Hot Stocks: a buzz around Xcite Energy

funny how your story only includes a negative broker, there were 2 other brokers who gave the stock 2.50 and 2.70 pound targets

The Numismatic note was written prior to the reserves upgrade which they mistakenly believed might not happen until much later.

Agreed Ben, very poor journalism shown by Ms Barr in this article.

Another classic case Of pis being one step ahead of the city and brokers notes scramble to downplay the upgrade to manipulate the price in the hope they can get their clients in at a lower price. Slowly but surely brokers are losing the upperhand.

Hi readers and thanks for your comments.

@Ben @Joe T Just to clarify the note from Numis quoted in the article was published in response to the upgraded reserves on Feb 20.

And @uparse, you're right, there was another note from Seymour Pierce placing a target price on Xcite at 242p on Feb 13, however this was before the reserves were upgraded.

I agree, very poor journalism. It appears to be a case of just writing for writings sake. I believe this is a classic case of the Financial Media attempting to create a story where no real story exists. It is pure conjecture to try and predict the future and it should be made plain that it is a prediction as in this case, the volumes are based on a short term snap shot, and I see no evidence of any real analysis based on trend, meaningful indicators, company strategy, or bigplayer market action. This is all about a story based on the fact that a few trades went through a particular trading platform, with no real evidence of proper research, no mention of volumes traded in the market and the unwritten truth that the journalist probably just doesn't know but wont admit it.

As for the brokerage houses, you only have to see the wretched downgrades and opinions continually spewed out as exampled in the case of RWD:LN which completely ignored a sizeable stake building by Mueller, and had the average Joe listened to the "advice" being metered out by these so called experts, then they would have missed out on an excellent investment opportunity.

the reserves upgrade is only the begining .true there are substantial technical difficulties but the resolve and the ability is there. I hate this manipulation of news and alsio price, I will just hold on to my shares.

Which of the following companies is most qualified to comment on whether Bentley is commercially or technically viable?

XEL, BP, Statoil, Amec, Schlumberger, TRACS, NUMIS Brokers.

Easy eh. 2900 barrels per day stabilised a year ago. Phase 1a and a sizable chunk of 1b fully funded. TRACS the independent assessor of reserves has stated on more than one occasion that the project is 100% technically de-risked.

Now, let's say NUMIS has a large institution wanting to invest in XEL big time, but NUMIS doesn't have enough shares to fill the II buy order. So, how do they get more XEL shares??? mmmm????

@ mr barr

Unfortunately I have to agree with the poster who claimed that you chose to ignore positive broker notes in order the concentrate on the fairly negative Numis note.

Other Broker valuations you could have used, had you been objective in your article:

Morgan 270p target (20 feb) OVERWEIGHT

Seymore Price 242p target (17 feb) BUY

Oriel (20 feb) BUY

Evo 322 target BUY

Maybe in fairness you would consider writing a balanced article, that is of course, if you are allowed to.

regards

John

Caelainn Barr,

On the same day as the "reduce" rec from Numis to 135p,

Morgan Stanley went "overweight" with a target of 270p

So your piece contains a lie. NUMIS stated "reduce". You published "sell".

You ignored the Morgan Stanley rec.

Why are you actively trying to stitch up those private investors and individuals currently invested in Xcite Energy?

Which institution regulates Citywire?

"Citywire Financial Publishers Ltd. is authorised and regulated by the Financial Services Authority no: 222178 to provide investment advice and is bound by its rules."

Are you really? Seems you've broken/ignored a couple today!!

Another thing. The article states 'Xcite’s shares become the most heavily bought and also the most heavily sold equity on the Selftrade platform'. What a oddly meaningless statement. Surely every share bought is a share sold?

One can only assume that Ms Barr is a PR person and not a journalist?

Donald Hunter, a bit strong accusing a chap of a lie! Numis advised "reduce"= Is there another way to reduce apart from selling?

Nope, its not strong.

Reduce means just that. Reduce your holding or top-slice.

Sell means just that. Sell the lot, get out while you can.

A lie is only as convincing as the motivation behind it.

But methinks you knew that already.

BTW I think Watch just used the ultimate insult on Ms Barr - see above.

Thank you jh and other posters who have opened my eyes. I will now unsubscribe from citywire. What a blatantly biased article. At least now my inbox will be a bit lighter.

NS

is mr Barr actually paid for providing this 'insight'?

if so who by?

Since reading the unresearched and rather poor piece by Caelainn Barr (PR rather than good journalism) on Xcite, I have tried three times to unsubscribe from Citywire.

It appears Ms Barr became a journalist after an 18-week part-time college course in magazine journalism!

Perhaps their webmaster/IT expert has little experience as well if they can't even "switch off" an unhappy - and becoming angry - former customer.

PS - I was a journalist for 50 years.

Good post Watch. I worked in Financial Services for 7 years and in that time came across many examples of sharp practice.

I will continue to subscribe, however, if I read another piece by Ms Barr or anyone else which contains blatant falsehoods and deliberate omissions then I will complain to Citywire editorial staff and then (if no remedial action taken) will raise the matter directly with the FSA.

If she is, as you say, no more than an intern, then perhaps she made an honest mistake. I doubt it though.

What an Xcitable lot you are!

I’ve held off intervening thinking this would blow over but a week has gone by and still the completely OTT comments are coming in. While I apologise for the faults in the original article, I must come to Caelainn’s defence.

For the record, Caelainn is a thoroughly professional individual and you have no right to question her or Citywire’s integrity. To suggest we are involved in a conspiracy to knock Xcite’s share price is quite honestly ridiculous.

We will update the article – or write a new one – and seek to use the information you feel we have overlooked. But I must request there are no more personal attacks.

Gavin, thank you for admitting the article was inaccurate.

However, if you consider that I, as an Xcite shareholder, have no right to criticise inaccurate reporting on Xcite Energy, then you are sadly deluded.

I always thought that journos (News Internaional excepted) were PAID to write accurate an informative copy ??

However, for me, this matter is now closed.

Xcite Energy Ltd (XEL:LSE)- FT,UK approves Statoil offshore development

15th Feb

http://www.directorstalk.com/xcite-energy-ltd-xellse-ftuk-approves-statoil-offshore-development/

Xcite Energy Ltd (XEL:LSE)- FT,UK approves Statoil offshore development

15th Feb

http://www.directorstalk.com/xcite-energy-ltd-xellse-ftuk-approves-statoil-offshore-development/

http://tradingresearchpoint.co.uk/category/stocks/

XCite Energy Ltd – Makes Notable Cross Below Critical Moving Average – Forbes

19th Feb

http://www.directorstalk.com/xcite-energy-ltd-makes-notable-cross-below-critical-moving-average-forbes/