ABERDEENSHIRE, UNITED KINGDOM--(Marketwire - Oct 15, 2012) -
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART
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LSE-AIM, TSX-V: XEL
15 October 2012
Xcite Energy Limited
("Xcite Energy" or the "Company")
Suspension of 9/3b-7 and 7Z wells and rig off hire on Bentley Field
Xcite Energy is pleased to announce the safe and successful conclusion
of the Phase 1A offshore work programme, with the Rowan Norway drilling
rig having been demobilised and handed back to Rowan Companies Inc.
The 9/3b-7 and 7Z wells were successfully suspended for future use as
production wells during Phase 1B. The Scott Spirit and shuttle tanker
are now off hire and the offtake pipelines have been safely recovered.
Commenting on the conclusion of the Phase 1A programme, Rupert Cole,
CEO, said:"On behalf of the Xcite Energy team, I would like to thank
everyone
involved in Phase 1A for their contribution to the safe and very
successful conclusion of the work programme. We look forward to
progressing towards Phase 1B."
ENQUIRIES:
Xcite Energy Limited +44 (0) 1483 549 063
Rupert Cole / Andrew Fairclough
Oriel Securities (Joint Broker and Nomad) +44 (0) 207 710 7600
Emma Griffin / 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
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