SOURCE: Xcite Energy Limited

May 20, 2011 02:00 ET

Xcite Energy-Results of Annual and Special Meeting

ABERDEENSHIRE, UNITED KINGDOM--(Marketwire - May 20, 2011) -


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





May 20, 2011

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

            Results of Annual and Special Meeting

Xcite Energy is pleased to announce the results of its Annual and
Special Meeting held on May 18, 2011.

The holders of ordinary shares of the Company approved the following
matters at the Annual and Special Meeting:

(1) the reappointment of the following nominated directors to the
board of directors of the Company and for them to continue in office in
accordance with the Company's Articles of Association:

 Richard E. Smith
 Rupert  E. Cole
 Timothy S. Jones

The term of office as director of Roger S. Ramshaw, Gregory J. Moroney,
Scott R. Cochlan and Stephen A. Kew continues in accordance with the
Company's Articles of Association.

(2) the reappointment of BDO LLP as auditors for the ensuing year and
the authorization for the directors of the Company to fix their
remuneration.

(3) a resolution to ratify and confirm the Stock Option Plan of the
Company dated September 26th, 2007, as amended on April 14, 2011.

(4) a resolution to ratify and confirm the Shareholder Rights Plan of
the Company dated November 30th, 2010.

(5) a resolution to amend the Company's Amended and Restated
Memorandum of Association and Articles of Association.

For further details, please see the management proxy circular dated
April 14, 2011 available on  www.sedar.com .

ENQUIRIES:

Xcite Energy Limited                            +44 (0) 1483 549 063
Richard Smith           Chief Executive Officer
Rupert Cole             Chief Financial Officer

Oriel Securities                                +44 (0) 207 710 7600
(Joint Broker and Nomad)
Emma Griffin
Simon Edwards
Michael Shaw

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

Morgan Stanley which is authorised and regulated in the United Kingdom
by the Financial Services Authority, is acting exclusively for Xcite
Energy and for no one else in connection with the subject matter of
this announcement and will not be responsible to anyone other than
Xcite Energy for providing the protections afforded to its clients or
for providing advice in connection with the subject matter of this
announcement.

Oriel Securities which is authorised and regulated in the United
Kingdom by the Financial Services Authority, is acting exclusively for
Xcite Energy and for no one else in connection with the subject matter
of this announcement and will not be responsible to anyone other than
Xcite Energy for providing the protections afforded to its clients or
for providing advice in connection with the subject matter of this
announcement.

                    This information is provided by RNS
          The company news service from the London Stock Exchange

END

Contact Information