| Type | Public |
|---|---|
| Traded as | TSX-V: XEL LSE: XEL |
| Industry | Oil and gas industry |
| Founded | 2004 |
| Headquarters | Tortola, British Virgin Islands |
| Key people | Richard Smith (CEO) |
| Total equity | £326.39 million |
Xcite Energy is a London Stock Exchange alternative investment market limited company (XEL.L). Xcite Energy is also listed on the TSX Venture Exchange (TSX-V: XEL). The company was formed by a group of seasoned oil industry professionals to bring the Bentley Heavy Oil Field in the North Sea into production by the end of 2011. The company was awarded Block 9/3b containing the Bentley Heavy Oil Field in 2003.
The company has formed partnerships called the Bentley Alliance.
The company is registered in the British Virgin Islands and has offices in Aberdeen, Scotland and Guildford, Surrey.
The company owns a 100% interest in the Bentley Heavy Oil Field. A Reserves Assessment Report has recently completed to evaluate the amount of oil recoverable in the first and second stage production areas and its net asset value.
The company has a market cap of 326.39 (GBP m). It has 163.2 million shares on issue at the moment.[1]