SOURCE: Xcite Energy Ltd

June 17, 2010 02:00 ET

Xcite Energy Limited ("Xcite Energy" or the "Company") Transfer of Shareholdings

ABERDEENSHIRE, UK--(Marketwire - June 17, 2010) -  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.

Contact Information


    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
    Andrew Fairclough
    +44 (0)20 7012 2000

    Pelham Public Relations
    Mark Antelme
    +44 (0) 20 7861 3232

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