Xcite Energy Ltd (XEL)

blinko

i know, im not sure wether i should top up or sit out and just leave my initial stake in there, aloto f people have been going all in and the euphoria is crazy

i wasn't around when RKH was hitting oil was it similar

Shatners_Bassoon

Very similar but it was more unusual as RKH were a junior exploration co in a very new oil province. The find in SL was the first commercially viable find in the FI's despite oil shows in 1998 when Shell had a go at sinking a few holes.

Nix1982

What SP do you think we will see, if we achieve good flow rates? and then what could it go to?

Shatners_Bassoon

Broker notes will be being rewritten as we speak, Arbuthnot and Wellington have both recently revised their target price to around 2-3 quid but have not taken into account the new net pay values. If the flow rates are as good as 3000 bopd and XEL have in excess of 200mmbls recoverable then I don't think 6-7 quid is off the mark short term. Once production starts who know what the SP could reach, DNX (DANA) had less than us and they were eventually bought by KNOC in a hostile bid for just shy of 20 quid a share (1.2 billion roughly)

bobbyj_2

nix £8+, they'll flow the oil at some stage - so an expert tells me.

blinko

i think it will have a positive flow tewst and hit £3.50 ish, then additional data etc will push it up im sure there will be a reserve upgrade too,

im looking for a buy in this week but the spread has tighten im sure there will be a shake soon though

Nix1982

bobbyj wrote: »

nix £8+, they'll flow the oil at some stage - so an expert tells me.

Is just after flow rates? or when/if it goes comercial ?

12months?

bobbyj_2

6 - 12 months but favourite outcome is sellout to Statoil.

Cactus_Jack

I'm brand new to this world but I'm tempted to buy some shares in this company (it would be my first buy). Gonna have to try to do some serious research today and make my mind up in next 24hrs..seems a risky move for my first buy.

People here getting on this still?

Nix1982

bobbyj wrote: »

6 - 12 months but favourite outcome is sellout to Statoil.

Then what happens, if they sell to statoil where could it be then? :beer: