- Oil exploration and development compan focused on the North Sea on the United Kingdom Continental Shelf.
- In 2003, XER was awarded its 100% working interest in the Bentley field in Block 9/3b in the UK North Sea. All of the Company’s current material assets are held through XER.
- Since completing a private placing and dual listing in 2007 on the AIM and TSX markets (http://www.xcite-energy.com/docs/XEL%20Final%20AIM%20wrap.pdf), Xcite Energy’s sole focus has been advancing the Bentley Field towards development. Xcite believes that Bentley is one of the largest proven, undeveloped fields in the North Sea and is now focused on drilling pre-development well on the field. Xcite successfully drilled and flow tested the fifth well on Bentley (well 9/3b-5) at the start of 2008.
- Excitiing news yeterday - http://www.stockopedia.co.uk/news/announcement/XEL/090622xel003746.htm - that, after the re-interpretation of 3D seismic, the most likely Stock Tank Oil Initially In Place (‘STOIIP’) for the Most-Likely structure has increased to 689 MMbbls, with a range of 521 to 886 MMbbls for Down-Side and Up-Side structures, respectively.