The Company, through its wholly owned subsidiary, Xcite Energy Resources Limited (“XER”), is an oil exploration and development company, which is focused on the exploration and development of heavy oil resources in the North Sea on the United Kingdom Continental Shelf.
In 2003, XER was awarded its 100% working interest in the Bentley field in Block 9/3b in the UK North Sea. All of the Company’s current material assets are held through XER.
Xcite Energy Bentley North sea oil field could be a “two billion dollar asset prize”
Monday, July 26, 2010
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.
No investment advice
The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.
You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.
From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.
