Xcite Energy; farm-in agreement a sign of desperate times.

Shares in Xcite Energy (XEL) are up 6.25% this morning on news of the company’s farm-in with Azinor Catalyst Limited. Under the terms of the deal, Azinor has the opportunity to earn into the UK Continental Shelf (UKCS) Licence P.1979, held by Xcite’s subsidiary Xcite Energy Resources. In return for completing a technical evaluation and then possibly an Induced Polarization survey of P.1979, Azinor could receive as much as 50% of the licence’s equity. On the face of it this looks like decent enough news for Xcite. The deal should enable progress at this non-core asset, allowing the company to focus on its flagship Bentley project. However, Xcite is giving up a significant proportion of P.1979 in return. The question now is, can this deal deliver value to shareholders?

Xcite Energy (#XEL) - Farm-in with Azinor Catalyst for UKCS Licence P.1979

Zak Mir's Great Request Show: First Quantum, Kromek, Xcite Energy

If you want me to analyse a stock for you just drop me a line at sqmir@hotmail.com - Today I look at shares of First Quantum (FQM), Kromek (KNK), Xcite Energy (XEL)  and offer some share price targets.

Xcite Energy (#XEL) - Voluntarily delists from Toronto Venture Exchange

Zak Mir's Great Request Show: Aminex, Ithaca Energy, Xcite Energy

If you want me to analyse a stock for you just drop me a line at sqmir@hotmail.com - Today I look at shares of Aminex (AEX), Ithaca Energy (IAE), Xcite Energy (XEL) and offer some share price targets.

Xcite Energy (#XEL) - $34.4million cash balance at the end of June

Zak Mir's Great Request Show: Amara Mining, Hurricane Energy, Xcite Energy

If you want me to analyse a stock for you just drop me a line at sqmir@hotmail.com - Today I look at the shares of Amara Mining (AMA), Hurricane Energy (HUR), Xcite Energy (XEL) and offer some share price targets.

Something for Xcite Energy to think about

I gave a presentation at a conference in Aberdeen last week on how steaming could boost returns offshore UK. One of the companies where this clearly applies is Xcite Energy (XEL) with its Bentley Field.

Zak Mir's Bear Stock Of The Day: Xcite Energy 200 Day Moving Average Failure Could Lead To Fresh Lows

Given the solid looking recovery on the daily chart for shares of Xcite Energy towards the end of April in the wake of the break above the 50 day moving average then towards 30p, it can be said that disappointment is in the air as far as those who were looking for a lasting recovery here. 

Directors at the trough; Xcite Energy

It was very disappointing to read about Xcite Energy’s (XEL) options award this morning. In total the company has awarded 6.7million options, with an exercise price of £0.64 (yesterday’s close), to various members of staff and the board. The bulk of these options go to employees and there shouldn’t be many concerns about this. I appreciate the need to keep the troops happy and to retain key players. Giving employees a sense of ownership in the business has to be positive. However, the 2.65million options the directors have awarded themselves are in extremely poor taste. Broadly speaking, I’ve become a fan of Xcite’s over the last four or five months, but I’m under no illusions that recent performance can yet be judged a success. The new strategy is risky and so far, judging by the share price, the market is not convinced. Xcite’s board is in serious need of a credibility overhaul. Today, it has, rather unfortunately, thrown away an excellent opportunity to demonstrate its contrition for not securing a farm-out and genuine commitment to building future shareholder value. 

Xcite Energy; well worth another look

The time to buy AIM oil shares is when nothing seems to be happening, especially if you’re taking a longer term view and not just looking for a quick buck. Xcite Energy (XEL) is certainly a company that applies to and you could be forgiven for thinking that it is trying to bore its investors into submission, given the rate of progress being made.

Xcite Energy at 63p worth 146p – Edison

Commissioned researcher Edison has published a new report in the wake of the $140 million funding package secured by Xcite Energy (XEL). It reckons that the shares, now 63p, are worth 146p.

Xcite Energy; extremely expensive funding warns of trouble ahead

It is very difficult to put much of a positive spin on today’s bond issue and placement by Xcite Energy (XEL). The funding is extremely expensive, the terms Xcite has entered into are worse than those it previously had and it looks like at least one of the company’s major funders has decided not to continue backing it. This is all bad news for Xcite’s new strategy to commercialise its North Sea Bentley oil field, as the market appears to have priced this project for likely failure. There are a couple of faint glimpses of hope, but I now have to revisit my call to buy this stock, from just over a fortnight ago.

Six reasons to buy Xcite Energy

The more I’ve looked at Xcite Energy (XEL) recently the more I’ve liked this stock. Last week, I wrote an initial positive response to the company’s AGM presentation. Since then, I’ve watched the share price bump along around the 70p mark. Ideally I am hoping for a sub-65p entry level, but I might be pushing my luck with this. Notwithstanding a market wide retreat, it looks like a base is forming, as investors digest details of the company’s new strategy to commercialise Bentley. 

Xcite Energy: more and more attractive

My recent commentary on Xcite Energy (XEL) has put me at odds with some of my colleagues here at ShareProphets. Despite what many of our faceless critics have to say, one thing I love about working with this company is that we support genuine debate. We don’t impose myopic, rigid editorial positions and we recognise it takes opposing views to make a market. Above all, we encourage our contributors to write what they genuinely believe. In the case of Xcite, the more I read about and research the path this company is now on, the more bullish I feel about its future. 

Xcite Energy; reason to get excited?

The rapture that has greeted Xcite Energy’s (XEL) announcement this morning is not too surprising. Release an RNS mentioning Shell and Statoil in the headline and this is bound to get a lot of people salivating at the prospect of that long waited for, yet ever illusive, takeover/farm in. The 20% jump in Xcite’s share price, in the first hour or so of trading, confirms the appetite that still remains for this recently beleaguered stock. But is this enthusiasm misplaced?

Xcite Energy; signs of life from the sleeping giant

Two weeks ago, my colleague Red Evans wrote this speculative piece wondering whether or not Xcite Energy (XEL) stood to lose everything as a result of the Wood Review into North Sea Oil. At the time, I thought Red’s conclusion missed the point of Xcite’s recent shift in strategy. The company clearly laid out a new plan for developing Bentley and the signs in April suggest it means to carry this out. And quickly.

Xcite Energy – it could lose everything

Recently we have seen the value of Xcite Energy (XEL) plummet by 30% with the release of its annual report, a document which clearly flies in the face of what was set out in the UK government’s recent Wood Review. 

Xcite Energy: the sleeping giant continues to snore

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?

Xcite Energy Benefit Of The Doubt While Above 100p Zone

Fiddly, is probably the best description of the price action at Xcite Energy (XEL) in the recent past, with little in the near-term for most traders to go on apart from a likely Bull flag at and just below the 100p level.