Xcite Energy Limited ("Xcite Energy" or the "Company") R Well Spud and Contracting of Tanker
30 September 2010 - 12:26AM
Marketwired
This Announcement Is Not for Release, Publication or Distribution
in or Into the United States
Xcite Energy (TSX-V: XEL) (LSE: XEL) (AIM: XEL) is pleased to
announce that the Ocean Nomad semi-submersible drilling rig has
arrived on location of the 9/3b-R well on the Bentley field and the
circa 65 day well programme has commenced.
In addition, the Company has contracted with Knutsen OAS (UK)
Limited to provide an offtake tanker to store well products from
the intended well test.
Notes to editors:
Xcite Energy is listed on AIM in London and the TSX Venture
Exchange. The Company is focused on the appraisal and development
of the Bentley Field in Block 9/3b in the UK North Sea. Xcite holds
100% working interest in the field, which is the largest
undeveloped heavy oil field in the region. Management's base
recovery estimate for Bentley is 160mmbbls.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
ENQUIRIES: Xcite Energy Limited +44 (0) 1330
826740 Richard Smith Chief Executive Officer Rupert Cole Chief
Financial Officer Arbuthnot Securities Limited +44 (0)20
7012 2000 (Nomad and Broker) Antonio Bossi Director Pelham Bell
Pottinger +44 (0) 20 7861 3232 Mark Antelme Director Henry
Lerwill Paradox Public Relations +1 514 341 0408
Jean-Francois Meilleur Consultant
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