Xcite Energy

• 03/02/12

  Amendment to Rowan Rig Contract

• 01/02/12

  Exercise of Share Warrants

• 01/02/12

  Additional Listing and Total Voting Rights

• 01/02/12

  DECC Approval Process Update

• 30/01/12

  Drawdown on Equity Credit Facility

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  01/02/12

  DECC confirms its support of Xcite Energy’s Bentley oilfield development - UPDATE

  Xcite expects the DECC to approve phase 1 of the development in the near future. It will then be able to start work in sufficient time to achieve first oil in the first half of the year.
• 

  01/02/12

  DECC confirms its support of Xcite Energy’s Bentley oilfield development

  Xcite expects the DECC to approve phase 1 of the development in the near future. It will then be able to start work in sufficient time to achieve first oil in the first half of the year.

• 

  12/12/11

  Xcite says development plan changes a more "financially efficient" way of unlocking Bentley's value

  Xcite Energy said the changes to its field development plan provide a “viable and more financially efficient” means of commercialising the Bentley North Sea oil field.

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  12/12/11

  Xcite says development plan changes a more "financially efficient" way of unlocking Bentley's value

  Xcite Energy said the changes to its field development plan provide a “viable and more financially efficient” means of commercialising the Bentley North Sea oil field.

• 

  02/12/11

  Xcite Energy still a buy, according to broker Oriel Securities

  The broker says that trading is likely to remain volatile until the development plan is approved by the UK government's Department of Energy and Climate Change and visible financing is in place.

• 03/02/12

  Xcite Energy announces changes to rig contract for Bentley development

• 30/01/12

  Xcite Energy draws down £3.537 mln on Esousa equity line

• 16/12/11

  Xcite Energy makes new funding arrangements totaling £85 mln

• 14/12/11

  Xcite Energy secures storage and offtake/shuttle tanker for Bentley oil field

• 05/12/11

  Xcite Energy says Bentley rig now on hire; deployment scheduled for next February

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  11/04/2011

  Stocktube video - Rupert Cole at Xcite Energy says it’s almost set for first stage production

  Rupert Cole, CFO at Xcite Energy (LON:XEL), tells Proactive Investors that the company aims to have the reserves report ready by Easter with a view to go for a first stage production in a small part of the Bentley field to move Xcite into revenue.
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  04/03/2011

  Stocktube video - Rupert Cole of Xcite Energy believes there’s still significant upside on asset value

  Rupert Cole, Chief Financial Officer at Xcite Energy, tells Proactive Investors that the company is creating a new reserves assessment report and he clarifies some of the misconceptions that have built up around suggestions the company has withheld a previously undertaken assessment. Rupert also explains the belief that there’s still significant upside for shareholders on the asset value in the Bentley oilfield.(LON:XEL)
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  26/07/2010

  Stocktube video - Xcite Energy Bentley North sea oil field could be a “two billion dollar asset prize”

  Rupert Cole confirms that the Bentley North Sea oil field has 3 value creation points with major announcements due in late October or early November. Xcite Energy has BP as a significant partner in the field but says their arrangements are not under threat despite BP’s current issues. With a share price around 60p Cole says the Bentley field assets are significantly undervalued. Cole expands on the early production system of 15,000 bopd ramping up to 60,000 - 80,000 bopd in future years.
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  14/05/2009

  Xcite Energy One2One Investor Presentation 14 May 2009 (PDF)

  Rupert Cole of Xcite Energy updates investors at the Proactiveinvestors One2One Forum on 14 May 2009

The Group intends initially to evaluate and develop the identified heavy oil discoveries in the Bentley field, to be complemented by appraising and exploring the identified prospects and leads on the block. The Group will also pursue potential acquisition opportunities and participate in future UK offshore licensing rounds to become a significant independent heavy oil producer in the North Sea by 2014.

Block 9/3b, Bentley Field

XER are 100% owner and operator of Block 9/3b, licence P.1078, containing the Bentley Field in its entirety. The block, which was awarded to XER in 2003 as part of the 21st UK Offshore Licensing Round, is located 160 km east of the Shetland Isles in 113 m of water. 

In January 2008, XER successfully operated the drilling and testing of the 9/3b-5 well in the central area of the field. The well achieved its primary objectives of (i) sampling the Bentley oil by way of a drill stem test (DST), (ii) confirming the excellent reservoir characteristics and continuity of the Bentley reservoir, and (iii) enabling potential flow rates under development conditions to be established through modelling and by analogy to the nearby Bressay field, 6 km to the northwest. The Bressay field achieved stabilised, vertical well flow rates in excess of 3,100 bopd from similar reservoir and oil type. (READ MORE)

Roger S. Ramshaw - Chairman & Director      
   
Gregory J. Moroney - Director      
   
Scott R. Cochlan - Partner at the Canadian law firm of Blakes, Cassels & Graydon LLP
   
Timothy S. Jones - Chartered Accountant     
   
Richard E. Smith - CEO and Director      
   
Rupert E. Cole - Chief Financial Officer and Director      
   
Stephen A. Kew - Exploration and Development Director

For further information on Xcite's directors click here

For information on Xcite's management team click here

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