UK 19:04 Saturday, 17 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
The last time Xcite Energy (XEL) shares were at 66p was in July 2012. Then, there were 278million shares in issue, today there are 290million. At 74p, roughly £30million has been added to Xcite’s market cap, but the question now is does this represent the true value of progress this company has made in the last two years?
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Comments
Daniel Victor
Okay,but it’s not living up to its name……
Philip
Excellent appraisal ben with some realistic timeframes thrown in. Luckily I’ve been reducing my holding level prior to the RNS to buy into MMX. Will leave the rest for the giant to wake up as you say.
investor2010
Good article, Ben, apart from the fact that you are factually wrong to claim no one was led up the garden path here. I know you’re not invested in XEL and so you may not have researched thoroughly enough. Look into Charles Lucas-Clements’s comments at the 2011 Oilbarrel (there is no longer any risk, and this stock will double or triple in 12-18 months), and the 15 November 2011 RNS, where it was stated that financing and DECC approval were going well, whereas the secret addendum leaked a couple of weeks later showed both had been knocked back in October! (The addendum was dated in October).
Ben Turney
@DV no it isn’t, is it?
@ Philip, MMX isn’t one I’m familiar with, but will have a look.
@investor2010, no I wasn’t aware of that, but will definitely look into it. If what you say is true, it is exactly the sort of behaviour on AIM I can’t stand. However, I stand by my comment about this RNS. It struck a very credible and pragmatic tone.
investor2010
Yes, Ben, you’re right. The RNS was in some ways a breath of fresh air for adopting an honest tone. At least we know now – and by creating a buying opportunity, hopefully it can lure new interest in the stock.
Philip
Hi Ben, the following might make any research on MMX easier
http://m.youtube.com/watch?v=3t_5MYDw8Gc
More to the point and back on topic, the issue raised by investor2010 is a valid one for which lowly private investors have had no recourse.
We all welcome the transparency, if not the actual developments, in XEL’s latest RNS. However, I suspect many of us would now be more then pleased with a low ball takeover offer. It begs the question of whether the attitude of the management to retail investors has actually changed or the current transparency was ‘forced’ on them through having no other viable option but to come clean. How does that inspire confidence for the future in those at the top….?
Brenda_
What investor2010 wrote about CLC is true and explains what happened 4 years ago.
What about now? Xcite has few large investors – the only institutional holders acquired their stock in expensive financing deals, plus several directors had millions of shares as part of remuneration deals.
Most of the stock is in the hands of inexperienced small private investors.
The reason for the miserable SP performance in recent years is that a very determined, large gang of crooked share RAMPERS operate “PUMP AND DUMP” SCAMS via the iii, ADVFN, LSE etc. boards. The scammers all pretend to be LTHs and use dozens of aliases. They post lies non-stop, often pretending to speak with the company’s authorisation and inside knowledge.
If you oppose them, you are ridiculed, insulted, censored, complained about to abuse, banned and even impudently threatened with the FCA.
The net effect of these years of ramping deceit is that genuine investors are hugely disappointed that the events they were promised were imminent are still far off or uncertain or both, costs are much higher than claimed, and that concerns expressed by others (which were attacked and censored by the rampers) were well-founded.
The eventual bitter disappointment means they sell out. If one bought at the peak and sold recently, one would have lost 86p of every £ invested.
Jailing these rampers could mark the road to recovery.
The same rampers are threatening shareprophets as I write, and trying to incite others to sue.
I conclude from their rage that TW is doing an excellent job. Expose these liars – name and shame them too.
The Grinning Reaper
I am obliged to inform you that, seven weeks ago, the leader of the gang of crooks that had been ramping XEL (and before it MSMN, PET, CLON, ROSE, SRSP and dozens of other AIM shares, causing untold losses and misery to those she duped) on the AFN boards has been sent down.
Unfortunately, justice has been denied, as no court was involved.
But rest assured that the place to which it has been sent down is very, very hot.