ABERDEENSHIRE, UNITED KINGDOM--(Marketwire - Jul 13, 2011) -
THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES TSX-V, LSE-AIM: XEL 13 July 2011 Xcite Energy Limited ("Xcite Energy" or the "Company") Update on "Rowan Norway" N-Class Jack-Up Rig and FDP The Company is pleased to announce that the "Rowan Norway" deep water jack-up rig, scheduled for use on the Company's Bentley field, has now been delivered by the Keppel FELS shipyard in Singapore to Rowan Companies, Inc. The rig will now be transported to Dundee using the OHT Hawk heavy lift vessel, where it will undergo final testing and will be crewed and equipped for its deployment onto the Bentley field. Preparations for the submission to the Department of Energy and Climate Change of a Field Development Plan for the Bentley field remain on track and are consistent with the rig deployment timing. ENQUIRIES: Xcite Energy Limited +44 (0) 1483 549 063 Richard Smith Chief Executive Officer Rupert Cole Chief Financial Officer Oriel Securities (Joint Broker and +44 (0) 207 710 7600 Nomad) Emma Griffin Partner Simon Edwards Partner Morgan Stanley (Joint Broker) +44 (0) 207 425 8000 Andrew Foster Managing Director Pelham Bell Pottinger +44 (0) 207 861 3232 Mark Antelme Director Henry Lerwill Paradox Public Relations +1 514 341 0408 Jean-Francois Meilleur Consultant 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. Oriel Securities which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for Xcite Energy and for no one else in connection with the subject matter of this announcement and will not be responsible to anyone other than Xcite Energy for providing the protections afforded to its clients or for providing advice in connection with the subject matter of this announcement. Morgan Stanley which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for Xcite Energy and for no one else in connection with the subject matter of this announcement and will not be responsible to anyone other than Xcite Energy for providing the protections afforded to its clients or for providing advice in connection with the subject matter of this announcement. This information is provided by RNS The company news service from the London Stock Exchange END
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