Xcite Energy Regulatory News (XEL)

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TSX-V, LSE-AIM: XEL

16 May 2014

Xcite Energy Limited

("Xcite Energy" or the "Company")

Results of Annual and Special Meeting

Xcite Energy is pleased to announce the results of its Annual and Special Meeting held on 15 May 2014.

The following resolutions, as set out in the Notice of Meeting, were approved by holders of the ordinary shares of the Company:

(1) the reappointment of the following nominated directors to the board of directors of the Company and for them to continue in office in accordance with the Company's Articles of Association:

Scott R. Cochlan

Rupert E. Cole

Andrew J. Fairclough

Timothy S. Jones

Stephen A. Kew

Gregory J. Moroney

Henry G. Wilson

(2) the reappointment of BDO LLP as auditors for the ensuing year and the authorisation for the directors of the Company to fix their remuneration.

(3) a resolution to ratify and confirm the Stock Option Plan of the Company dated 26 September 2007.

For further details, please see the management proxy circular dated 8 April 2014 available on the Company's website and at www.sedar.com.

Neither the 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.