Xcite Energy Limited ("Xcite Energy" or the "Company") TR-1: Notification of Major Interests in Shares

| Source: Xcite Energy Ltd Xcite Energy Ltd

ABERDEENSHIRE, UNITED KINGDOM--(Marketwire - November 18, 2010) - Xcite Energy Limited (TSX-V: XEL) (LSE: XEL) (AIM: XEL)

  1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:   XCITE ENERGY (CDI)
  2. Reason for the notification     (please tick the appropriate box or boxes)  
  An acquisition or disposal of voting rights   X
  An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached  
  An event changing the breakdown of voting rights  
  Other (please specify): ___________  
  3. Full name of person(s) subject to the notification obligation:   Ignis Investment Services Limited   
  4. Full name of shareholder(s) (if different from 3.):  
  5. Date of the transaction (and date on which the threshold is crossed or reached if different):   16/11/2010
  6. Date on which issuer notified:   17/11/2010
  7. Threshold(s) that is/are crossed or reached:   5%
  8. Notified details:   Nominee holdings
     
     
A: Voting rights attached to shares
Class/type of shares

if possible
using the
ISIN CODE		 Situation
previous to
the Triggering
transaction 		Resulting situation after the
triggering transaction
Number
of
Shares 		Number
of
Voting
Rights viii		 Number
of
shares 		Number of
voting rights ix		 % of
voting rights
Direct Direct x Indirect xi Direct Indirect
B2942B1         7,118,383   4.64%
               
               
B: Financial Instruments
Resulting situation after the triggering transaction xii
Type of financial instrument Expiration date xiii Exercise/ Conversion  Period/ Date xiv Number of voting rights that may be acquired if the instrument is exercised/ converted. % of voting rights
         
 
Total (A+B)
Number of voting rights % of voting rights
7,118,383.00 4.64%
   
   
9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable xv:
Pearl Group Limited
Impala Holdings Limited
Pearl Group Holdings (No.1) Ltd
Ignis Asset Management Ltd
Ignis Investment Services Ltd (indirect)

Vidacos Nominees Ltd  (7,118,383.00 4.64%)
 
 
Proxy Voting:
10. Name of the proxy holder:  
11. Number of voting rights proxy holder will cease to hold:  
12. Date on which proxy holder will cease to hold voting rights:  
   
   
13. Additional information: Percentage calculation based on Issued Share Capital of 153,439,000
14. Contact name:       Jean Birrell
15. Contact telephone number:      0141 222 8226
   

Contact Information:

Contact:
Jean Birrell
0141 222 8226