Equity Line Facility Agreement Extension

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

14 April 2014

Xcite Energy Limited

("Xcite Energy" or the "Company")

Equity Line Facility Agreement Extension

Xcite Energy announces that it has extended the term of its existing Equity Line Facility agreement ("ELF") with Esousa Holdings, LLC by three years until 30 July 2017.

The terms and conditions of the ELF remain unchanged, with an undrawn facility amount of £30.84 million, to be used, subject to the terms and conditions of the ELF, at the sole discretion of the Company.

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.