.

lol i will have to do better!! hope you are well dc and things going good for you
cheers

Thanks for that gibby,yeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeehaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa

Xcite Energy Limited (XEL)

Exchange: TSX Venture Exchange

$2.350 Jun 29, 2011, 3:58 PM EDT Change: 0.590 (33.52%)Volume: 148,920

Day Low
1.990 Day High
2.350 52 Week Low

0.930 52 Week High

6.360 Real-time Streaming Quotes Add to Portfolio Create Alert52 Week Information close
52 Week High
2010-12-21
Close: 6.360 52 Week Low
2010-07-15
Close: 0.930



QuoteChartingNewsCompanyFinancialsPrice HistoryOptionsResearch Back
Drawdown on Equity Line and Directors' Share Purchases
Jun. 29, 2011 (Marketwire Canada) --

ABERDEENSHIRE, UNITED KINGDOM--(Marketwire - June 29, 2011) - This announcement is not for release, publication or distribution in or into the United States.
Xcite Energy (TSX-V: XEL) (LSE: XEL) (AIM: XEL) announces that it has drawn down on its Standby Equity Distribution Agreement ("SEDA") with YA Global Master SPV Ltd ("Yorkville") in the amount of 12.5 million (CAD$19.5 million). This draw down has been undertaken at a price of 1.18 (CAD$1.84) per share and will result in the issue of 10,593,220 ordinary shares of no par value in the capital of the Company (the "SEDA Ordinary Shares") to Yorkville. This funding will be used as future working capital for the Company and to progress towards the first stage production of the Bentley field.

Subject to the terms of the SEDA and except in accordance with Canadian securities laws and with prior written approval of the TSX Venture Exchange, the SEDA Ordinary Shares may not be sold or otherwise traded on or through the facilities of the TSX Venture Exchange or otherwise in Canada or to or for the benefit of a Canadian resident until the date that is four months and one day from the date of issue.

Application will be made for the admission to AIM ("Admission") of the SEDA Ordinary Shares upon approval of the share issue by the TSX Venture Exchange. The SEDA Ordinary Shares will rank pari passu with the Company's existing issued ordinary shares (each, an "Ordinary Share").

The Company has engaged Arbuthnot Securities Limited ("Arbuthnot") to assist in the placing of the stock acquired by Yorkville pursuant to the SEDA, for which it will be paid a fee of 82,800 (CAD$129,000). Arbuthnot, as agent for the purchasers, has agreed to acquire 5,508,475 shares acquired by Yorkville pursuant to the SEDA, including stock to be acquired by directors of the Company.

The Company has received communication that two of its directors, Rupert E. Cole and Stephen A. Kew intend to purchase, using entities controlled directly by them, through Arbuthnot, respectively, 1,000,000 and 1,000,000 Ordinary Shares of the Company at a purchase price of 1.18 (CAD$1.84) per share from Yorkville on the date of closing of the issuance of the SEDA Ordinary Shares to Yorkville.

Following the purchase of the 1,000,000 Ordinary Shares, Mr. Cole will hold an aggregate of 6,198,334 Ordinary Shares. Following the purchase of the 1,000,000 Ordinary Shares, Mr. Kew will hold an aggregate of 6,212,619 Ordinary Shares.

Subject to approval by the TSX Venture Exchange, following the issue of the 10,593,220 Ordinary Shares the total Ordinary Shares in the Company in issue will be 175,591,947.

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.

Oriel Securities 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.

ENQUIRIES:





Xcite Energy Limited





Richard Smith

RNS 7am in the morning

Hell, Gibby where you been. Glad they let you out for good behaviour.,.

Nice to see directors purchase cheap shares, when the public investor has lost a
fortune. Note they did not purchase a couple of weeks ago, with the share in decline.
Bit like purchasing a coat for 300 then seeing it in the sale a week later for 75.
Not good in my view.

Am up early with funds,maybe buying last week at 1.30 am not such a mug.....long way till i get my money back.............long way.... i bought a house and ended up with a shed.....now a shed with lighting.

The directors have purchased a shed and end up with a mansion, again wrong.

dog eat dog....when they sell next time so do i

Lets hope for a 5 very soon, good luck mm

Wow - directors sold at a high and now buying back at 118p.


Sniff, Sniff..... whats that smell ?

stinks

If thats what it takes to recover investors capital so be it. You want to be selling this time when they do.

almost certainly does stink - lax canadian regs? - but the (very) brave had a fair amount of time to buy below that 1.18 strike price

We don't get the advice they do. You tend to think they are not even taking a gamble.
Do not like what I have seen.

Its dare I say it story written.

They make huge bal-s up and come out of the shi- with roses and rich.Something is wrong in this world

The institutions will buy in now at the expense of the public investor.They have got the company to where it is today and a lot of them not picked up the reward. Have the board looked after the pi. I know what I am thinking.

hmmmmm

Good start to the day, keep going