL interests, are now in grave danger in my book. Rupert Cole has delivered nothing as far as the SP is concerned having missed opportunity after opportunity to move this company forward. Let me repeat that just for those who may have missed it. Rupert Cole, along with his BOD presents a clear and present danger to the near and long term future of Xcite.

He is in my mind nothing other than a complete FAILURE. As such our SP is now and will continue to head into the abyss. I for one am seeing this heading to sub 50p by the time MM’s are finished with this, The MM's are just starting, soon there will be no meet on the bone. What will be left for us long term investors will be the rotten carcass of XCITE.

Rupert (Millionaire) Cole will continue to line his pockets with a huge Salary that he is no entitled to, in fact if he has any morals he would pay it back and resign with immediate effect from the BOD

Rupert Cole, you are disaster, a disgrace and an absolute nightmare to the successful future of XCITE. Please tender your resignation prior to the AGM.

I for one will be more than happy to kick your fken arXX and chuck you out the building. Role on AGM

www.iii.co.uk/investment/detail%3Fcod...

DeZwarteRidder 27 maart 2014 19:28

1

17:37
Re: Wow, this BoD are amazing

barbara-b

Well there we are after more than three years of utter tripe oops meant hype we are back to pre 2010 levels, each will have his own opinion of the current BOD I am sure however there can be no doubt that RC must take the can for this complete and utter shambles, "The industry will value us" well Rupert they have nil, zero, nada, no plan, no future. Your options are perfectly clear close the door on the way out and never look back. Today we eventually got the truth of just what is going on, result total shambles, get someone in who can deal with high level negotiations as the industry have also valued you RC and my man your not worth a lot.

www.iii.co.uk/investment/detail%3Fcod...

DeZwarteRidder 28 maart 2014 17:51

0

09:19
Timebomb

Stratocastor79
6UP
I did.

Nothings changed, we are still on course to production. Who with, we still don't know.

Back to 90p+ soon IMO.
=========================================================
Ever the eternal optimist……if you are lucky enough to have cash you can have sitting around doing nothing and watching your investment not going to plan, thats all fine and dandy.

Its not quite shrewd investing is it!

Your right about 'nothing has changed' but it should have thougha long time ago!!! This bod has given expectation after expectation to the point of near bare faced lies!
Telling people they would get to first oil is impossible, 2016 is impossible as well.
A topsides and jackets would take 3-4 years of getting through the FEED and building phase if they started tomorrow.
What we dont have and what they promised is:
an approved FDP
RBS loans in Place
a partner

They are admitting to dredging whatever they can salvage right now…IF I had not of sold a lot of my stock at around the 106 mark I would be significantly worse off if I wanted to move investments.

The only way this will move is the PI's get cleared out and there is a decent profit in it for someone who is willing to take the chance.

I really would not expect this share to exceeed 150p again before its bought out.

I thought contrarians note yesterday reflected well on how things are…

Ive still got 40k of shares which I bought at between 79p and 96p, but I think my best shot is a low ball takeover…not a opoular view I know for one who was once so bullish…but its real money and you have to ask your self if its all so good why is everyone so hesitant!!!

www.iii.co.uk/investment/detail/?disp...

DeZwarteRidder 28 maart 2014 17:52

0

09:10
Re: The sp..

