Trades and observations from a British contrarian stock investor

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Friday, January 28, 2011

Xcite, lack of rig news

Interesting that no news on rig contract for Rowan Norway so far with deadline on Monday to avoid break fee of $4 million. Bit of speculation but could be either a) some big issue with fee or contract which has created a stumbling block and delay b) Xcite negotiating with Talisman to take early delivery of Rowan Stavanger until they need it then use Norway c) Xcite are in takeover talks and rig tied up in negotiation d) they've found another rig from another supplier

Option A seems unlikely after so many months! Intriguing indeed!

Big buyer still in background who picked up shares all day. Wonder who?

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