Welcome To the Xcite Energy Limited HUB On AGORACOM
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Message: Wouldn;t this be something if TRUE
Keeping fingers crossed , fater production and faster appraisal of other prospects, in other words faster Cash Flow. WOulld not be surprised if it is true, the BOD are on track and know how to increase shareholder value. Even at the presentation they said Stock price could be double or triple in the next 12-18 months, would be very surprised if we don't get bought out by then but i am now revising my target to exit upwards
http://contrarianinvestoruk.blogspot.com/2011/01/is-rowan-stavanger-reason-for-xcite-rig.html
Is the Rowan Stavanger the reason for Xcite rig signing delay?
I believe there is a strong chance that Xcite are currently negotiating to take the Rowan Stavanger which is built and ready to be deployed rather than the Rowan Norway rig which was due for completion in October 2011. This would then be potential reason for the Letter of Intent being pushed back another 2 weeks and for the comments from the Xcite management at the oilbarrel conference, "don't worry about the rig". Seems to make much more sense than the company being in takeover negotiations. Would be fantastic news - faster production or further well testing. The jigsaw puzzle looks to be coming together. Looking forward to tomorrow's share price action.
Rowan Stavanger loses job
The customer withdrew from the letter of intent.
Rowan Stavanger is now without a contract after an unnamed customer has chosen not to make use of a letter of intent. The reason given to be well-engineering problems.
Rowan Stavanger is one of three rigs Rowan gained control of the acquisition of Skeie Drilling, which had ordered three identical jack-up is.
The rig is ready for delivery in January and is listed as vacant in Rowan Companies fleet update.
The rig is ready for delivery in January and is listed as vacant in Rowan Companies fleet update.
The other two rigs, Rowan and Rowan Norway Viking, both have appointments in the UK respectively Xcite Energy and Total.
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