SOURCE: Xcite Energy Limited

May 29, 2012 02:31 ET

Bentley Phase 1A Operational Update

ABERDEENSHIRE, UNITED KINGDOM--(Marketwire - May 29, 2012) -


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                             TSX-V, LSE-AIM: XEL



29 May 2012

                             Xcite Energy Limited

                               ("Xcite Energy")



                    Bentley Phase 1A Operational Update



Xcite Energy is pleased to announce that the 9/3b-7 well has reached
target depth of 9,377 feet (measured depth).

A reservoir section in excess of 2,200 feet has been penetrated, with
100% net pay, and sand screens have been run successfully. The
remainder of the planned operations, including drilling of the second
reservoir section, installation of the down-hole pump and commissioning
of the processing equipment will now be undertaken prior to the
production test commencing.

The two 6" export pipelines from the Rowan Norway have been
successfully installed and the installation vessel, Polar Prince, has
been released.





ENQUIRIES:

Xcite Energy Limited                                +44 (0) 1483 549 063

Richard Smith                      Chief Executive
                                   Officer

Rupert Cole                        Chief Financial
                                   Officer

Oriel Securities (Joint Broker
and Nomad)                                          +44 (0) 207 710 7600

Emma Griffin                       Partner

Michael Shaw                       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                      Account Director



Paradox Public Relations                            +1 514 341 0408

Jean-Francois Meilleur             Consultant


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(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this
release.


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 annual Management's Discussion and Analysis for Xcite
Energy for the period ended 31 March 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.



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