reitman
8UP
Regrettably, I would have to agree with Elena. XEL is one of a number of small cap oilcos that I bought into some years ago, in the full expectation that some would succeed and some wouldn't. All I would say is that too many people who post on this board are seduced by the indisputably huge amount of oil in the Bentley field - without any appreciation of the cost and difficulty of actually extracting it. The XEL board have gone a long way towards devising a workable engineering strategy for the first time, but that it is a far cry from building a commercial system that works faultlessly 24/7, with all the consequent infrastructure - which is made all the more difficult because with the major apparently shelving development plans for this type of field, there is less possibility of building/sharing infrastructure. I found the RNS honest but almost an admission of defeat. We have to remember that most of the BOD are at the end of their careers - honest men no doubt (maybe too honest) but without much track record of entrepreneurship. Entrepreneurs tend to be that throughout their lives - you don't suddenly become an entrepreneur aged 50, however much managerial/technical experience you have - and to pull this off will require quite extraordinary energy and acumen. Do the BOD have that? I doubt it. The structure of the RNS is a good example of their failings in this respect. Many will recall that when all this started, we heard a lot about the 'Bentley Alliance' - a new model of field development based on the concept of partnership with leading companies offering complimentary skills. We seem to be going back to something like that model now. Consequently, if the BOD had wanted to keep this stock alive, they should have said: 'Right chaps, we looked into all the farm-out options and couldn't get the right deal. That's very much what we expected, because we've been saying all along that the 'Bentley Alliance' type strategy is going to be best for us all - but we had to try the farm-out route just to prove we're right. Now, you'll be pleased to hear that we're getting the Alliance together - remember we did a deal with AMEC and that's a big name to have as partner. So hold tight chaps, the show is still on the road.' Unfortunately, that's not how they put it .... One day somebody will pick up the Bentley oil field and start wringing oil from it. But when? 10 years? 20 years? 50 years? It's not as though we haven't known about it for 30 years already!

www.iii.co.uk/investment/detail/?disp...

DeZwarteRidder 28 maart 2014 18:30

0

Watch
XCITE ENERGY (LSE:XEL)
Alert
66.50
Today's low: 65.48
Sell XEL
67.00
Today's high: 72.59
Buy XEL
Last trade:
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DeZwarteRidder 7 april 2014 16:18

0

7 April 2014

Xcite Energy Limited
("Xcite Energy" or the "Company")

MOU with Teekay Shipping

Xcite Energy announces that its 100% subsidiary, Xcite Energy Resources Limited ("XER"), has entered into a Memorandum of Understanding ("MOU") with Teekay Shipping Norway AS ("Teekay"), which sets out the principles of co-operation for the supply of a bridge linked Sevan floating storage and offloading ("FSO") facility for the life of the Bentley field.

XER and Teekay intend to work together on an exclusive basis during the project, from front end engineering through fabrication, hook up and onwards into production operations and maintenance.

XER believes that the bridge linked Sevan FSO offers a number of significant benefits to the overall Bentley field development concept, including available deck space to locate utilities on either the platform or FSO. In addition, XER believes that there would be reduced flow assurance risk, due to the removal of subsea pipelines and minimised motion characteristics to aid reservoir fluid dehydration.

Rupert Cole, CEO of Xcite Energy, commented:"We are very pleased to be joined by Teekay as a partner in the development group, following on from their important role in the successful Bentley extended well test. Building on this relationship as we progress Bentley towards production, we believe will deliver the Sevan FSO as a vital component of the Bentley field development plan."

Read more at www.stockhouse.com/news/press-release...

+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
Dit is een volkomen onzinnige overeenkomst zonder financiering van het hele project, dit is dus alleen bedoeld om de aandeelhouders een tijdje koest te houden.

[verwijderd] 7 april 2014 17:00

0

Ook het gerenommeerde UpstreamOnline wijdt een artikel aan de Memorandum of Understanding tussen Xcite en Teekay Shipping ;

bron : www.upstreamonline.com/live/article13...

Greetzzz

DeZwarteRidder 7 april 2014 19:34

0

Xcite Energy has signed a deal with Teekay Shipping for the provision of a floating storage and offloading unit on the Bentley field in the North Sea.

The London-listed player signed the memorandum of understanding with the Canadian ship owner for the supply of a bridge-linked unit for the lifetime of the field.

The pair will work together on front-end engineering and fabrication, hook-up, production operations and maintenance.

Xcite did not identify which unit will be put to use on the field.

Upstream reported last week that Xcite is exploring new partnership models with service companies to get Bentley off the ground, while there is still a chance a field development plan could be submitted this year.

Last summer the company submitted an updated environmental statement to the UK authorities covering the heavy oil development.

