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UK 27th Offshore Licensing Round Offers

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ABERDEENSHIRE, UNITED KINGDOM--(Marketwire - October 25, 2012) -
TSX-V: 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, TSX-V: XEL

25 October 2012

Xcite Energy Limited
("Xcite Energy" or the "Company")

UK 27th Offshore Licensing Round Offers

Xcite Energy is pleased to confirm that the UK Department of Energy and
Climate Change has offered Xcite Energy Resources Limited ("XER")
licences over Blocks 9/4 (part), 9/8b and 9/9f (split) as applied for
in the UK 27th Offshore Licensing Round.

These blocks contain four significant prospects (Chadwick, Cartwright,
Camm and Clement), which will be the subject of evaluation within the
four year initial license term on a drill or drop basis. The addition
of these blocks to the XER portfolio enhances the development potential
of the greater Bentley area and forms part of the Company's strategy
for growth.

Commenting on the offers, Rupert Cole, CEO, said:"The offer of these Blocks
is a welcome expansion of the Xcite
portfolio. Whilst we remain focused on the development of the Bentley
field, these additions clearly demonstrate our intent to grow Xcite
into a significant North Sea player."



ENQUIRIES:
Xcite Energy Limited +44 (0) 1483 549 063
Rupert Cole / Andrew Fairclough

Oriel Securities (Joint Broker and Nomad) +44 (0) 207 710 7600
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


Forward-Looking Statements

Certain statements contained in this announcement constitute
forward-looking information within the meaning of securities laws.
Forward-looking information may relate to the Company's future outlook
and anticipated events or results and, in some cases, can be identified
by terminology such as "may", "will", "should", "expect", "plan",
"anticipate", "believe", "intend", "estimate", "predict", "target",
"potential", "continue" or other similar expressions concerning matters
that are not historical facts. These statements are based on certain
factors and assumptions including expected growth, results of
operations, performance and business prospects and opportunities. While
the Company considers these assumptions to be reasonable based on
information currently available to us, they may prove to be incorrect.
Forward-looking information is also subject to certain factors,
including risks and uncertainties that could cause actual results to
differ materially from what we currently expect. These factors include
risks associated with the oil and gas industry (including operational
risks in exploration and development and uncertainties of estimates oil
and gas potential properties), the risk of commodity price and foreign
exchange rate fluctuations and the ability of Xcite Energy to secure
financing. Additional information identifying risks and uncertainties
are contained in the Company's annual information form dated 26 October
2010 and in the annual Management's Discussion and Analysis for Xcite
Energy dated 22 March 2012 filed with the Canadian securities
regulatory authorities and available at www.sedar.com. The Company
disclaims any intention or obligation to update or revise any
forward-looking statements whether as a result of new information,
future events or otherwise, except as required under applicable
securities regulations.

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.


This information is provided by RNS
The company news service from the London Stock Exchange

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