Xcite Energy Limited -- Appointment of Advisers

ABERDEENSHIRE, UNITED KINGDOM--(Marketwire - May 18, 2011) -

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                         TSX-V, LSE-AIM: XEL



18 May 2011

                        Xcite Energy Limited
                  ("Xcite Energy" or the "Company")

Appointment of Joint Brokers, Financial Adviser and change of Nominated
                            Adviser

Xcite Energy (TSX-V: XEL) (LSE: XEL) (AIM: XEL), a developer of heavy
oil assets in the UK North Sea, is pleased to announce that Morgan
Stanley & Co. International ("Morgan Stanley") and Oriel Securities
Limited ("Oriel Securities") have been appointed as joint corporate
brokers to the Company. Rothschild has been appointed as the Company's
financial adviser.

In addition, Oriel Securities has been appointed as the Company's
Nominated Adviser. All appointments are effective immediately.

ENQUIRIES:

Xcite Energy Limited                             +44 (0) 1483 549 063
Richard Smith          Chief Executive Officer
Rupert Cole            Chief Financial Officer

Rothschild                                       +44 (0)207 280 5000
(Financial Adviser)
Neeve Billis
Stewart MacDonald

Oriel Securities                                 +44 (0) 207 710 7600
(Joint Broker and Nomad)
Emma Griffin
Simon Edwards
Michael Shaw

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

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

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

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.

Rothschild 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.

Oriel Securities 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.


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

END