XMM-Newton observations of the eclipsing polar V2301 Oph

We present XMM-Newton observations of the eclipsing polar V2301 Oph which cover nearly 2.5 binary orbital cycles and two eclipses. This polar is believed to have the lowest magnetic field strength (7 MG) of any known polar. We find evidence for structure in the X-ray eclipse profile which shows a `standstill' feature lasting 26 +/- 4 s. This allows us to place an upper limit on the mass of the white dwarf of ~1.2M_solar. We find no evidence for quasi-periodic oscillations (QPOs) in the frequency range 0.02-10Hz. This coupled with the absence of QPOs in RXTE data suggests that, if present, any oscillations in the shock front have a minimal effect on the resultant X-ray flux. We find no evidence for a distinct soft X-ray component in its spectrum - it therefore joins another seven systems which do not show this component. We suggest that those systems which are asynchronous, have low mass-transfer rates or have accretion occurring over a relatively large fraction of the white dwarf are more likely to show this effect. We find that the specific mass-transfer rate has to be close to 0.1 g cm^-2 s^-1 to predict masses which are consistent with that derived from our eclipse analysis. This may be due to the fact that the low magnetic field strength allows accretion to take place along a wide range of azimuth.