The statement covers the first phase development of Bentley and also includes an extension of the first phase, which incorporates two subsea satellites.

Permanent facilities will be installed from the second quarter of 2015 that will resemble a scale-up of the concept proven through last year’s pre-production flow test, Xcite said.

That comprises a drilling rig and production utilities quarters connected to a floating storage offloading unit by a short subsea bundle and subsea tie-back of two gas producing wells.

From 2017, the first phase will be extended by the addition of subsea developments to the west and north.

Bentley is located about 138 kilometres east of the Shetland Islands.

A planned second phase would consist of a further PUQ to the south, linked by pipelines to the first phase facilities, due on stream in 2020.

DeZwarteRidder 7 april 2014 19:37

0

quote:
ff_relativeren schreef op 7 april 2014 17:00:
Ook het gerenommeerde UpstreamOnline wijdt een artikel aan de Memorandum of Understanding tussen Xcite en Teekay Shipping ;

bron : www.upstreamonline.com/live/article13...
reetzzz

Het lijkt erop dat XEL geen partners kan vinden en het nu uit arren moede zelf maar gaat proberen, maar ze hebben GEEN CENT, sterker nog ze moeten binnen een jaar 80 miljoen afbetalen.
De enige manier om aan geld te komen is dus aandelen dumpen op de beurs.

DeZwarteRidder 7 april 2014 19:43

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XCITE ENERGY (LSE:XEL)
Alert
67.25
Today's low: 67.25
Sell XEL
67.75
Today's high: 73.00
Buy XEL
Last trade:
67.75
Change:
-0.75 (-1.09%)
Volume:
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Delayed price:
17:35:18

Investors split on Xcite's Bentley MOU
By Harriet Mann | Mon, 7th April 2014 - 12:58

Xcite Energy (XEL) dipped slightly to 67.59p in morning trading after announcing its subsidiary has entered into a Memorandum of Understanding with energy transportation, storage and production company Teekay Shipping Norway.

The pair will work exclusively together to supply a bridge-linked Sevan floating storage and offloading (FSO) facility for the Bentley oil field in the North Sea.

Subsidiary Xcite Energy Resources and Teekay will work from the front-end engineering stage of development through to production operations and maintenance.

Chief executive Rupert Cole said: "We are very pleased to be joined by Teekay as a partner in the development group, following on from their important role in the successful Bentley extended well test.

"Building on this relationship as we progress Bentley towards production, we believe will deliver the Sevan FSO as a vital component of the Bentley field development plan," he added.

The stock was down 1.31% with a bid price of 67.5p and an offer price of 68p at 12:00, as the stock became one of the most-traded on Interactive Investor.
Investor view

Users on the Interactive Investor discussion board were split on the news, with one believing the update was "desperate".

When questioned on the stance, '3Dimensional' said: "He [Rupert Cole] should have been throwing in the RNS when the farm-out talks broke down and supported the share price rather than giving those in the know the selling opportunity."

However, 'SIMBO1' retorted: "But have they broken down? Just states discussions were slow and looking at other options."

Investors were disappointed late last year as farm-out talks for the Bentley field failed to come to a conclusion.

Other users on the discussion board wondered why the share price did not reflect what they saw as positive news.

"What an utterly underwhelming reaction from the market to the new ISA year and a great RNS," said 'ban man'.

Other users believe that buying into Xcite now will reap benefits in the future.

'5 Iron' said: "Why would anyone buy in now for a 2016/17 (as another user put it) play? Because today it's cheap - my take on it is that it will rise slowly but continuously from here up to and beyond production.

"By the end of 2015 you will have missed the boat with most of the capital growth and be buying the production dividends at multiples of today's opportunity."

'Elena Saratov' agreed: "Today's share price is heavily oversold and a very good entry point for investors patient enough to wait until 2016/17 for first oil."

However, 'Fatlad2' said: "We are seeing more detail of a plan. The board of directors need to present a good outline plan at the AGM of how we are taking this into production in the third quarter or fourth quarter of 2015.

