This Announcement Is Not for Release, Publication or Distribution in or Into the United States

Each of Richard Smith, Rupert Cole and Stephen Kew, the three executive directors of Xcite Energy (TSX-V: XEL) (LSE: XEL) (AIM: XEL), have entered into separate unconditional contracts to transfer all of their shareholdings in the Company to separate non-UK based companies in which they each hold 100% of the issued share capital.

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 Richard Smith Chief Executive Officer Rupert Cole Chief Financial Officer +44 (0) 1330 826740 Arbuthnot Securities Limited (Nomad and Broker) Antonio Bossi Director Andrew Fairclough Director +44 (0)20 7012 2000 Pelham Public Relations Mark Antelme Director +44 (0) 20 7861 3232 Paradox Public Relations Jean-Francois Meilleur Consultant +1 514 341 0408