Xcite Energy fails to please despite well test beating expectations

Xcite Energy, an AIM-listed North Sea oil and gas group, saw its shares fall on Thursday morning, despite its pre-production well test results on the Bentley Field exceeding management expectations.

Xcite Energy, an AIM-listed North Sea oil and gas group, saw its shares fall on Thursday morning, despite its pre-production well test results on the Bentley Field exceeding management expectations.

During the well test the firm produced around 147,000 barrels of crude oil, and significantly improved its understanding of the oil, gas and water in the area. Less water was produced than expected.

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