Rupert Cole (CFO Xcite Energy) Interview March 4th 2011

Link below to Rupert Cole (CFO Xcite Energy) March 4th 2011:

Rupert Cole of Xcite Energy believes there’s still significant upside on asset value

Friday, March 04, 2011

http://www.proactiveinvestors.co.uk/companies/stocktube/686/rupert-cole-of-xcite-energy-believes-theres-still-significant-upside-on-asset-value-.html

Key highlights from Cole:
Well - outstanding success, beyond public conservative modelling assumptions
New reserves assessment report - model has to be rebuilt from scratch with increased in place volumes, and enhanced reservoir performance demonstrated from well test. Usually 6-9 months timeline, trying to complete in 3 months. Says categorically that reserves assessment has not bee done, nothing to hide. Targeting for end March Doing things as quickly as possibly can, but robust and efficient assessment for first stage production. Maximise value for shareholders. Don't get hung up on a particular date.
Value of Bentley - $1 billion company is reflection of asset value. Still significant upside in asset value and therefore share price. $4-5 per barrel asset price, target is $10-15.
Director sales at £3.84 - rebalance personal asset sheets, reasonable thing to do

Topped up on Weatherly International

With Weatherley (WTI) dropping today to 12.25p to buy, I have taken the opportunity to buy more. After buying Xcite around £3 a couple of days ago, I have taken a little off the table (plenty left there).

WTI is a favourite because :

• Copper production is already happening at the company's Matchless and Otjihase mines
• Forward sales already contracted to with Louis Dreyfus Commodities commencing in May 2011 at a fixed price of US$9,750/tonne. (total forward sales of 1,925 tonnes), 20% of anticipated production from May 2011 for 17 months.
• China Africa Resources flotation expected in April/May 2011 (WTI shareholders will receive shares in the new company)
• Blackrock now hold 16% of the company

Range Resources drops back a little after going into orbit this week

Range Resources (RRL) went to 24p intraday yesterday and even at todays price of 20.5p, they are up nearly a third on the week. RRL came off the boil by 7% today (and was a lot lower earlier) after the company issued an RNS with a letter they sent to the ASX exchange in response to the share price increase earlier in the week. It is amazing to think that the 52 week low was 3p and at the end of 2010 the shares were 6p. The market capitalisation is now £285 million. Any piece of news seems to send RRL up over 10%. Disapointed not to have been in on the ride back in early February, but even for me a little on the higher risk side. C'est la vie! See below:

4th March 2011 
 
 
The Manager 
Company Announcements 
Australian Securities Exchange Limited 
Level 6, 20 Bridge Street 
Sydney NSW 2000 
 
 
By e-lodgement 
 
RE: PRICE QUERY 
 
I refer to your letter dated 3 March 2011 in relation to the recent change in 
price of the Company's securities and respond as follows in line with the 
numbers of your letter. 
 
 1. The Company is not aware of any information concerning it, that has not 
    been announced and which, if known, could be an explanation for recent 
    trading in the securities of the Company; 
 
 2. Not applicable; 
 
 3. Range recently announced a number of key milestones for the Company across 
    its development and exploration assets, including; 
 
    - the securing of the drilling rig for its Georgian exploration program; 
 
    - anticipated mobilisation of the Georgian drilling rig expected March 
      2011, and planned spudding in April 2011; 
 
    - commencement of drilling at the East Texas Cotton Valley Project; and 
 
    - successful fracture stimulation of the lower two zones on the Russell 
      Bevly well, with the upper two zones to follow later in March 2011. 
 
It is anticipated that further updates on the Company's activities will be made 
with respect of its assets over the coming weeks as events occur, as indicated 
in the recent announcements from the Company. 
 
The Company also notes that its Executive Directors have been in London on a 
promotional visit, further increasing the awareness and activities of Range to 
a wide range of the London investment community, at a time of increased 
activity across the Company's portfolio of assets. 
 
Since the release of the announcements referred above, the share price has 
increased significantly (with volume) on its AIM traded shares (with ASX 
following). 
 
 4. The Company confirms that it is in compliance with the ASX Listing Rules. 
 
 
Yours faithfully 
 
Peter Landau 
Executive Director 
Contacts 

Sareum Holdings soars 170% on pre-clinical CHK 1 study

Sareum Holdings (SAR) is currently up 170% on news from its CHK-1 inhibitor in Colon Cancer. Potential investors should remember that this is a very early stage pre-clinical study and secondly I would bet that Sareum have a fund raising on this news. I wouldn't be surprised to see it lower by the end of the day. Exciting stuff for investors who bought at 1p though. See my previous review on Sareum : http://contrarianinvestoruk.blogspot.com/2011/02/sareum-holdings-pharmaceutical-cancer.html

Research Update: Positive Chk1 Programme Model Studies

 (AIM: SAR)   4 March 2011


                              SAREUM HOLDINGS PLC
                                   ("Sareum")

             Research Update: Positive Chk1 Programme Model Studies
Sareum,  the specialist cancer  drug discovery business,  is pleased to announce
positive  results from  pre-clinical in-vivo  efficacy studies  from their joint
research  collaboration with Cancer Research  Technology Limited ("CRT") and The
Institute of Cancer Research ("The ICR").

A  recent  colon  cancer  pre-clinical  model  study  carried  out  by  The  ICR
demonstrates  that the combination of a  collaboration Chk1 inhibitor, dosed via
the   oral   route,   in   combination  with  a  chemotherapeutic,  gemcitabine,
demonstrates a greater than two-fold reduction in cancer growth rate compared to
treatment with the same dose of gemcitabine without the Chk1 inhibitor.

Further   pre-clinical   in-vivo   studies  for  the  programme  show  that  the
collaboration Chk1 inhibitor, dosed alone, can reduce cancer growth in models of
AML  (acute myeloid leukaemia) and  neuroblastoma (a childhood cancer).  Certain
cancers, such as these, are believed to be dependent on Chk1 for survival.

The  joint research collaboration with the  ICR and CTR targets Chk1 (Checkpoint
Kinase  1). Chk1 is  important in  controlling a  cancer cell's  response to DNA
damage, which may be a consequence of the cancer itself, or intentionally caused
by chemotherapy or radiotherapy.

Sareum's CEO, Dr Tim Mitchell, commented:

"These  are exciting advances,  demonstrating efficacy of  our Chk1 compounds in
several cancer models. Studies on additional models are on-going. We believe the
results  from  the  recently  conducted  studies  will significantly enhance the
licencing  package and assist  the collaboration in  selecting the best compound
for development into a clinical trials candidate".