Xcite Energy Limited: Re-filing of annual financial statements

ABERDEENSHIRE, UNITED KINGDOM--(Marketwired - Dec 4, 2013) -

 Xcite Energy Limited
(TSX VENTURE: XEL) (LSE: XEL) (AIM: XEL)

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART
DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO
WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF
SUCH JURISDICTION


                          TSX-V, LSE-AIM: XEL


4 December 2013



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

 Re-filing of annual financial statements (amendments to the Report of
                       the Independent Auditors)

Following a review of its 2012 Financial Statements by the Alberta
Securities Commission (the "ASC") the Company has decided to re-file
its audited financial statements for the year ended 31 December 2012
(the "2012 Financial Statements") with the following amendments to the
Report of the Independent Auditors:

   * The inclusion of reference in the Report of the Independent
     Auditors to the comparative period ended 31 December 2011; and

   * Clarification that the auditor had applied 'International
     Standards on Auditing as adopted by the International Auditing and
     Assurance Standards Board' in replacement of the reference
to'International Auditing Standards (UK and Ireland)'.

Other than replacing the Report of the Independent Auditors, no other
changes have been made to the 2012 Financial Statements. The re-filed
2012 Financial Statements include a revised Report of the Independent
Auditors which continues to give an unqualified opinion for the years
ended 31 December 2012 and 31 December 2011. The re-filed 2012
Financial Statements are available on SEDAR.





ENQUIRIES:

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

Liberum Capital Limited (Joint Broker and           +44 (0) 203 100 2000
Nominated Adviser)
Clayton Bush / Tim Graham
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 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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