21 December 2010

Xcite Energy Limited

(“Xcite Energy” or the “Company”)

Successful Completion of 9/3b-6zWell Flow Test

The Company announces that the flow test of the 9/3b-6z horizontal well on the

Bentley field has been successfully completed.

The flow rates achieved demonstrate both the commerciality of the Bentley field and

the reservoir properties to be above the upper end of modelled expectations.

Key flow test results were:

Total flow test of 36 hours including clean-up of 9 hours, with cumulative

production to tote tanks of over 2,000 barrels.

Multi-rate flow tests were conducted, culminating in a final stabilised flow

rate of 2,900 stock tank barrels of oil per day.

Richard Smith, Chief Executive Officer of Xcite Energy, commented:

“This is an outstanding outcome for the Xcite team and for the industry contractors to

deliver this successful well test on Bentley. This flow test fully demonstrates the

commercial potential of the Bentley field and the long-held belief that Xcite has

maintained in this major North Sea asset. We now move on to the first stage

production planned for 2011 with an excellent platform.”