Xcite Energy Share News (XEL)

LONDON (Dow Jones)--Xcite Energy PLC (XEL.LN), said Tuesday that Xcite Energy Resources Ltd has entered into a binding contract for the Ocean Nomad semi-submersible rig to drill the 9/3 billion-R well on the Bentley field. MAIN FACTS: -With an expected spud date around the middle of September subject to the current rig program, this will enable to the company complete the intended 9/3 billion-R well program as planned in 2010. -Shares closed Monday at 60.50 pence, valuing the company at GBP81.25 million. -By Razak Musah Baba, Dow Jones Newswires; 44-20-7842-9275; razak.baba@dowjones.com (END) Dow Jones Newswires July 20, 2010 02:42 ET (06:42 GMT)