1st Feb 2011 07:00
THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES
TSX-V, LSE-AIM: XEL
1 February 2011
Xcite Energy Limited
("Xcite Energy" or the "Company")
Extension of Letter of Intent for "Rowan Norway" N-Class Jack-up Rig
Xcite Energy announces that its 100% subsidiary, Xcite Energy Resources Limited ("XER"), has entered into an extension to the binding letter of intent ("LOI") with British American Offshore Limited("BAOL"), part of Rowan Companies, Inc. for the N-Class "Rowan Norway" jack-up rig.
The LOI has been extended by mutual consent to 11 February 2011 with no amendment to the existing termination fee payable by XER in the event it does not enter into a definitive agreement by this date.
ENQUIRIES:
Xcite Energy Limited |
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+44 (0) 1330 826740 |
Richard Smith | Chief Executive Officer |
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Rupert Cole | Chief Financial Officer |
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Arbuthnot Securities Limited (Nomad and Broker) |
| +44 (0)20 7012 2000 |
Antonio Bossi | Director |
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Pelham Bell Pottinger |
| +44 (0) 20 7861 3232 |
Mark Antelme Henry Lerwill
| Director |
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Paradox Public Relations |
| +1 514 341 0408 |
Jean-Francois Meilleur | Consultant |
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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.
Related Shares:
Xcite Energy