xel dropping slowly, was the 333 the peak ?

see that they cannot do the flow test untill weather better.

MT, did you not listen to me the last time?

Do not pay any attention of the day to day prices. They go up and down all the time. You should not be attempting to trade them unless you know what you are doing.

The title of this thread clearly states "3 months". If you weren't willing to hold for that time then you shouldn't have been investing in the first place.

If you believe the underlying fundamentals to be true, then you should be loading up on more shares on any significant dips. So yes, buy more, don't sell.

This site seems pretty good for the basics: http://www.investopedia.com/university/stockpicking/default.asp

I would definitely urge you to go for long term investments MT. I know you are a bit of a gambler at heart, so want the quick returns. Trust me though, you will come unstuck trying to do short term trades without putting much work in. Better to go for the long term stuff. You only have to put a bit of research in at the start, then just wait for the cash to roll in.

cheers whippet, I know I need to lose the gamblers instinct on this, was goint to set a small monthly sum to invest and build up some shares over time. I did only use money on xel I can afford to lose its been an experience.

One of the things I have looked at is buying shares in companies that are low but have traded higher, say for instance RBS that over 5 years has traded well over the 42p it now trades at, I know that its a gamble but long term the risk may pay off.

he means money tree

I am on it already. I seem to make more money from threads like this on betfair, than sports betting or playing poker!

Another drop today on xel, do people know early about the flow test results?

Drilling Results will be positive MT ;-}

Told you CAD has enormous potential:

http://ukrainian-energy.com/articles/market_comments/172/

more big drops in xel, well done anyone who got out at the 330's

Around £3.15 now, maybe you should sell up now MONEY TREE? Saving you being so nervous in the future.

Where did you get that price from? it closed higher than that?

The problem with punting on oil minnows which are N Sea is that any uncertainty in their value coming from the reserves is dwarfed by the uncertainty in their value from the oil price.

Development costs in mature areas with infrastructure is probably around $50 - $60 per barrel, whereas in remoter parts in the Northern N Sea it might be as high as $80. Therefore the value of the companies varies hugely if the oil price is, say $70 or $100. So buying shares in the likes of XEL or Encore is mostly just a highly geared play on the price of crude.

If you want to take that uncertainty out of the equation you should be looking at Kurdistan (where there is political risk, but huge reserves), or Russia.

The price of oil is pulled downwards by the threat of recession but pulled up by a general demand for real assets rather than paper. The Korean thing probably pushes it up too. Overall I see the price moving up in the mid term, but I would not want to be exposed to the risk of it falling to say, $80 in the short term. Therefore I am mainly investing in the Kurdistan/Russia minnows and avoiding the N Sea for now.

Great news £5 today?



21 December 2010





Xcite Energy Limited

("Xcite Energy" or the "Company")



Successful Completion of 9/3b-6z Well Flow Test



The Company announces that the flow test of the 9/3b-6z horizontal well on the Bentley field has been successfully completed.



The flow rates achieved demonstrate both the commerciality of the Bentley field and the reservoir properties to be above the upper end of modelled expectations.



Key flow test results were:



·    Total flow test of 36 hours including clean-up of 9 hours, with cumulative production to tote tanks of over 2,000 barrels.



·    Multi-rate flow tests were conducted, culminating in a final stabilised flow rate of 2,900 stock tank barrels of oil per day.





Richard Smith, Chief Executive Officer of Xcite Energy, commented:

"This is an outstanding outcome for the Xcite team and for the industry contractors to deliver this successful well test on Bentley. This flow test fully demonstrates the commercial potential of the Bentley field and the long-held belief that Xcite has maintained in this major North Sea asset. We now move on to the first stage production planned for 2011 with an excellent platform."

HOLD

very good see hit 431 today nice one joey.

meaningless statement ^^^^^

These shares seem pretty volatile according to the posts on this thread. The potential profit might not be there in a few weeks/months time.

It doesn't matter if the potential profit disappears. When you are buying in you need to have a plan as to when you are going to sell. If you don't, then you shouldn't have been putting money in the first place. Where do you draw the line at selling up? Just pluck an arbitrary figure out of the air or when your horoscope tells you to?

The title of this thread clearly states a target price of 700p+ within 3 months. If you are going to follow the advice of a stranger, then at least follow his advice fully. Many people on here were panicking after 1 month when it dipped from 300->200p. Now people are saying to sell up at 430p?

Some of you would be way better off just gambling the money on a horse.

Sir Denis Eton-Hogg Date Joined: 16 Nov 08
When: 21 Dec 10 16:26 meaningless statement ^^^^^

If I am counting correctly, this was directed towards my post? Which, incidentally, was tongue in cheek as MT does seem, rather, what shall we say, twitchy to intraday price movements. Rather than risk some kind of stress related heart problem, bailing out might have been his best option!