Director Share Purchases

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

TSX-V, LSE-AIM: XEL

21 October 2014

Xcite Energy Limited

("Xcite Energy" or the "Company")

Director Share Purchases

Xcite Energy announces that on 20 October 2014 it was notified of the following purchase of ordinary shares in the Company by a Director.

On 20 October 2014, Chief Financial Officer Andrew J. Fairclough purchased 35,000 ordinary shares in the Company at a price of 43.10 pence per share. Mr. Fairclough now has a shareholding of 88,000 ordinary shares in the Company.

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.