"Through XEL having a plan this flies in the face of Statoil (STO) playing bully boy and wanting to pick this up for a pittance."

'Shedful' said: "Agree positive RNS so let's see Xcite push forward and Statoil can go and shove it where the sun don't shine, unless they are willing to pay the correct price."

DeZwarteRidder 8 april 2014 12:09

0

09:31
Re: Plan C or D..

Reidser
4UP
Agree, Their hand is being forced down to Production road. A realistic plan for Xcite to achieve first oil is a very similar set up to the EWT producing form the 2 well bores currently available. Obviously subject to DECC approval.

This is the best route until we have some agreeable offers (TO & FO) to discuss.

The market wants to hear about financing (RBL) which needs to be in place prior to FDP and ES approval. In the mean time as you say Mike some confidence from the BoD in the form of director buys would seem sensible to me, if the can't buy then they should RNS it. (Can they do that?)

Reidser

+++++++++++++++++++++++++++++++++++++++++++++++

09:26
Re: Disconnect is absurd

Stratocastor79
3UP
Whats absurd in a company that has mainly a load of PI share holdes who on average piled in and piled in as the stock wenrt lower and lower and the company kept changing their plans!

The market does not like plan changes unless they bring more value-quicker!

Put plainly, the BoD have not delivered and I feel sorry for those whom have been brown nosing them in the face plain failure to deliver any plan never mind A,B,C,D.

Until all the costs are transparent and factored in, the market sees Xcite energy as an uninvestable entity and as such wont touch it with a barge pole until it sees evidence of real progress, no change of plan and fiancial stability (no placing) going forward.
Atthis point what is the full plan and what will it cost!

www.iii.co.uk/investment/detail?code=...

DeZwarteRidder 8 april 2014 12:11

0

Waar zijn de fans gebleven.....???

Graag wil ik hun commentaar horen op de recente ontwikkelingen.

RT2014 8 april 2014 12:47

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quote:
RT2014 schreef op 25 september 2013 09:27:
Ik zit sinds een half jaartje met een kleine speculatieve positie in Xcite. M'n positie noteert inmiddels op een bescheiden winst.

Het verschil tussen de fundamentals en de koers is nog steeds opvallend. Binnen niet al te lange tijd (komende maanden) zal blijken of de Board bestaat uit Victor Mullers of dat de fundamentals daadwerkelijk worden verzilverd.

Ik heb de positie op 27 maart geliquideerd (iets minder dan een jaar na aankoop). Gezien het persbericht van die datum heb ik er geen vertrouwen meer in dat de bestuurders binnen afzienbare tijd een deal op poten kunnen zetten. Ze hadden veel praatjes, maar hebben afgelopen jaar geen enkele vooruitgang geboekt. Mijn eindoordeel over de stelling die ik vorig jaar in september plaatste moge dan ook duidelijk zijn.

Wil een belegging in Xcite rendabel worden dan mag de deal niet te lang op zich laten wachten, anders is het verwaterende effect van alle financieringsconstructies te groot.

De investering is al met al niet echt een succes geweest.

In april 2013 ben ik ingestapt op 95 pence, 1/3 verkocht op 1,15 in september 2013 en op 27 maart de resterende 2/3 voor 75 pence :(
Per saldo een verlies van 14%.

DeZwarteRidder 8 april 2014 15:07

0

quote:
RT2014 schreef op 8 april 2014 12:47:
[...]
Ik heb de positie op 27 maart geliquideerd (iets minder dan een jaar na aankoop). Gezien het persbericht van die datum heb ik er geen vertrouwen meer in dat de bestuurders binnen afzienbare tijd een deal op poten kunnen zetten. Ze hadden veel praatjes, maar hebben afgelopen jaar geen enkele vooruitgang geboekt. Mijn eindoordeel over de stelling die ik vorig jaar in september plaatste moge dan ook duidelijk zijn.
Wil een belegging in Xcite rendabel worden dan mag de deal niet te lang op zich laten wachten, anders is het verwaterende effect van alle financieringsconstructies te groot.
De investering is al met al niet echt een succes geweest.
In april 2013 ben ik ingestapt op 95 pence, 1/3 verkocht op 1,15 in september 2013 en op 27 maart de resterende 2/3 voor 75 pence :(
Per saldo een verlies van 14%.

