With approx’ 140 million shares in issue city analysts expect XEL to begin an upward rise as the 60 day time frame for the drilling campaign progress’s to its ultimate goal. Investors should keep their focus on here as some believe that 60+ days is rather over-cooked. BP sources have briefed some in the market that news will be out BEFORE the stated time-frame. The probable outcome is that news on Bentley will begin to filter out much sooner than the company time scale. It’s known that XEL want to progress Bentley as quickly as is possible. A 200p target here before official news is in my opinion a realistic possibility bearing in mind that XEL are almost certain to announce very good results. Expectation will push this sp upwards as investors cotton on to why BP with other leading companies have joined XEL in the Bentley Alliance.
Currently there’s a school of thought here that this is a wholly under-valued stock which doesn’t reflect value vis-a-vis the BP involvement. Once the viability of the discovery begins to sink in some will have the mist cleared from their eyes as to why British Petroleum are heavily involved here!
This is a win situation developing which will almost certainly see a rising sp during the drill and on completion of drill.