XEL

The Company (TSX-V: XEL) (LSE: XEL) (AIM: XEL) announces that it has received communication yesterday of the sale of ordinary shares of nil par value ("Ordinary Shares") by overseas entities controlled by certain Directors of the Company.

The shares sold were as follows:

                                                     Number of Ordinary
                                             Price          Shares sold
Richard E. Smith     Director               £3.837            1,101,666
Stephen A. Kew       Director               £3.837            1,101,666
Rupert E. Cole       Director               £3.837            1,101,666

Resultant shareholdings in overseas entities controlled by the respective Directors above are as follows:

                                    No of Ordinary  Percentage of Xcite
                                       Shares held               Energy
Richard E. Smith     Director            5,198,334                3.28%
Stephen A. Kew       Director            5,212,619                3.29%
Rupert E. Cole       Director            5,198,334                3.28%

An early warning report will be filed on SEDAR and will be obtainable from the SEDAR website (www.sedar.com).

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 (Nomad and Broker) +44 (0)20 7012 2000 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

Xcite Energy Limited (TSXV:XEL)
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