Trades and observations from a British contrarian stock investor

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Wednesday, January 12, 2011

Dull day so far for portfolio

After getting up with anticipation every morning this week for an RNS from Xcite Energy, nothing so far. The shares dropped 4.5p initially but now are stable down 1.5p at 385-395p but the spread is swinging around considerably. I was a little surprised that the drop wasn't much greater but I suppose everyone's playing the waiting game and not daring to trade in and out with news due any time soon on the Bentley resources. I still believe an RNS will be issued before the oilbarrel.com conference tomorrow but the board of directors are pretty astute in releasing information only when the i's have been dotted and t's crossed. The rig news must come before the 15th to avoid a $4 million penalty.

Angel mining and Bowleven are both pretty flat today. I guess its going to be a low adrenaline day! Come on Xcite board give the Contrarian a lovely RNS this morning!

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