/EINPresswire.com/ -- ABERDEENSHIRE, SCOTLAND -- (Marketwired) -- 03/07/16 -- Xcite Energy Limited (TSX VENTURE: XEL) (LSE: XEL) (AIM: XEL)

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

LSE-AIM: XEL

7 March 2016

Xcite Energy Limited

("Xcite Energy" or the "Company")

Share Price Movement

Xcite Energy notes the movement in its share price and can confirm it knows of no reason for this movement.

Forward-Looking Statements

This announcement contains certain forward-looking statements that are subject to the usual risk factors and uncertainties associated with the oil and gas exploration and production business. Whilst the Company believes the expectations reflected herein to be reasonable in light of the information available to it at this time, the actual outcome may be materially different owing to factors beyond the Company's control, or otherwise within the Company's control, for example, if the Company decides on a change of plan or strategy. Accordingly, no reliance may be placed on the figures contained in such forward-looking statements.

Notes to Editors

Xcite Energy (LSE-AIM: XEL) is an oil appraisal and development company with a portfolio of heavy oilfield assets in the Northern North Sea in the UK. Xcite Energy holds a 100% working interest in the Bentley field; a heavy oil field with 2P recoverable reserves of 265 MMstb, making Bentley one of the largest undeveloped oilfields in the UK Continental Shelf.

ENQUIRIES:Xcite Energy Limited

                                                        +44 (0) 1483 549 063
Rupert Cole / Andrew Fairclough

Liberum (Joint Broker and Nomad)                        +44 (0) 203 100 2222
Clayton Bush / Jamie Richards

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

Bell Pottinger                                          +44 (0) 203 772 2500
Henry Lerwill

Contacts:
RNS
Customer
Services
0044-207797-4400
rns@londonstockexchange.com
http://www.rns.com

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.