Xcite Energy Limited ("Xcite" or the "Company") UK 26th Offshore Licensing Round Award

ABERDEENSHIRE, UNITED KINGDOM--(Marketwire - October 28, 2010) -  This announcement is not for release, publication or distribution in or into the United States

Xcite (TSX-V: XEL) (LSE: XEL) (AIM: XEL) is pleased to confirm that the UK Department of Energy and Climate Change has awarded Xcite Energy Resources Limited ("XER") licences over Blocks 9/3c and 9/3d as applied for in the UK 26th Offshore Licensing Round.

The addition of these licences to the XER portfolio enhances the development potential of the Block 9/3 area containing the Bentley field and the prospects identified in the Licensing Round.

Neither 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.

Contact Information:

ENQUIRIES:

Xcite Energy Limited
Richard Smith
Chief Executive Officer
Rupert Cole
Chief Financial Officer
+44 (0) 1330 826740

Arbuthnot Securities Limited
(Nomad and Broker)
Antonio Bossi
Director
+44 (0) 20 7012 2000

Pelham Bell Pottinger
Mark Antelme
Director
Henry Lerwill
+44 (0) 20 7861 3232

Paradox Public Relations
Jean-Francois Meilleur
Consultant
+1 514 341 0408