Xcite Energy Share Discussion Threads

[mikepage19] 06/11/2014 20:47

You may recall earlier this year I asked the question regarding page 20.
The diagram clearly shows future gas import. Well now we know-


From LSE-

News just in on the latest Mou just signed by Xcite with Statoil and Enquest.

All of them. Mariner, Brassey, Kraken and Bentley where going to need to import gas. Unlike Bentley, Kraken had no access to gas and faced ether making a connection to Vesterled Tee some 34km away. Statoil 's Mariner / Bressay had plans to import from the Vesterled Tee pipeline. Enquest had, prior to approval of Kraken discussed the potential making a gas import connection with Statoil. See 2-9 Enquest ES 2013 .


The Bentley plan was initially to use the north Bentley gas cap and then import gas. Steve Kew pointed at the AGM in Dublin some years ago .The hope was by the time the cap depleted they would import from around the area. This MOU would now suggest it's clear that with Brassay now on hold Enquest has agreed to link to Mariner as Statoil seems to be cracking on and starting the gas import line next year.
hxxp://www.subsea7.com/content/dam/subsea7/documents/whatwedo/projects/northseaandcanada/Statoil%20Mariner-Reference.pdf

Had agreement not been made this import line would have stopped at Mariner now that Brassay had been shelved. However resent activity of survey vessels in the north sea would suggest they plan to extend the pipeline towards Kraken.

Someone (Statoil,Enquest or Xcite) was going to have to bring in a gas link to the area. Xcite must now be sure the gas import will be in place at Kraken. Having now signed an MOU with Statoil , Enquest. This I expect will remove the need to drill the gas well in the Xcite FDP. Xcite must be thanking their lucky stars they had the gas cap and could wait this one out as this could potentially save Xcite Million's in moving rig and drilling costs. Thank also for the wood review and new era of cooperation in the NS. As this demonstrates why it was needed and the costs it could save. Without it all of them could have had to make a 34/40km individual link just to import gas.

[mikepage19] 06/11/2014 20:34

Date-------------Broker---------Rating--Old Target------New Target-----Change
06-Nov-14------Liberum Capital--Buy-------263.0----------199.00-------Reiteration

Brent Oil price now priced in.

[pensioner2] 06/11/2014 18:46

It's too early to say whether XEL have any blocks in the current round as there are some more to be announced later, according to that DECC piece. But, as others have said, I would prefer they got on with what we have, unless there could be some more synergies in blocks very close to what we have.

[mclellan] 06/11/2014 18:41

No sign of XEL on here

[mclellan] 06/11/2014 17:42

jcd- no problem
It is just one of ADVFN's little snipes at non-blue posters that it scrambles their links.
XEL could do with dealing with the LAST licensing round areas so I agree with you.

[irnbru2] 06/11/2014 17:39

In case you missed it.

Scams have a time line.

[irnbru2] 06/11/2014 17:38

Carla,

I need help.

Do you think, the Rig/china, is a scam.

Come back.

[jcd1972] 06/11/2014 17:37

mclellan - thanks re formatting. According to other posters elsewhere XEL didn't get any new acreage. i think after all these years we'd prefer them to focus on what they have and hopefully get bought up as part of a Statoil hub.

[arlington chetwynd talbot] 06/11/2014 17:36

The bulk has gone... and yes... any hope?

Maybe.



hic!!!!!

[irnbru2] 06/11/2014 17:36

Carla.

No one is rattled.

[pensioner2] 06/11/2014 17:36

We'll find out first thing in the morning mc. Statoil look as though they jumped the gun a bit. Interesting their new CEO is ex-BG, just like the new regulator. Are they mates - or sworn enemies?

[mclellan] 06/11/2014 17:30

So did XEL get any new acreage in that Licencing round?

[pensioner2] 06/11/2014 17:28

Right. We're off. New boss and licensing round announced.

[carla1] 06/11/2014 17:23

Oh the ZOO is rattled and a nice Rush into the Close :-)

tomorrow ????

Good luck all longs

[irnbru2] 06/11/2014 17:23

Arlington Chetwynd Talbot   6 Nov'14 - 17:15 - 48978 of 48980   0 0

No it was Aberdeen's lads, down Millwall... erm ;(
---

My (Arli tell the IT guy) perspective is not that.
----

XER share price = zero.

Too any scammers.

[mclellan] 06/11/2014 17:22

jcd- I'll re-format that.

[arlington chetwynd talbot] 06/11/2014 17:21

Did us bud, we had a few lads, but they smacked us... back in the day

[technocat] 06/11/2014 17:19

News report released on Statoil at 16.03, home page ADVFM - can't post link. Interesting reading

"Statoil said 11 of its licenses are in the North Sea and one West of Hebrides. The acreage covered an area of almost 8,000 square kilometers, including some in mature parts of the central North Sea and near Statoil's existing heavy oil projects Mariner and Bressay.

"This is in line with Statoil's exploration strategy of taking large, untested acreage positions and deepening existing core areas," said Mr. Vågnes.

Statoil said it plans to drill two exploration wells next year in areas it got in the previous U.K. licensing round, and that it sees potential for more drilling from this round.

The company said it continues the development of the Mariner heavy oil field, which is planned to start producing in 2017. The concept of the Bressay project is still under evaluation.

The U.K. Thursday asked the oil industry to contribute ideas on how to implement the recommendations made in the Wood Review, which evaluated the country's oil sector and its regulation, and proposed a new regulator."

[irnbru2] 06/11/2014 17:18

Heavy oil, was looking good....why do I bother.

No worries.

[arlington chetwynd talbot] 06/11/2014 17:15

No it was Aberdeen's lads, down Millwall... erm ;(