Xcite Energy Share News (XEL)

ABERDEENSHIRE, UK--(Marketwire - July 19, 2010) - This Announcement Is Not for Release, Publication or Distribution in or Into the United States Xcite Energy is pleased to announce that Xcite Energy Resources Limited ("XER") (TSX-V: XEL) (LSE: XEL) (AIM: XEL) has entered into a binding contract for the Ocean Nomad semi-submersible rig to drill the 9/3b-R well on the Bentley field. With an expected spud date around the middle of September subject to the current rig programme, this will enable XER to complete the intended 9/3b-R well programme as planned in 2010. 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. FOR FURTHER INFORMATION PLEASE CONTACT: ENQUIRIES: or Xcite Energy Limited Richard Smith Chief Executive Officer Rupert Cole Chief Financial Officer +44 (0) 1330 826740 or Arbuthnot Securities Limited (Nomad and Broker) Antonio Bossi Director +44 (0) 207 012 2000 or Pelham Bell Pottinger Mark Antelme Director +44 (0) 207 861 3232 or Paradox Public Relations Jean-Francois Meilleur Consultant +1 514 341 0408 (END) Dow Jones Newswires July 20, 2010 02:00 ET (06:00 GMT)