Xcite Energy is a heavy oil company focused on the development of discovered resources in the United Kingdom North Sea. The Company holds a 100% working interest in Block 9/3b, which contains the Bentley field in its entirety, one of the largest proven, but undeveloped heavy oil fields in the United Kingdom North Sea. Xcite Energy is listed on the AIM Market of the London Stock Exchange and the TSX Venture Exchange. The Company announces its financial results for the 3 month period ended March 31, 2009.
Richard Smith, Xcite Energy Chief Executive Officer, commented: "Following the release of the new Competent Person's Report in February, the first quarter of 2009 has provided further confirmation of the recoverable resources in the Bentley field through the re-interpretation work on the 3D seismic data. The details of this will be announced in due course. As we finalise the design and objectives of the next work program intervention on Bentley, the market sentiment is viewed by some commentators as more encouraging. The Bentley field we believe, as one of the largest proven, but undeveloped fields in the North Sea, is well placed to attract appropriate interest from industry and financial partners seeking significant value uplift."
Most Popular Articles
From the Career Center
Jobs that may interest you