SOURCE: Xcite Energy Limited

March 01, 2012 06:35 ET

Rowan Norway Update

ABERDEENSHIRE, UNITED KINGDOM--(Marketwire - Mar 1, 2012) -


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DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO
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SUCH JURISDICTION


                       TSX-V, LSE-AIM: XEL


01 March 2012

                      Xcite Energy Limited

               ("Xcite Energy" or the "Company")

                       Rowan Norway Update



Xcite Energy is pleased to announce that the Rowan Norway jack-up
drilling rig has left Dundee harbour and is being towed to location to
commence Phase 1A of the First Phase Development of the Bentley field.





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

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




Oriel Securities Limited, 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.



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

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