Xcite Energy yesterday provided a corporate update and its results for the three months ended 30 September 2011. Xcite has seen continued progress in its technical and operational plans for the First Phase Development (“FPD”) of the Bentley field.
The Rowan Norway jack-up rig has arrived in Dundee and is currently undergoing final equipment testing, crew training and regulatory certification for operations, before it can be handed over to the Company and equipped for its deployment onto the Bentley field.
The Company continues its good progress with the approval process by the Department of Energy and Climate Change (“DECC”) of a Field Development Plan for the Bentley field, to be consistent with the rig deployment timing. A final Environmental Statement for the planned FPD on the Bentley field has now been submitted in line with usual practice.
Financing discussions continue to progress satisfactorily and the Company’s objective is to conclude these in a consistent timeframe with approval by DECC of a Field Development Plan for the Bentley field and the rig deployment.
Offshore Energy Today Staff , November 16, 2011