Xcite Hires Jackup for Bentley Drilling

Xcite announced that, as expected, the jackup Rowan Norway (400' ILC) has been made available to Xcite Energy Resources Limited ("XER") and is now on hire, subject to a satisfactory audit and inspection prior to acceptance.

Following acceptance and in accordance with the originally scheduled work program in Dundee, the rig will be modified to accept drilling and processing equipment, before being appropriately equipped and prepared by XER prior to deployment to the Bentley field as soon as practicable. This is expected to be early February 2012, subject to suitable weather conditions prevailing and all expected permits and consents having been obtained, after which the Company expects to commence drilling for Phase 1A of the First Phase Development of Bentley.

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