ABERDEENSHIRE, UNITED KINGDOM--(Marketwire - Dec 20, 2012) -

   NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART
   DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO
   SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS
                     OF SUCH JURISDICTION



                       LSE-AIM, TSX-V: XEL
                            TSXV: IEA






20 December 2012
                       Xcite Energy Limited

                ("Xcite Energy" or the "Company")

                      Appointment of Adviser


Xcite Energy is pleased to announce that Liberum Capital Limited has
been appointed to act as its Nominated Adviser and joint corporate
broker, alongside Morgan Stanley, with immediate effect.



ENQUIRIES:

Xcite Energy Limited                             +44 (0) 1483 549 063
Rupert Cole / Andrew Fairclough
Liberum Capital Limited (Nomad and Joint Broker) +44 (0) 20 3100 2222
Clayton Bush / Tim Graham

Morgan Stanley (Joint Broker)                    +44 (0) 207 425 8000
Andrew Foster

Pelham Bell Pottinger                            +44 (0) 207 861 3232
Mark Antelme / Henry Lerwill

Paradox Public Relations                         +1 514 341 0408
Jean-Francois Meilleur



Forward-Looking Statements

Certain statements contained in this announcement constitute
forward-looking information within the meaning of securities laws.
Forward-looking information may relate to the Company's future outlook
and anticipated events or results and, in some cases, can be identified
by terminology such as "may", "will", "should", "expect", "plan",
"anticipate", "believe", "intend", "estimate", "predict", "target",
"potential", "continue" or other similar expressions concerning matters
that are not historical facts. These statements are based on certain
factors and assumptions including expected growth, results of
operations, performance and business prospects and opportunities. While
the Company considers these assumptions to be reasonable based on
information currently available to us, they may prove to be incorrect.
Forward-looking information is also subject to certain factors,
including risks and uncertainties that could cause actual results to
differ materially from what we currently expect. These factors include
risks associated with the oil and gas industry (including operational
risks in exploration and development and uncertainties of estimates oil
and gas potential properties), the risk of commodity price and foreign
exchange rate fluctuations and the ability of Xcite Energy to secure
financing. Additional information identifying risks and uncertainties
are contained in the Company's annual information form dated 26 October
2010 and in the Management's Discussion and Analysis for Xcite Energy
dated 9 November 2012 filed with the Canadian securities regulatory
authorities and available at  www.sedar.com . The Company disclaims any
intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or
otherwise, except as required under applicable securities regulations.



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.



                    This information is provided by RNS
          The company news service from the London Stock Exchange

END