Editor's Pick: Markets: The week that was (16-20/11/09)

(XEL.L) Xcite Energy Ltd Buy/Sell

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Summary

Current Market Information

Time: 06:04 (Market Closed)

Bid	41.00
Ask	42.00
Price	41.50
Previous	42.00
Change	-0.50 (-1.19%)
Last Trade	41.50 (16:30:10)
Trading Vol.	10,000
Today's High	41.00
Today's Low	40.50

52 Wk Low	1.50
52 Wk Low	(26/11/2008)
52 Wk High	45.56
52 Wk High	(11/11/2009)
52 Wk Change	+36.50
52 Wk Change	(+730.00%)
4 Wk Volume	472,715
ISIN Number	VGG9828A1194
Currency	GBX

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Recent News
Date/Time	Headline	Source
19-11-09	Xcite Energy Limited - 3rd Quarter Results	RNS
RNS Number : 7683C Xcite Energy Limited 19 November 2009 THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES TSX-V, LSE-AIM: XEL November 19, 2009 Xcite Energy Limited ("Xcite Energy" or the "Company") Financial Results for the 3 Month Period Ended September 30, 2009 Xcite Energy Limited, a developer of heavy oil assets in the UK North Sea, today announces its results for the 3 month period ended September 30, 2009. KEY HIGHLIGHTS FORMATION OF THE BENTLEY ALLIANCE (THE "ALLIANCE"), THE MANAGEMENT AND OPERATIONAL STRUCTURE CREATED BY XCITE ENERGY AS THE VEHICLE TO DIRECT THE BENTLEY FIELD TO FULL FIELD DEVELOPMENT. AGREEMENT REACHED WITH FUGRO WELL SERVICES LTD ("FUGRO") TO DRILL AND TEST THE FIRST DEVELOPMENT WELL ON THE BENTLEY FIELD, THE 9/3B-R WELL, ON A RISKED BASIS. FUGRO WILL BEAR A MATERIAL PERCENTAGE OF THE COST OF THE WELL AS THE FIRST ALLIANCE PARTNER. SUCCESSFUL FUND RAISING OF &POUND;2.1 MILLION GROSS (CAN$3.8 MILLION) IN EARLY OCTOBER FROM NEW AND EXISTING SHAREHOLDERS. DRILLING OF GEOTECHNICAL TEST WELL IN Q4 2009 TO CONFIRM USABILITY OF JACK-UP RIG. SIGNIFICANT PROGRESS MADE TO PLAN FOR AND ENGINEER THE 9/3B-R WELL IN Q1 2010. INTENTION TO SECURE ADDITIONAL ALLIANCE PARTNERS IN ADVANCE OF 9/3B-R WELL. Richard Smith, Xcite Energy Chief Executive Officer commented: "We are very pleased with the market's support for our recent fund raising and its positive reaction to the creation of the Bentley alliance with Fugro as the first partner. This represents a significant step forward in the development of the Company and in drilling the first development well in the Bentley field, planned to commence in the first quarter of 2010. This will be a watershed event for the Company and we look forward to continued support from shareholders in order to successfully pursue our strategy." The Company's Financial Results for the 3 Months Ended September 30, 2009 can be found at the following link: http://www.rns-pdf.londonstockexchange.com/rns/7683C_-2009-11-19.pdf</fi pP> ENQUIRIES: `Xcite Energy Limited +44 (0) 1330 826740` `Richard Smith Chief Executive Officer` `Rupert Cole Chief Financial Officer` `Strand Hanson Limited (Nomad) +44 (0) 20 7409 3494` `James Harris Director` `Rory Murphy Director` `Arbuthnot Securities Limited +44 (0)20 7012 2000` `(Broker) Director` Andrew Fairclough Ed Burbidge `Pelham Public Relations +44 (0) 20 7337 1500` `Mark Antelme Director` `Paradox Public Relations +1 514 341 0408` `Jean-Francois Meilleur Consultant` `Karl Mansour Consultant` Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements Certain statements contained in this announcement constitute forward-looking information within the meaning of securities laws. Forward-looking information may relate to the Company's future outlook and anticipated events or results and, in some cases, can be identified by terminology such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "target", "potential", "continue" or other similar expressions concerning matters that are not historical facts. These statements are based on certain factors and assumptions including expected growth, results of operations, performance and business prospects and opportunities. While the Company considers these assumptions to be reasonable based on information currently available to us, they may prove to be incorrect. Forward-looking information is also subject to certain factors, including risks and uncertainties that could cause actual results to differ materially from what we currently expect. These factors include changes in market and competition, governmental or regulatory developments and general economic conditions. Additional information identifying risks and uncertainties are contained in the Company's annual information form dated June 30, 2008 and in the annual Management's Discussion and Analysis for Xcite Energy dated March 26, 2009 filed with the Canadian securities regulatory authorities and available at www.sedar.com. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations. This information is provided by RNS The company news service from the London Stock Exchange END QRTEAEFNFLLNFFE More
