SYS-CON MEDIA Authors: Roberto Medrano, Dmitriy Stepanov, Gilad Parann-Nissany, Srinivasan Sundara Rajan, Sean Houghton

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Xcite Energy Limited Announces Board Appointments

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

ENQUIRIES:

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
Andrew Foster

Bell Pottinger
+44 (0) 207 861 3232
Mark Antelme / Henry Lerwill

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