Xcite Energy Ltd (XEL)

uptomyeyeballs

Desire's result today has been disappointing for their shareholders, opening 40% down this morning. This has also dragged Rockhopper down a bit too. This shows that any South Atlantic investment is far more volatile and risky than our North Sea oil extraction programme with Xcite.

spike87

So is DES now a buy? Was thinking of getting in around the £1 mark (although glad I didn't) and with it now being around 70p with two more drills planned maybe now is the time to buy?

blinko

DES still has 75m cash in bank to fund drills, but its so high risk and the management are cruel that RNS release was not nice !

with DES my play would be buy now and sell before drill RNS is released

uptomyeyeballs

spike87 wrote: »

So is DES now a buy? Was thinking of getting in around the £1 mark (although glad I didn't) and with it now being around 70p with two more drills planned maybe now is the time to buy?

Stock is now probably oversold, so may be ripe for a short term profit on a recovery, but i'd give it a month or so to settle. Not a stock to hold for long though IMO.

uptomyeyeballs

And wadya know? It's treeshake time at Excite!

Jonbvn

uptomyeyeballs wrote: »

And wadya know? It's treeshake time at Excite!

Apparently they have cancelled a scheduled attendance at an Oil Barrel conference. Nervous holders read the worst into this and started a minor sell-off, assisted by the market makers.

Wouldn't be surprised if this was engineered to allow some to get on board cheaply before an important RNS. However, no official news from the Board as yet. I expect one tomorrow.

blinko

Why do youthink that ?

I dont, the next meaningful RNS will be either flow test results are complete awaiting results or the flow test results themselves these are due within a week or 2

the rest of it is just niose
with warrants and voting rights shifting around

anyone got any tips at the moment my plays are coming into line for next year but need a new home for my pennies im not sure XEL will retrace enough and no SXX please im still kicking myself for not getting inat 6p

Jonbvn

blinko,

See the RNS at 7am this morning dispelling the rumours of any problems.

Some ISA'ble stocks I am looking at (DYOR...) OMI, MML, CAZA (Gold & Oil)

blinko

Jonbvn wrote: »

blinko,

See the RNS at 7am this morning dispelling the rumours of any problems.

Some ISA'ble stocks I am looking at (DYOR...) OMI, MML, CAZA (Gold & Oil)

as soon as i spoke haha anyway sounds good huh, just a wait n see game now but i wish they would get a move on

thanks ill have lookon those cheers

Shatners_Bassoon

CAZA is a nice one to be in and they are awaiting frac/flow test results at the moment.