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Extension to Maturity Date of Unsecured 14% Loan

ABERDEENSHIRE, UNITED KINGDOM -- (Marketwire) -- 01/30/13 --



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

                         LSE-AIM, TSX-V: XEL




30th January 2013



                       Xcite Energy Limited
                 ("Xcite Energy" or the "Company")

        Extension to Maturity Date of Unsecured 14% Loan Notes

Xcite Energy has extended the maturity date of the Unsecured 14% Loan
Notes (the "Loan Notes") issued to a fund managed by West Face Capital
Inc. ("West Face").

The maturity date of the Loan Notes, the terms of which were announced
on 10 April 2012 and 8 August 2012, has been extended for a period of
275 days to 31 December 2013 which, subject to the approval of West
Face, may be further extended for an additional 90 days to 31 March
2014.
ENQUIRIES:

Xcite Energy Limited                      +44 (0) 1483 549 063
Rupert Cole / Andrew Fairclough

Liberum Capital (Joint Broker and Nomad)  +44 (0) 203 100 2222
Clayton Bush / Tim Graham

Morgan Stanley (Joint Broker)             +44 (0) 207 425 8000
Andrew Foster

Pelham Bell Pottinger                     +44 (0) 207 861 3232
Mark Antelme / Henry Lerwill

Paradox Public Relations                  +1 514 341 0408



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accepts responsibility for the adequacy or accuracy of this release.

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