ABERDEENSHIRE, UNITED KINGDOM--(Marketwire - Nov 20, 2012) -

TSX-V, LSE-AIM: XEL

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

20 November 2012

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

Holdings in Company

Xcite Energy has received notification that Global Resource Funding Partners LLC no longer has a shareholding in the Company.

ENQUIRIES:

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

Oriel Securities (Joint Broker and Nomad)   +44 (0) 207 710 7600
Michael Shaw / Ashton Clanfield

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
Jean-Francois Meilleur


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that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.

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