2nd Apr 2012 07:00
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
TSX-V, LSE-AIM: XEL
2 April 2012
Xcite Energy Limited
("Xcite Energy" or the "Company")
Drilling update for Bentley 9/3b-7 well
Xcite Energy announces that, following the spudding of the Bentley 9/3b-7 well on 18 March 2012 with the Rowan Norway jack-up drilling rig, good progress has been made in drilling the 36" hole and to set the 30" conductor pipe. The 26" hole has been directionally drilled and the 20" surface casing has been set and cemented satisfactorily.
Completion of these upper hole sections, safely and as planned, gives a firm foundation for the rest of the Phase 1A work programme planned to be undertaken within the 240 days initial term under the rig contract, which commenced in early March. Further news updates will be provided in due course.
ENQUIRIES:
Xcite Energy Limited |
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+44 (0) 1483 549 063 |
Richard Smith | Chief Executive Officer |
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Rupert Cole | Chief Financial Officer |
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Oriel Securities (Joint Broker and Nomad) |
| +44 (0) 207 710 7600 |
Emma Griffin | Partner |
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Michael Shaw | Partner |
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Morgan Stanley (Joint Broker) |
| +44 (0) 207 425 8000 |
Andrew Foster | Managing Director |
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Pelham Bell Pottinger |
| +44 (0) 207 861 3232 |
Mark Antelme Henry Lerwill
| Director Account Director |
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Paradox Public Relations |
| +1 514 341 0408 |
Jean-Francois Meilleur | Consultant |
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Oriel Securities Limited, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for Xcite Energy and for no one else in connection with the subject matter of this announcement and will not be responsible to anyone other than Xcite Energy for providing the protections afforded to its clients or for providing advice in connection with the subject matter of this announcement.
Morgan Stanley, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for Xcite Energy and for no one else in connection with the subject matter of this announcement and will not be responsible to anyone other than Xcite Energy for providing the protections afforded to its clients or for providing advice in connection with the subject matter of this announcement.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of this release.
Related Shares:
Xcite Energy