Xcite Energy Share Discussion Threads

[hassani2] 28/9/2016 14:49

Don't worry consolidation coming soon,then a new slide on the ride

[ricardoskull] 28/9/2016 09:50

Not much left to short.

[o1dsmokie] 28/9/2016 09:33

When is the ex-D day?

[rojer108] 28/9/2016 09:23

She's gonna blow? 150p?

[hippety hopper] 28/9/2016 09:15

LALA would rise from her grave to haunt Cole and her scammer friend from Aberdeen. All those inside infos.

[11_percent] 27/9/2016 22:05

"slugs"

Steady, old boy.....you are slugs a bad name.

[brad44] 27/9/2016 21:21

anybody remember rupert cole at the last meeting saying judge me on my last deal..judge jury and...

form a queue at the guildford office

[rojer108] 27/9/2016 17:55

When is the farm in?

[ramas] 27/9/2016 17:54

Back in the day when peeps wanted to buy XEL the bod wuz greedy and devised a cunning poison pill plan , unfortunately they wuz wrong .... My bet is the oil is never extracted , solar rules but no one knows it yet except the tekkies ...

[stonefold] 27/9/2016 16:38

If the debt gets converted to new shares at the rate of 0.56 pence per new share.
Then the (former debt holder)= new major share holder 98.5%, could make a mandatory offer for the remaining 1.5% of shares. That offer would be at the highest price paid in the last 12 months = 0.56 pence per share.
--
Shares now in issue ?
309,930,421 (will become 1.5% of total to be issued)

Approx number of new shares to be issued to replace Bonds)
20,352,097,645 (will become 98.5 % of total issued)

Approx Total shares following debt restructuring.
20,662,028,066

Value of bonds $149 million

£ $ exchange rate 1.2967

Value of bonds £ 114,907,071

---

[Value of bonds £] £ 114,907,071

divided by

[number of new shares to replace bonds] 20,352,097,645

Equals

[conversion value per share £] £0.00564595718 ( = 0.56 pence )

Ignoring the additional shares that may be issued to raise $10 million for running costs.

The new major share holder could choose to be generous, and waive their rights to gain 100% control of the company by immediately selling sufficient shares to ensure a large enough free float of shares exists. But it would IMO be more likely to be tidied up, 100% controlled by one share holder, de-listed and then sold on to a new owner.

[pembury] 27/9/2016 16:26

true. just hope enq aint next and others with massive debt they can't service!
trend starting here with bh's

[leedskier] 27/9/2016 15:36

Worse than GKP. At least GKP is producing and has income and a bidder would not have to find in excess of a £billion for capex.

[pembury] 27/9/2016 15:30

equity screwed here like gkp

[11_percent] 27/9/2016 15:22

In order to conclude discussions with Bondholders and to hold the Shareholder EGM, the Company has requested a further short-term extension to the maturity date of the Bonds to the earlier of (i) 31 October 2016; or (ii) immediate demand by the bond trustee (acting on the instructions of Bondholders). The summons to Bondholders in relation to the further extension of the Bonds' maturity date can be found on the Xcite Energy Resources plc section of the Company's website www.xcite-energy.com.

===============

(ii) immediate demand by the bond trustee (acting on the instructions of Bondholders).

The guys in Oslo are trustees, they do not own the bonds.

You do not even know who runs this company, and it sure as hell aint RC.

Having said that, I suspect RC will fade into the sunset now.

[11_percent] 27/9/2016 15:15

leeds,

Good grief, you are strating to catch on.

[11_percent] 27/9/2016 15:13

Hyvast,

You are an idiot.

[leedskier] 27/9/2016 15:01

There are 267.3 million barrels of P2 resources.

At just $1 barrel for the P2 (ignore the rest), less the sum owed to the BH is 267.3 less 149 = 118.

118 divided by the shares in issue 310 = US cents 38 per share.

Current USD/GBP FX converts to 29.26 pence per share.

If the BoD cannot sell XEL for $1 a P2 barrel before the end of October, they are screwing it for salary or are just wholly incompetent or both,or the oil is so heavy as to be of no value.

Unlike GKP, this Company has no income nor any prospect of income. Disposal is the only way investors will ever see any return above that currently offered by the market. Dilution on the basis indicated today is a wipe out.

[hyvast] 27/9/2016 14:56

if they sell it they will want to make big time money from the sale

its in their interest to keep the company going and to improve their chances of making
a lucrative return


it's a gamble for the brave

[11_percent] 27/9/2016 14:49

They get 98.5% of Bently, what do they do with it.

My guess, is sell to STL.