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

TSX-V, LSE-AIM: XEL

28th October 2009

Change of Broker

Xcite Energy Limited, a developer of heavy oil assets in the UK North Sea, is pleased to announce the appointment of Arbuthnot Securities Limited ("Arbuthnot") as its broker with immediate effect.

Commenting on the appointment, Richard Smith, Chief Executive said;

"We are very pleased to have Arbuthnot as our new broker. We look forward to the continuing benefit of their significant expertise and support as we continue to create further shareholder value."

ENQUIRIES:

Xcite Energy Limited		+44 (0) 1330 826740
Richard Smith	Chief Executive Officer
Rupert Cole	Chief Financial Officer
Strand Partners Limited (Nomad)		+44 (0) 20 7409 3494
James Harris	Director
Rory Murphy	Director
Arbuthnot Securities Limited Andrew Fairclough Ed Burbidge	Director	+44 (0)20 7012 2000
Pelham Public Relations		+44 (0) 20 7337 1500
Mark Antelme Paradox Public Relations	Director	+1 514 341 0408
Jean-Francois Meilleur Karl Mansour	Consultant Consultant

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.

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 June 30, 2008 and in the annual Management's Discussion and Analysis for Xcite Energy dated March 26, 2009 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.

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