PRESS RELEASE: Xcite Energy Limited ("Xcite Energy" or the "Company") Rig Contract-Ocean Nomad

2nd Jul 2010 07:04

ABERDEENSHIRE, UK--(Marketwire - July 01, 2010) - This Announcement Is Not for Release, Publication or Distribution in or Into the United States. Xcite Energy (TSX-V: XEL)(LSE: XEL)(AIM: XEL) is pleased to announce that it has entered into an agreement for the Ocean Nomad semi-submersible rig to drill the 9/3b-R well on the Bentley field, with an expected spud date around the end of August subject to the current rig programme. The Company expects to conclude final contracts shortly. This rig provides significant metocean operating advantages over a jack-up unit for the 9/3b-R well programme, which continues to be managed by Applied Drilling Technology International. Neither 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. FOR FURTHER INFORMATION PLEASE CONTACT: ENQUIRIES: Xcite Energy Limited +44 (0) 1330 826740 Richard Smith Chief Executive Officer Rupert Cole or Chief Financial Officer or Arbuthnot Securities Limited (Nomad and Broker) +44 (0)20 7012 2000 Antonio Bossi Director or Pelham Bell Pottinger +44 (0) 207 861 3232 Mark Antelme Director or Paradox Public Relations +1 514 341 0408 Jean-Francois Meilleur Consultant (END) Dow Jones Newswires July 02, 2010 02:04 ET (06:04 GMT)