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THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES

TSX-V, LSE-AIM: XEL

May 29, 2009

Xcite Energy Limited

('Xcite Energy' or the 'Company')

Results of Annual General Meeting

Xcite Energy is pleased to announce the results of its Annual General Meeting held on May 26th, 2009. 

• The Annual General Meeting of the Company voted to reappoint the following nominated directors to the board of directors of the Company and for them to continue in office in accordance with the Company's Articles of Association:

Timothy S. Jones

Stephen A. Kew

Richard E. Smith

 

      2.   The term of office as director of Rupert E. Cole, Scott R. Cochlan, Gregory J. Moroney and Roger S. 
            Ramshaw continues in accordance with the Company's Articles of Association.

 

      3.   The Annual General Meeting of the Company voted to reappoint BDO Stoy Hayward LLP as auditors 
            for the ensuing year and authorised the directors of the Company to fix their remuneration.

 

      4.   The Annual General Meeting of the Company voted for the resolution to ratify and confirm the Stock 
            Option Plan of the Company dated September 26th, 2007.

For further details, please see the management proxy circular available on www.sedar.com.

 ENQUIRIES:

Xcite Energy Limited		+44 (0) 1330 826 740
Richard Smith	Chief Executive Officer
Rupert Cole	Chief Financial Officer
Thomas Weisel Partners International Limited		+44 (0) 20 7877 4300
Paul Colucci	Managing Director
Jesse Meidl	Vice President
Strand Partners Limited		+44 (0) 20 7409 3494
James Harris	Director
Rory Murphy	Director
Pelham Public Relations		+44 (0) 20 7337 1500
Mark Antelme	Director

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.

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