Cancellation of Xcite Energy Limited and Xcite Energy Resources Licences

As a shareholder in Xcite Energy, this licence should be revoked and action be taken against the directors for misleading and mishandling affairs while in office.

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Fully support this petition

Please revoke this licence for the future of the North sea, British jobs and long suffering loyal shareholders.

Please cancel the licences.

I am a shareholder in Xcite Energy please revoke this licence

Unless the OGA show some teeth I fear this will be the death knell of private investment and therefore development in the North Sea.

9 years ago Featured

Holding 28,000. All I want is an open market sale of the asset and tax credits, for the purpose of paying off the bond holders and the remaining given to shareholders if any exist. No trust in the BOD after such poor communications.

The company is clearly insolvent and now probably in the hands of assorted Hedge Funds. XER are insolvent but being kept going - why? Simply as a sop to the licence requirements IMO. Where are the required technical/financial criteria? At the very least this licence should be suspended - what good does it do the UK taxpayer in the wrong hands? How much did the technical review cost? Was that UK tax payer funded? I would say yes as OGA themselves receive funding.

Complete con from the BoD and a disgrace that this could happen under the watch of the UK Government . So much for a "regulated market".

It is in the North Sea oil and gas industry's interest for the licenses not to be abused especially when they are in connection with an asset of national importance. In the case of Bentley, private investors provided almost single-handedly the long term financing that the industry so badly needs. - The fire sale of Bentley -especially in this highly questionable manner - would be tantamount to abuse of the license: it would create a bad example for the industry and for private investors who wish to be part of value creation by North Sea oil companies. - In the case of the Bentley field, we therefore call upon the OGA to temporarily freeze the license so that both Xcite Energy and the bondholders are strongly encouraged to accept PIs on the negotiation table and give them a say to the future of the company.

Holding 150,000

Corruption!please investigate!

9 years ago Featured

Please revoke the Bentley field license to prevent the field ending up under the control of a foreign national company at the expense of the shareholders and the UK taxpayers. The OGA have a clear national duty to perform.

Please investigate.

Please revoke these North Sea Licences

The details concerning exactly what happened here and why needs to be brought into the public domain. The treatment of shareholders with contempt and blatant misinformation to suit self interest by the parties privy to the information is beyond belief. The way the share price was deliberately decimated prior to the coup de grâce equity dilution 'offer' is clear for all to see.

Please suspend and investigate!

How did this happen to a company with such an asset?

Misled for years, invested heavily on lies being told through released RNS's by the company. We can't loose thousands without a fight.