|By Marketwired .||
|May 8, 2014 02:00 AM EDT||
ABERDEENSHIRE, UNITED KINGDOM -- (Marketwired) -- 05/08/14 -- 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 TSX-V: XEL; LSE: XEL 8 May 2014 Xcite Energy Limited ("Xcite Energy" or the "Company") Board Appointments Xcite Energy is pleased to announce the appointment of Timothy Stephen Jones as non-executive Chairman and Henry ("Harry") George Wilson as a non-executive director of the Company, effective from 7 May 2013. Roger Ramshaw has retired as Chairman for personal reasons and has resigned from the Board with immediate effect. Mr. Jones has been a non-executive director of Xcite Energy since 2009 and has a beneficial interest in 50,000 ordinary shares of the Company. Mr. Wilson, age 61, has over 35 years' international experience in upstream oil and gas, initially as an explorer with British Petroleum, and has since founded and been chief executive officer of several independent oil companies, including Dragon Oil plc, Endeavour Oil & Gas Limited and Sterling Energy Plc. He is currently non-executive Chairman of Eland Oil & Gas PLC. Rupert Cole, CEO of Xcite Energy, commented: "I am very pleased that Tim has agreed to accept the role of Chairman and to welcome Harry to the Board at this important time. With this combination of enhanced industry experience, I am looking forward to working with the new Board as we bring together our development partners and deliver a robust plan that will demonstrate the technical and financial capability to bring Bentley into production. I would like to thank Roger for his significant contribution since 2007 and we all wish him the very best for the future." Additional Information Mr Timothy Stephen Jones holds, or has held in the past five years, the following directorships or partnerships: Current In the past five years Club 2000 Bingo Limited Bahamas Petroleum Company Limited Esher Management Services Limited Beacon Hill Resources Plc Falkland Oil and Gas Limited MacEvents Limited Full House Bingo Limited Point Leisure Limited Management Resource Solutions Plc There is no further information required to be disclosed pursuant to paragraph (g) of Schedule 2 of the AIM Rules. Mr Henry ("Harry") George Wilson holds, or has held in the past five years, the following directorships or partnerships: Current In the past five years Roselea Limited Sterling Energy Plc Roselea Developments Limited Sterling Energy (UK) Limited Park Securities Limited Sterling Energy (International) Limited Fairplay Securities Limited Sterling Energy (Mauritania) Limited - Mardall Securities A Limited Jersey Eland Oil & Gas PLC Sterling Oil Limited Park Holdings Sterling Oil (North America) Limited New Town Property Developments Sterling Northwest Africa Holdings LLP Limited Forres Property Development Sterling Energy (Mauritania) Limited - LLP UK Sterling Energy USA Inc Sterling Energy, Inc - USA Sterling oil & Gas Pty Ltd Sterling USA Operating, Inc - USA RIMCO Production Company, Inc - USA Whittier Energy Company - USA Westmount Resources, Inc - USA Flow Energy Ltd (Australian) Ocean Pakistan Ltd (BVI) Bow Energy Resources (Pakistan) SRL (Barbados) Orient Petroleum (Central Asia) Limited (BVI) There is no further information required to be disclosed pursuant to paragraph (g) of Schedule 2 of the AIM Rules. Notes to Readers Xcite Energy Resources Limited is Operator of the Bentley field and holds a 100% working interest in the Bentley licence. 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
Xcite Energy Limited
+44 (0) 1483 549 063
Rupert Cole / Andrew Fairclough
Liberum (Joint Broker and Nominated Adviser)
+44 (0) 203 100 2222
Clayton Bush / Tim Graham
Morgan Stanley (Joint Broker)
+44 (0) 207 425 8000
+44 (0) 207 861 3232
Mark Antelme / Henry Lerwill
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