28-10-09	Xcite Energy Limited - Change of Broker	RNS
RNS Number : 4446B Xcite Energy Limited 28 October 2009 THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES TSX-V, LSE-AIM: XEL 28th October 2009 Change of Broker Xcite Energy Limited, a developer of heavy oil assets in the UK North Sea, is pleased to announce the appointment of Arbuthnot Securities Limited ("Arbuthnot") as its broker with immediate effect. Commenting on the appointment, Richard Smith, Chief Executive said; "We are very pleased to have Arbuthnot as our new broker. We look forward to the continuing benefit of their significant expertise and support as we continue to create further shareholder value." ENQUIRIES: `Xcite Energy Limited +44 (0) 1330 826740` `Richard Smith Chief Executive Officer` `Rupert Cole Chief Financial Officer` `Strand Partners Limited +44 (0) 20 7409 3494` (Nomad) `James Harris Director` `Rory Murphy Director` `Arbuthnot Securities Limited +44 (0)20 7012 2000` `Andrew Fairclough Director` Ed Burbidge `Pelham Public Relations +44 (0) 20 7337 1500` `Mark Antelme Director` `Paradox Public Relations +1 514 341 0408` `Jean-Francois Meilleur Consultant` `Karl Mansour Consultant` Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements Certain statements contained in this announcement constitute forward-looking information within the meaning of securities laws. Forward-looking information may relate to the Company's future outlook and anticipated events or results and, in some cases, can be identified by terminology such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "target", "potential", "continue" or other similar expressions concerning matters that are not historical facts. These statements are based on certain factors and assumptions including expected growth, results of operations, performance and business prospects and opportunities. While the Company considers these assumptions to be reasonable based on information currently available to us, they may prove to be incorrect. Forward-looking information is also subject to certain factors, including risks and uncertainties that could cause actual results to differ materially from what we currently expect. These factors include risks associated with the oil and gas industry (including operational risks in exploration and development and uncertainties of estimates oil and gas potential properties), the risk of commodity price and foreign exchange rate fluctuations and the ability of Xcite Energy to secure financing. Additional information identifying risks and uncertainties are contained in the Company's annual information form dated June 30, 2008 and in the annual Management's Discussion and Analysis for Xcite Energy dated March 26, 2009 filed with the Canadian securities regulatory authorities and available at www.sedar.com. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations. This information is provided by RNS The company news service from the London Stock Exchange END APPBXBDGUBDGGCR More
23-10-09	Xcite Energy Limited - Holdings in Company	RNS
RNS Number : 2970B Xcite Energy Limited 23 October 2009 23 October 2009 Xcite Energy Limited ("Xcite" or the "Company") Holdings in Company Xcite has received notification that, following the disposal of its entire 7.5 per cent. holding in the issued share capital of Xcite, Altima Global Special Opportunities Master Fund Ltd, a controlled undertaking of Altima Global Special Opportunities Fund Limited, no longer holds any interest in the issued share capital of the Company. For further information: Xcite Energy Limited `Richard Smith Tel: +44(0)133 082 6740` Rupert Cole Strand Hanson Limited `James Harris Tel: +44(0)207 409 3494` `Rory Murphy Tel: +44(0)207 409 3494` Arbuthnot Securities Limited `Andrew Fairclough Tel: +44(0)207 012 2000` Ed Burbidge Pelham Public Relations `Mark Antelme Tel: +44(0)207 337 1500` This information is provided by RNS The company news service from the London Stock Exchange END HOLEAEEDADENFFE More
23-10-09	Xcite Energy Limited - Change of Name of Nominated Adviser	RNS
RNS Number : 2949B Xcite Energy Limited 23 October 2009 Xcite Energy Limited ("Company") Change of Name of Nominated Adviser The Company announces that Strand Partners Limited, the Company's Nominated Adviser, has changed its name to Strand Hanson Limited with immediate effect. For further information: Strand Hanson Limited `James Harris Tel: +44(0)207 409 3494` `Rory Murphy Tel: +44(0)207 409 3494` www.strandhanson.co.uk This information is provided by RNS The company news service from the London Stock Exchange END MSCBXLFLKBBLFBL More

