I see that the Xcite Energy share price is coming off the boil a little. I'm not giving the market makers even one of my shares.
Here' s why:
1. News on the Rowan Norway rig is due by the morning of February 12th.
2. Updated Competent Persons Report due mid feb onwards. RNS following flow test in December said that well was flowing at top of expectations and oil column larger than previously thought. Likely Bentley field upgrade from 160 mm barrels to 200-300 mm barrels.
3. Charles Lucas Clements said at the last Oilbarrel conference for investors to expect a doubling or tripling in the share price plus not to worry about rig.
4. Takeover rumours circulating, see previous post re. FT.com (http://contrarianinvestoruk.blogspot.com/2011/02/xcite-energy-ftcom-quotes-vague-bid.html). Statoil has a heavy oil field adjacent to Xcite acreage
5. Bentley field is in North sea, no political risks
6. Well funded through SEDA (Standby Equity Drawdown agreement where shares are issued at no discount in exchange for cash) and Bentley alliance structure
My previous post from January 2nd 2011, covers the main points (http://contrarianinvestoruk.blogspot.com/2011/01/xcite-energy-should-prove-highly.html)
Here' s why:
1. News on the Rowan Norway rig is due by the morning of February 12th.
2. Updated Competent Persons Report due mid feb onwards. RNS following flow test in December said that well was flowing at top of expectations and oil column larger than previously thought. Likely Bentley field upgrade from 160 mm barrels to 200-300 mm barrels.
3. Charles Lucas Clements said at the last Oilbarrel conference for investors to expect a doubling or tripling in the share price plus not to worry about rig.
4. Takeover rumours circulating, see previous post re. FT.com (http://contrarianinvestoruk.blogspot.com/2011/02/xcite-energy-ftcom-quotes-vague-bid.html). Statoil has a heavy oil field adjacent to Xcite acreage
5. Bentley field is in North sea, no political risks
6. Well funded through SEDA (Standby Equity Drawdown agreement where shares are issued at no discount in exchange for cash) and Bentley alliance structure
My previous post from January 2nd 2011, covers the main points (http://contrarianinvestoruk.blogspot.com/2011/01/xcite-energy-should-prove-highly.html)
No comments:
Post a Comment