Shares digital

xXcite Energy (XEL:AIM)

The heavy oil specialist, which came to the market last year, drilled a successful appraisal well on its Bentley field in February.

The company does not lack ambition, management aims to be pumping 60,000 barrels of oil a day by 2012, and the firm is currently conducting an extended well test to gain greater understanding of its potential.

There is likely to be a reserves upgrade later in 2008 and the company hopes to bring first production on stream next year as part of an early phased development. It is also participating in the 25th North Sea licensing round.