who made that informed call i wonder!
Xcite Energy announces that its 100% subsidiary, Xcite Energy Resources Limited ("XER"), has cancelled its option for a jack-up drilling unit from British American Offshore Limited, a subsidiary of Rowan Companies, Inc. The rig contract was initially entered into in February 2011 and subsequently amended in February 2012 ahead of the pre-production extended well test on the Bentley field, which was completed in September 2012.
XER has been in constructive dialogue with other drilling rig providers to develop alternative commercial solutions, which potentially would deliver better strategic alignment and fit for purpose structures to reflect the amended Bentley field development programme. Consequently, Expressions of Interest have now been issued to a number of drilling rig providers to formally develop an optimised drilling solution for the Bentley field.
xel : now a 3 year min play - bottom draw they go - see you in 2017
And that's a good start. Now sit back and wait for the errata to come in the coming months
Oh dear - awful rns - major drop on its way - bottom draw and average down when it stops falling
and back to where we started - see you all for the same thing tomorrow
but at least i can say i have a part share in a big train set....free rides anyone?