Proactiveinvestors United Kingdom Xcite Energy articles

Xcite Energy says drilling is progressing satisfactorily - UPDATE

Tue, 08 May 2012 10:53:00 +0100

Xcite Energy this morning told investors that drilling operations are progressing satisfactorily. It also announced that it has now contracted a shuttle tanker and a pipeline for the start of the Bentley field’s production phase.

North Sea deal activity could boost Xcite Energy’s project funding plans

Fri, 27 Apr 2012 15:53:00 +0100

North Sea deal activity could help Xcite Energy pay for the Bentley oil field development as it seeks industry partners as one of the potential ways forward, with the help of City deal makers Rothschild and Jefferies.

Xcite Energy unveils funding strategy for entire Bentley development

Fri, 27 Apr 2012 07:05:00 +0100

Xcite requires around US$310 million to cover its development costs for 2013, so that it can kick start production as part of the Phase 1B programme. After that it is expected that the Bentley field will be producing enough oil so that the remaining development will be self-sustaining.

Xcite Energy updates on drilling and details testing plans

Thu, 19 Apr 2012 08:03:00 +0100

The current operation will facilitate a testing phase, including a 90 day production test starting later this quarter.

Xcite Energy shares rise as phase 1 of Bentley field development gets approval

Thu, 08 Mar 2012 15:06:00 +0000

Xcite shares advanced over 10 per cent this afternoon as it received its hotly anticipated approval for the first phase of the Bentley oilfield development.

Xcite Energy reserves upgrade confirms group’s expectations, says FD Cole

Mon, 20 Feb 2012 10:40:00 +0000

This morning Xcite upgraded the Bentley field’s reserves upgrade from 28 to 116 million barrels of oil. It addresses the shortfall, perceived by some investors, in reserves following last year's reserve report.

Xcite Energy upgrades Bentley field oil reserves to 116 mln barrels

Mon, 20 Feb 2012 07:23:00 +0000

Xcite Energy today unveiled a surprise upgrade to the Bentley field oil reserves as it increased proved and probable reserves from 28 to 116 million barrels of oil.

Xcite Energy shares rise as investors await Bentley start-up

Mon, 13 Feb 2012 14:20:00 +0000

It is believed that Xcite may be able to start work on the first development well on the Bentley oilfield at some point this month. However, before work can start, Xcite must receive approval from the British authorities.

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

Wed, 01 Feb 2012 12:41:00 +0000

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.

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

Wed, 01 Feb 2012 07:56:00 +0000

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.

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

Mon, 12 Dec 2011 13:34:00 +0000

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.

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

Mon, 12 Dec 2011 07:40:00 +0000

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.

Xcite Energy still a buy, according to broker Oriel Securities

Fri, 02 Dec 2011 13:03:00 +0000

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.

Xcite Energy: Changes to Bentley development plan are a positive step forward, says FD Cole

Thu, 01 Dec 2011 18:20:00 +0000

Xcite FD Rupert Cole said he understands that in isolation today’s statement has caused some investors to ask questions. But in the overall context of the Bentley development and the broader economic environment he beleives it is a positive step forward.

UPDATE: Xcite Energy reveals changes for a more financially efficient Bentley oilfield development

Thu, 01 Dec 2011 11:06:00 +0000

Xcite says it will still achieve first oil next year and the new plan provides a more financially efficient outcome.

Xcite Energy reveals changes for a more financially efficient Bentley oilfield development

Thu, 01 Dec 2011 07:52:00 +0000

The change comes in response to feedback on the group’s field development plan from the UK government’s Department of Energy and Climate Change (DECC). Xcite says it will still achieve first oil next year and the new plan provides a more financially efficient outcome.

Xcite Energy "making good progress" in agreeing a field development plan

Tue, 15 Nov 2011 07:38:00 +0000

Xcite Energy said today financing discussions are progressing “satisfactorily” as it revealed it is making “good progress” in agreeing a development plan for the Bentley field in the North Sea.

Xcite Energy takes another big step towards Bentley's oil production

Wed, 03 Aug 2011 13:59:00 +0100

The AIM-listed oil firm has now submitted the final draft of its field development plan for the Bentley heavy oilfield to the UK’s Department of Energy and Climate Change (DECC). Analysts reckon the oil field development could get approval in around three months.

North Sea oilfield developers boosted by new tax changes; Xcite Energy shares hit 247p

Tue, 05 Jul 2011 15:01:00 +0100

North Sea oilfield developers got a boost from the British taxman today. The Treasury is going to increase the annual rate of the ‘Ring Fence Expenditure Supplement’ (RFES) from 6 to 10 percent - which means that companies with insufficient taxable income will be able to increase the value of losses carried forward from one period to the next.

Xcite Energy shares show signs of recovery

Thu, 30 Jun 2011 13:56:00 +0100

Shares in the AIM-listed oilfield developer have gained around 50 percent since Tuesday. We look at some of the signs that are pointing to a recovery for the shares, including major share purchases by key directors.