Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
The last time Xcite Energy (XEL) shares were at 66p was in July 2012. Then, there were 278million shares in issue, today there are 290million. At 74p, roughly £30million has been added to Xcite’s market cap, but the question now is does this represent the true value of progress this company has made in the last two years?
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