SOURCE: Xcite Energy Limited

April 23, 2014 10:02 ET

Xcite Energy Limited: Equity Line Facility Agreement Extension

ABERDEENSHIRE, UNITED KINGDOM--(Marketwired - Apr 23, 2014) - Xcite Energy Limited (TSX VENTURE: XEL) (LSE: XEL)


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                          TSX-V: XEL; LSE: XEL

14 April 2014

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

               Equity Line Facility Agreement Extension

Xcite Energy announces that it has extended the term of its existing
Equity Line Facility agreement ("ELF") with Esousa Holdings, LLC by
three years until 30 July 2017.

The terms and conditions of the ELF remain unchanged, with an undrawn
facility amount of GBP30.84 million, to be used, subject to the terms and
conditions of the ELF, at the sole discretion of the Company.

ENQUIRIES:

                                             +44 (0) 1483 549 063
Xcite Energy Limited
Rupert Cole / Andrew Fairclough

Liberum (Joint Broker and Nominated Adviser) +44 (0) 203 100 2222
Clayton Bush / Tim Graham


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


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


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.



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