Xcite Energy Ltd (XEL)

Jonbvn

Shatners_Bassoon wrote: »

Bet you wish you were in XEL now when I tipped them back at 60p!

The SP was 70p+ when you first posted?

Since I work in the oil industry, I received a tip from a friend about XEL below 50p thanks.;) However, given it's speculative nature, it would not have been appropriate to post it on here.

Will you be as keen to post news of your big losses, or do you have selective memory?:p

Shatners_Bassoon

Erm you make me laugh, you told me not to ramp on this very thread and asked me about the downsides of this share. Pinch of salt springs to mind.

The SP was well under a quid yes when I wrote the following.

"Yes, put simply XEL has already achieved it's oil discovery which is the Bentley field. It has now secured a rig and will be spudding in the next few days. The aim is to drill and flow test the find and also determine how many bbls (barrels) of oil are in the well. The estimates are somewhere in the region of 886 Million bbls!

It's quite feasible that anyone investing right now could see 17 times their initial investment and the chance of success of the flow test and upgrade is aimed at around 90% and will cement Xcite’s place as the third biggest independent producer company active in the UK North Sea in terms of reserves.

Read the RPS report for potential upside and as always DYOR (Do your own research)"


To quote you.

"And the downside risks????"

To which I responded.

"The downside is the same as any of the AIM shares and that is that they are high risk but high reward. The oil is there, the chance of the flow test being good are 90% if this fails then unfortunately it might be the end of XEL as they are at the moment a one trick pony! "

You then post this, it doesn't sound like something a long term holder of XEL would post does it?

"You make it sound like it that an excellent flow-rate is beyond doubt. Clearly, it isn't. I guesstimate that it is somewhere between 70-85% (based on what I have read elsewhere). If the flow-rate is poor, then it could prove valueless."

CashStrappedTeen89

Gents lets not get heated in here, a profits a profit, lets all celebrate the fact XEL is about to break the £2.50 mark

blinko

this is BS i dont have any money and i am clerly getting in on a spike, yet the share is booming

imagine if the RNS is awful

most of the city is on this now

Shatners_Bassoon

Blinko that's the same with most shares, especially AIM, any delay announced and the short term traders will be taking a profit and looking for the next bis risers. I still see upside with this share even when news is announced and IF flow rates are good then the current SP will look pathetic.

I must admit thought it's hard not to sell at the current price but the patient are more often than not rewarded far greater than the impatient!!!

Good luck whatever you decide to do!

splatercash

In at £0.68, in even bigger at £1.36....holding tight, all or bust.

Go Xcite, go

spike87

I feel I should apologise for my previous comment on DES. I think I should have said "I am very glad I didn't follow tips and plough into DES before the massive drop."

However, I've been looking more and more into DES recently and at the current price I am actually thinking I may put a bit of money in and sit with fingers crossed. I have also looked at BMR which for some reason suffered quite a drop today after the RNS was released. Price there looks quite attractive too.

Shatners_Bassoon

Apology accepted

spike, I honestly think DES will come good. still a punt but more derisked now than ever with all the data they have gathered from Rachel1 and 2.

BMR had an RNS at about 1pm stating that there was a slight delay in the acquistion of the 4th tailings at Kabwe and the MM's thought "let's have a field day" I could see as soon as the RNs was released they dropped the price on a little number of sells. I hovered over the SELL button but BMR have so much potential, by the end of November, acqusition news should be out and boy will it be a party. 10-12p minimum imho.

blinko

i would avoid DES its not worth the risk ! look around there are less risky opps
if you do go in good luck

spike87

I keep reading stuff about DES and thinking I might put a small amount in, then I read something else and think I won't bother. I do think DES will do well, is it true that they actually know the oil is there? They just need to drill in the right place?