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Thursday 04 August, 2011Xcite Energy Limited
Option Award - Directors,Management & Project Team
RNS Number : 7152L
Xcite Energy Limited
04 August 2011



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





4 August 2011

Xcite Energy Limited

("Xcite Energy" or the "Company")



Option Award to Directors, Management and Project Team



Xcite Energy announces the award of an aggregate of 1,850,000 options to purchase ordinary shares of the Company to the Directors, members of the Xcite Energy Resources Limited (the Company's wholly owned subsidiary) management team and to certain members of the Bentley field project team.



The options, which vest immediately, were granted under the terms of the Company's share option scheme by reference to the closing price of the Company's ordinary shares on 3 August 2011. All options have an exercise price of CAN$2.30 (1.46) per ordinary share and are exercisable for a period of five years. This award is made in recognition of the significant progress made to achieve submission of the final draft of the Field Development Plan for the Bentley field to the Department of Energy and Climate Change.



Following these option awards, the Directors of the Company have the following aggregate number of ordinary shares under option:





Option award now being made
Aggregate ordinary shares under option








Roger Ramshaw
100,000
690,000








Gregory Moroney
100,000
490,000








Timothy Jones
100,000
590,000








Scott Cochlan
100,000
590,000








Richard Smith
100,000
2,521,000








Stephen Kew
100,000
2,521,000








Rupert Cole
100,000
2,521,000













ENQUIRIES:



Xcite Energy Limited








+44 (0) 1483 549 063

Richard Smith
Chief Executive Officer



Rupert Cole
Chief Financial Officer










Oriel Securities (Joint Broker and Nomad)
+44 (0) 207 710 7600

Emma Griffin

Simon Edwards
Partner

Partner










Morgan Stanley (Joint Broker)


+44 (0)207 425 8000

Andrew Foster
Managing Director










Pelham Bell Pottinger


+44 (0) 207 861 3232

Mark Antelme

Henry Lerwill


Director




Paradox Public Relations


+1 514 341 0408

Jean-Francois Meilleur
Consultant











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.



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.



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.






This information is provided by RNS
The company news service from the London Stock Exchange

END

unbelievable,

Could this of not waited. Not the time in my opnion. The sp is in shi- and they are giving out rewards. When will they learn.

We are talking silly prices all round now.....

Just getting stupid.

Looks like you can only play these markets very short term...any longterm plays like I have are just out of the question.

Why is this getting a bashing.

Just about everything is. Hold on to your hats!

Not recovering very well today.

NO recovery. Where is this going?

down, rapidly

Not good.

Will this ever go up. Red day after day.

It was blue yesterday was it not?

Your right. Thats the only day in Aug it has. This was 1.65 July 27th.
It went up yesterday from 1.16 to 1.25, now we are back to the 1.16.

It was over 4 not so long ago, until the Directors sold a shed load of shares, I followed their example and did the same :-)

Good for you .

FLASH: Numis downgrades Xcite Energy from add to hold, target price cut from 225p to 127p
10 August 2011 | 12:27pm

Up from a low of 98p on Monday to close at 1.26.88 up 28.88p at close on Friday.

Must be prepared for the dilution to come.

dreamcatcher - 12 Aug 2011 13:10 - 2242 of 2243
FLASH: Numis downgrades Xcite Energy from add to hold, target price cut from 225p to 127p
10 August 2011 | 12:27pm