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Date/Time	Subject	Author
Fri 00:51	BUY Write Up	Pro_S2009


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	http://www.proactiveinvestors.co.uk/companies/news/10391/xcite-energy-says-its-making-progress-towards-watershed-moment-as-it-prepares-for-first-development-well-in-north-sea-10391.html Thursday, November 19, 2009 Xcite Energy Says Its Making Progress Towards Watershed Moment As It Prepares For First Development Well In North Sea In its Q3 results statement, North Sea oil developer Xcite Energy Limited (AIM & TSX-V: XEL) said that its ‘Bentley Alliance’, will provide a watershed moment for the company as it begins the drilling of the first development well in the Bentley field in Q1 2010. In the three months ended 30th September 2009, the group has continued to make progress with the planning for the development of the Bentley oil field. Xcite said its emphasis during the last quarter was on securing field partners and setting up the Bentley Alliance. Xcite reached an agreement with Fugro Well Services Ltd to drill and test the first development well on the Bentley field, the 9/3b-R well, on a risked basis. Fugro will bear a material percentage of the cost of the well as the first Alliance partner. Expenditure in the quarter predominantly comprised the costs of study work and planning for the next stage in the development of the Bentley field, including the preparation for the drilling of a technical borehole on Bentley, which is scheduled to be conducted during Q4. The Bentley field is the company’s primary asset. In the period the company reported a loss of £249,000, slightly widening from Q2 due to charges for previously deferred tax payments. Also in the quarter Xcite successfully completed a fund raising of £2.1 million The funds will be used to secure the necessary industry partners and to further commercial arrangements in relation to the development of the Bentley field. Xcite said that it intends to pursue a number of commercial initiatives involving potential business partners and production sharing contractors to facilitate further work on the Bentley field. According to Xcite, Q4 is likely to be characterised by a low expenditure rate, with efforts focussed on advancing the concept of the Bentley Alliance and the completion of drilling the geotechnical test well. Xcite Energy CEO Richard Smith commented on the company’s progress: "We are very pleased with the market's support for our recent fund raising and its positive reaction to the creation of the Bentley alliance with Fugro as the first partner. This represents a significant step forward in the development of the company and in drilling the first development well in the Bentley field, planned to commence in the first quarter of 2010. This will be a watershed event for the company and we look forward to continued support from shareholders in order to successfully pursue our strategy." More \| View thread (1) \| Respond \| Login to Vote up \| Login to Vote down
06-11-09	BUY Write up in Shares Mag	Pro_S2009


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	Write up in this weeks "Shares Magazine" ".........At 34p North Sea-based heavy oil specialist Xcite Energy (XEL:AIM) is worth buying as it takes its Bentley field towards first production. The investment case for Xcite is rendered compelling by a comparison of its market valuation with the risked net present value (NPV) ascribed to Bentley by an independent audit carried out earlier this year. This suggested the asset is worth $546 million whereas Xcite is valued by the market at just $25 million. The group has secured a deal with drilling contractor Fugro, which as well as carrying out the work will also meet some of the costs of a horizontal production well planned for the first quarter of next year. The shares were sold off heavily at the end of last year as oil prices fell to $35 a barrel with the share price hitting a low of just 3.5p. Typically heavy oil, which is more expensive to produce than other types of crude, is considered to require a relatively high oil price. Fugro’s commitment is being made in return for a guarantee of future contracts on the project. This makes Xcite’s task easier although, with the cost of such a well standing at around $35 million, the group will also seek to raise cash from the equity markets and bring in another partner to the newly created Bentley Alliance to help fund the development. Shares says: Shares look undervalued given the estimated size of Bentley with the securing of funding a likely catalyst............." More \| View thread (1) \| Respond \| Login to Vote up \| Login to Vote down
05-11-09	Re: 13% rise in Canada	DHV


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	Indeed......nice today, I have a small speculative holding.....struggling to find a reason for this rise so interested to see what happens in next few days.... Any clues anyone? More \| View thread (2) \| Respond \| Login to Vote up \| Login to Vote down
05-11-09	BUY 13% rise in Canada	Pro_S2009


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	Very strong last night in Canada. More \| View thread (2) \| Respond \| Login to Vote up \| Login to Vote down

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