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Xcite Energy Limited ("Xcite Energy" or the "Company") Transfer of Shareholdings

^{Published on 2010-06-16 23:20:07 - Market Wire}
 

ABERDEENSHIRE, UK--(Marketwire - June 17, 2010) - This Announcement Is Not for Release, Publication or Distribution in or Into the United States

Each of Richard Smith, Rupert Cole and Stephen Kew, the three executive directors of Xcite Energy (TSX-V: [ XEL ]) (LSE: XEL) (AIM: XEL), have entered into separate unconditional contracts to transfer all of their shareholdings in the Company to separate non-UK based companies in which they each hold 100% of the issued share capital.

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.