RE-Posted! Due to the phenomenal success of this rising sp. Eyes on here for tomorrow.
Yes you get all the latest breaking news here on the Blog of all Blogs!
You’ll all remember Daniel informing the Blogosphere that Xcite should hit 200p this week? Well here we are ahead of schedule and why’s that? Well apparently there are several factors driving the sp.
Institutional buying. Yes Institutions are buying in here on expectation of a significant price correction! The latest company Epistle re’ the draw-down holds a significant clue as to where this stock is heading;
“Each share purchase warrant entitles Yorkville to subscribe for an additional share in the capital of the Company at a price of £3.62 (CAD$5.90) for a period of 24 months from the date of issue.”
Now if that is not confidence I don’t know what is!
Yorkville have a 24 month optional buy of XEL at £3.62 pence!
Rumours of oil flowing and being tested are driving the sp forward.
Now as stated several times in different XEL posts it is a given that they are already streets ahead not only on the drill side but on the forward planning side for Bentley production read the snippet below which I have Highlighted
“As stated in its press release of September 28, 2010, funding under the SEDA will be used as future working capital for the Company and to progress towards the first stage production of the Bentley field without delay”
I can’t emphasise this enough the company are informing the market that they are going into production (barring a North Sea tsunami!)
You have been informed many times by the Blog of all Blogs that XCITE’S partners BP etc are not there for altruistic reasons they are involved for financial gain.
If it’s good enough for BP then it’s good enough for me.
400/500p looks very likely here. A big spike is coming.
NB. “Something for the weekend Sir?”
AND Another thing!!! Forget ARBUTHNOT’S Latest sp target it is nonsense! What’s the betting that they up-grade it significantly?