Xcite Energy Limited ("Xcite Energy" or the "Company") Additional Listing and Total Voting Rights

ABERDEENSHIRE, UK--(Marketwire - December 14, 2010) - This Announcement Is Not for Release, Publication or Distribution in or Into the United States

Xcite Energy Limited (TSX-V: XEL) (LSE: XEL) (AIM: XEL) -- Further to the announcement in relation to the draw down on the Standby Equity Distribution Agreement issued on 13 December 2010, the Company announces that it has now received approval of the share issue by the TSX Venture Exchange and it has therefore made an application for the admission to AIM ("Admission") of 2,351,916 ordinary shares of no par value in the capital of the Company (the "New Ordinary Shares").

The New Ordinary Shares shall rank pari passu with the Company's existing issued ordinary shares of no par value ("Ordinary Shares") and dealings are expected to commence on 17 December 2010.

Following Admission, the Company's enlarged issued share capital will comprise 158,453,998 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 158,453,998.

This figure of 158,453,998 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.

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. 

Contact Information:

ENQUIRIES:

Xcite Energy Limited
Richard Smith
Chief Executive Officer
Rupert Cole
Chief Financial Officer
+44 (0) 1330 826740

Arbuthnot Securities Limited
(Nomad and Broker)
Antonio Bossi
Director
+44 (0)20 7012 2000

Pelham Bell Pottinger
Mark Antelme
Director
Henry Lerwill
+44 (0) 20 7861 3232

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