Xcite Energy Limited - Exercise of Share Options

ABERDEENSHIRE--(Marketwire - Dec 7, 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




7 December 2012

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

 Exercise of Share Options

The Company announces that application has been made for the admission
to AIM("Admission")of 600,000 new ordinary shares without parvalue in the
Company ("Ordinary Shares"), pursuant to the exercise
of share options. The new Ordinary Shares shall rank pari passu with
the Company's existing issued Ordinary Shares and dealings are expected
to commence on 10 December 2012.

Following Admission, the Company's enlarged issued share capital will
comprise 290,880,000 Ordinary Shares with one voting right per
share. There are no shares held in treasury. The total number of voting
rights in the Company is therefore 290,880,000.

This figure of 290,880,000 Ordinary Shares may be used by shareholders
in the Company as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or a
change in their interest in, the share capital of the Company under the
FSA's Disclosure and Transparency Rules.

ENQUIRIES:

Xcite Energy Limited +44 (0) 1483 549 063

Rupert Cole / Andrew Fairclough

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

Michael Shaw / Ashton Clanfield

Morgan Stanley (Joint Broker) +44 (0) 207 425 8000
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 TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in 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