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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  XCITE ENERGY LIMITED    XEL   VGG9828A1194

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XCITE ENERGY : London, 3 August 2011 Xcite Energy announces submission of Bentley FDP

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08/03/2011 | 04:45pm CET
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 JURISDICTIONTSX-V, LSE-AIM: XEL

3 August 2011

Xcite Energy Limited(“Xcite Energy” or the “Company”)Submission of Field Development Plan for Bentley Field

Xcite Energy is pleased to announce that the final draft of the Field Development Plan (“FDP”) for the Bentley field has now been submitted to the Department of Energy and Climate Change (“DECC”).

The FDP outlines the proposed development plan for the Bentley field, which addresses the first stage production programme in detail and also references the second stage production programme, which together encompasses the core area of the reservoir.

The Company will respond to any issues raised by DECC in the coming months, in expectation of achieving approval in due course.ENQUIRIES:Xcite Energy Limited +44 (0) 1483 549 063

Richard Smith Chief Executive Officer

Rupert Cole Chief Financial OfficerOriel Securities (Joint Broker and Nomad) +44 (0) 207 710 7600

Emma Griffin

Simon Edwards

Partner

PartnerMorgan Stanley (Joint Broker) +44 (0)207 425 8000

Andrew Foster Managing Director

Pelham Bell Pottinger +44 (0) 207 861 3232

Mark Antelme

Henry Lerwill

DirectorParadox Public Relations +1 514 341 0408

Jean-Francois Meilleur Consultant

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.
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Spread / Average Target 1 106%
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Rupert E. Cole CEO, Secretary & Executive Director
Timothy Stephen Jones Chairman
E. Matthew Bower Chief Operating Officer
Andrew John Fairclough Chief Financial Officer & Executive Director
Charles Lucas-Clements Director-Business Development
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