According to another board where someone received an email reply from Xcite, they will not be presenting at the Oil Barrel conference on December 9th as had previously been thought.

It looks like some very adept traders and market makers decided to use this news to knock down the share price in London and then Toronto to take out lots of stop limits and drive the price down. They might have been covering shorts or looking at a cheap price to buy back in or both.

Anyway, it closed at the Canadian equivalent of $4.82 on the LSE.

By the way, the same email reply, as well as some phone calls that other investors in Britain had made today, all had the same message; that everything continues to look good from a technical point of view and that because of everything presently occurring they did not want to take the time to go to the conference.

Cheers,

PW