Xcite Energy

xcite energy resources plc ("xer"​) is an independent oil company, which is focused on the development of heavy oil resources in the uk north sea. xer owns a 100% working interest in the bentley heavy oil field on block 9/3b in the north sea. the bentley field is a pre-development asset, with independently assessed, base-case recoverable 1p reserves of 236 mmbbls, 2p of 267 mmbbls and 3p of 298 mmbbls for the bentley field to be produced through a phased development. on an npv(10) post-tax basis the 2p reserves is independently assessed with value of $2.50 billion. xer is focused on bringing the bentley field into commercial production, having completed the phase 1a work programme in september 2012, which gave the company its first oil revenues. xer has operational offices at 7 queen's gardens, aberdeen and corporate offices at 1 farnham road, guildford, surrey.