Xcite Reaches TD at 2nd Bentley Planned Work Program

Xcite's 9/3b-6 well on the Bentley field is progressing on plan, on schedule and has reached target depth for the second part of the planned work program, the horizontal section of the well, 9/3b-6z.

The horizontal section has reached the planned total depth at 7085 ft measured depth in the well section and has successfully tracked the top of the reservoir. This provides over 1800 ft of gross reservoir section since reservoir entry point of 5261 ft measured depth.

The reservoir in the 9/3b-6z well bore section was encountered at an estimated 3618 ft true vertical depth subsea, some 18ft higher than the pre-well prognosis of 3636 ft true vertical depth and thus giving more oil column. Petrophysical analysis is being undertaken and is expected to confirm close to 100% net to gross oil pay.

The completion and testing of this horizontal section is expected by the end of November. Diamond Offshore's mid-water floater, Ocean Nomad, is drilling the well.

The Bentley oil field is located on Block 9/3b (License 1078), approximately 160km east of the Shetland Isles, in which Xcite Energy holds 100% working interest.

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