Excelsior Energy Limited

Excelsior Energy Limited

November 21, 2006 11:30 ET

Excelsior Energy Limited: Rig-Slot Secured to Drill Appraisal Well of Block 9/3b

CALGARY, ALBERTA--(CCNMatthews - Nov. 21, 2006) - Excelsior (CNQ:EXEL) is pleased to announce that Xcite Energy Resources Limited as the current operator of Licence P.1078, Block 9/3b has executed a Letter of Award with AGR Peak Well Management Limited ("Peak"). The award confirms a 15 to 20 day slot in a rig schedule to drill the oil appraisal well in Block 9/3b. The rig has been contracted by Peak for a 6 month period commencing in April or May 2007.

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