RT2014,
bedankt voor je openhartige reactie!

DeZwarteRidder 9 april 2014 13:44

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ABERDEENSHIRE, UNITED KINGDOM--(Marketwired - Apr 9, 2014) - Xcite Energy (TSX VENTURE: XEL) (LSE: XEL)

Xcite Energy announces that its 100% subsidiary, Xcite Energy Resources Limited ("XER"), has entered into a Memorandum of Understanding ("MOU") with AMEC Group Limited ("AMEC") and Ove Arup & Partners Limited ("Arup"), which sets out the principles of co-operation for the design and development of Arup's self-installing, steel ACE platform for the Bentley field.

XER, AMEC and Arup intend to work together to optimise the existing ACE platform design for the Bentley field, covering all aspects of assurance, engineering, procurement, construction and installation. This should enable XER, prior to contract award, to confirm the final platform design and capital requirement for one of the key Bentley field development assets.

XER believes that there are a number of benefits from using this existing, proven, self-elevating design, including the ability to build and integrate the platform at a wide range of construction yards. This should enable a direct wet tow to be undertaken to the Bentley field, at which time the platform can be installed with minimal offshore support. This, together with the application of an inherent "design for decommissioning" principle, should result in a capital efficient and environmentally compliant development infrastructure solution.

Rupert Cole, CEO of Xcite Energy, commented:
"We are pleased to be able to announce AMEC and Arup as partners in our development group to progress Bentley towards production. Following on from the $250 million extended well test, this next phase of engineering will allow us to optimise Arup's existing ACE platform design for the Bentley field and enable us to refine the costs and related schedule ahead of submitting the Field Development Plan."

Read more at www.stockhouse.com/news/press-release...

[verwijderd] 9 april 2014 19:09

0

@DeZwarteRidder, wat vind je van de MOU met AMEC en Ove Arup ?

Greetzzz

DeZwarteRidder 9 april 2014 21:03

0

quote:
ff_relativeren schreef op 9 april 2014 19:09:
@DeZwarteRidder, wat vind je van de MOU met AMEC en Ove Arup ?
reetzzz

Ze kunnen geen echte partner met geld vinden en gaan het nu toch weer zelf proberen.
Het meest vreemde is natuurlijk dat ze iets gaan doen zonder te vertellen hoe duur het hele plan is en waar dat geld vandaan moet komen.

relpinda 13 april 2014 14:10

0

AMSTERDAM (AFN) - UBS heeft een kapitaalbelang van 5,06 procent in Fugro. Het stemrecht is voor 4,12 procent in handen van de bank. Dat blijkt uit een melding bij de Autoriteit Financiële Markten (AFM).
De vorige melding van UBS over Fugro is van eind maart. Toen was het kapitaalbelang 4,97 procent en het stemrecht 4,05 procent.

DeZwarteRidder 14 april 2014 09:10

0

Ben ik helderziend of lijkt dat maar zo....??
Binnenkort begint het dumpfeest weer.
++++++++++++++++++++++++++++++++++++++++++++++++++

14 April 2014

Xcite Energy Limited

("Xcite Energy" or the "Company")

Equity Line Facility Agreement Extension

Xcite Energy announces that it has extended the term of its existing Equity Line Facility agreement ("ELF") with Esousa Holdings, LLC by three years until 30 July 2017.

The terms and conditions of the ELF remain unchanged, with an undrawn facility amount of £30.84 million, to be used, subject to the terms and conditions of the ELF, at the sole discretion of the Company.

Vertraagd	19 feb 2025 17:35
Koers	14,580
Verschil	-0,340 (-2,28%)
Hoog	14,950
Laag	14,530
Volume	399.412
Volume gemiddeld	502.886
Volume gisteren	447.176

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