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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



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.

                    This information is provided by RNS
          The company news service from the London Stock Exchange

END

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