Xcite Energy Share Discussion Threads

[mclleland] 13/11/2014 15:57

Will the next scandal be about BBs being used by financial groups to try to manipulate share prices?


Lets hope not or I am for a stretch

[mclleland] 13/11/2014 15:56

OOOHH OOHHH OOHHHH!!!!!

Another banning, another orgasm.

OOOOOOO!!!!!!!!!!!!!!

[mclellan] 13/11/2014 15:34

Will the next scandal be about BBs being used by financial groups to try to manipulate share prices?

[mikepage19] 13/11/2014 15:24

Safe to say Bentley will be part of that 2040 supply.

[carla1] 13/11/2014 14:10

Look At the BUYING :-)

[carla1] 13/11/2014 14:04

And UP we Go.....

News LEAKING ???

They want it UP !!

[carla1] 13/11/2014 13:36

Afternoon all....


She about to BLOWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWW

Looking Lively :-)


Hold On TIGHT CAMMY

[mclellan] 13/11/2014 11:44

Roll on the MOU for the rig.

[mikepage19] 13/11/2014 11:04

I wonder where they got the phased, lower cost, development approach idea from?
Maybe we should adopt this idea. You're right, we did adopt that idea, since 2011 as a matter of fact!

Rockhopper Exploration plc

13 November 2014

Rockhopper Exploration PLC

("the Company" or "Rockhopper")

Sea Lion update

Rockhopper Exploration plc (AIM: RKH), the oil and gas exploration and production company with interests in the North Falkland Basin and the Mediterranean region, is pleased to provide the following update on its Falkland Islands assets.

Rockhopper and Premier Oil have agreed to adopt a phased, lower cost development solution for the Sea Lion field. Highlights of phased development concept:

-- Initial phase to commercialise approximately 160 mmbbls oil
-- Leased FPSO development concept targeting gross production plateau of 50,000 - 60,000 barrels oil per day

-- Costs to first oil on the initial phase estimated at less than $2 billion
-- Confirmation from Premier that a project of this size can be funded from existing facilities and cash flows and that a farm-out is no longer a pre-requisite to be able to sanction the project

-- Continuing to target first oil in 2019 following sanction in H1 2016
In light of the move to a phased development, Rockhopper and Premier have agreed the following amendments to their commercial arrangements (subject to documentation and internal approvals):

-- Rockhopper to access the full $48 million Exploration Carry for the 2015 drilling campaign
-- Rockhopper to contribute 40% of pre sanction costs, currently estimated at $100 million gross
-- Anticipated net cash outflow to Rockhopper for Falklands activities during 2015 remains in line with previous guidance at approximately US$ 50 - 70 million

-- Rockhopper to retain $337 million Development Carry for the initial phase; a further $337 million Development Carry deferred to the next phase of development

-- Existing Standby Finance arrangements to be simplified to a more traditional loan structure of up to $750 million from Premier. Rockhopper will continue to review alternative funding sources

-- Rockhopper remains fully financed through a combination of Development Carry and simplified loan from Premier

-- Revised commercial terms remain subject to documentation and respective board approvals
Further details of proposed phased Sea Lion development

The lower cost Initial Development Scheme is designed to target more than 50% of the resources contained within PL032 and is likely to focus those resources in the North East segment of the field. Subsequent phases of the development, which will require separate project sanction, will then target the remaining resources in PL032, the already discovered resources in PL004 and any potential additional resources discovered during the 2015 exploration campaign. Initial indications suggest that the concept is likely to consist of 10-15 wells in total. Production will be via an FPSO that is anticipated to be a leased facility and will target a gross production plateau of approximately 50,000 to 60,000 barrels per day in the initial phase. A further announcement will be made once the Initial Development Scheme is further advanced.

Sam Moody, Rockhopper Exploration's CEO commented:-

"We have worked closely with Premier Oil on a lower cost initial development scheme that allows us to move together towards project sanction that is not contingent on the involvement of a third party.

Overall, we are delighted with this revised approach as it materially reduces uncertainty of first-oil from Sea Lion, which we expect to be on production in 2019, as well as very significantly reduces the capex required to reach production.

The decision to adopt a phased FPSO development together with our high impact four well exploration campaign currently due to begin as early as March 2015, is an exciting development as we continue to grow the business for the long term"

[bena1] 13/11/2014 10:40

Hopefully here we put in a nice higher low to keep the chart momemtum looking good.

[mclellan] 13/11/2014 10:34

That looks a bit more cheerful, Ben

[bena1] 13/11/2014 10:25

Interesting move in the price. looks like our Bot is back, needed to move the price to get some volume going I think, it was pretty dead this morning.

[mikepage19] 13/11/2014 10:23

BUDAPEST--MOL Nyrt. (MOL.BU), a Hungary-based Central European oil and gas company has been offered four "highly prospective" licenses in the UK Continental Shelf after bidding in the UK's 28th Seaward Licensing Round, MOL announced in a stock exchange filing Thursday.

MAIN FACTS:

- If MOL accepts the licenses, it will become an operator in the North Sea

- All offered licenses have Drill or Drop well obligations and are located in the Central and Northern UK North Sea.

- MOL has focused on its strategic play knowledge and capabilities and will be seeking to further define and de-risk these latest license additions to its current UK portfolio of assets through quantified and technology driven exploration.

- MOL first acquired four offshore licenses in December 2013, followed by six further offshore license purchases in June this year.

- MOL opened up 0.3% in Thursday's trading at HUF11,920.

[mclellan] 13/11/2014 09:05

Trying to hold this down again, from the graph..re leedskier's comment the other day
edit: seems to have stopped

[mclellan] 13/11/2014 07:17

Hoaxes seem to abound these days.
Dirty players in evidence, manipulating

[oldsmokie] 12/11/2014 22:56

It's possible that some of our resident shorters were too busy with this today to be able to post here http://www.telegraph.co.uk/finance/markets/11226463/G4S-shares-knocked-by-elaborate-hoax-regarding-companys-finances.html

[arlington chetwynd talbot] 12/11/2014 22:44

Posts on here today = 14

mclellan: 8
mikepage19: 4
tipjunkie: 1
ShareTrojan: 1

Hmmm...

[mclellan] 12/11/2014 14:37

Many shares are red today.
Bentley Oil is still there, though.

[sharetrojan] 12/11/2014 13:43

A disappointing drop today. A lot of red on my oil stocks. Hopefully a blip on the way up.

[mclellan] 12/11/2014 12:12

Whatever- they are legally obliged to report

[mclellan] 12/11/2014 12:03

XEL have to report their Q3 Results by the end of November