XEL Shares?

slbs2009

Who would recommened buying? Currently around the 362 mark?

neilsedaka

Yes, recommended buy. Reasonably safe and great potential. Don't think they will dip below the 350s/360s.

chris_m

From yesterday's RNS;

Xcite Energy is pleased to announce that its 100% subsidiary, Xcite Energy Resources Limited ("XER"), has entered into a binding drilling contract with British American Offshore Limited("BAOL"), part of Rowan Companies, Inc. for the N-Class "Rowan Norway", a harsh environment, deep water jack-up unit, designed and built for simultaneous drilling and production, which is currently under construction.

The Rowan Norway is expected to be used to commence the first stage production of the Bentley field, the planning for which is currently being undertaken. XER expects the Rowan Norway to be made available in the fourth quarter of 2011.

They'd hardly have done that it it wasn't likely to give a return.

slbs2009

Thank you for the replies, currently at 355 so i think the time is to buy

mr_fishbulb

Buzza2009 wrote: »

Thank you for the replies, currently at 355 so i think the time is to buy

Why do you think that? It's been falling all day (down over 3%) and it's only a couple of pennies shy of the lowest price so far this year.

What do you know that the market doesn't?

cashbackproblems

Id look at RRL/SXX pretty safe bets even at these levels.

AIM stock fluctuates daily, a 3% up/down is nothing.

neilsedaka

mr_fishbulb wrote: »

Why do you think that? It's been falling all day (down over 3%) and it's only a couple of pennies shy of the lowest price so far this year.

What do you know that the market doesn't?

It is simple logic to buy low and sell high, not the other way round, so buying now is indeed an excellent strategy.

mr_fishbulb

neilsedaka wrote: »

It is simple logic to buy low and sell high, not the other way round, so buying now is indeed an excellent strategy.

Only if you know it's going to go back up.

m0n3y_3

Buy low and sell high strategy is easy (if you can see into the future that is), otherwise of course it is quite difficult even if the share is "ranging"

funscott

been in xel for a few months (started bying at 117p) averaging 238p. I havent traded these as im in for the next 12 months. so if you can take 429 to 250p swings (was a once off) then you have the ba$$s. having said that after the flow test everything is now safe. this share will bounce around 360 - 390 for the next week there is loads of support at 355. then start to build to 410 for the cpr upgrade at the end of the month (first week in march) then its most likely taking off into orbit (550 - 600). I still wont be selling as they are going into production by the end of the year or be taken out by a bigger company. I am waiting for share prices in their teens.

mark13

Back in XEL @ 361 as well.