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Xcite Energy Limited
Geneva Place Waterfront Drive
P.O. Box 3469
Tortola, 1110  British Virgin Islands Ticker: XELXEL
On 10/25/2016, the Company announced, the principal Bondholders are not satisfied with the bond restructuring transaction and are expected to instruct the Bond Trustee to petition the Court in the British Virgin Islands within the next 10 days requesting the appointment of a liquidator to the Company, which is expected to take effect approximately 4 to 6 weeks from the filing of such request. On the basis of advice received by the Company and the directors, the directors believe that liquidation is unlikely to result in the return of any value to the Company's existing shareholders. As a consequence, the Directors have requested the immediate suspension of the trading on AIM of the ordinary shares in the Company.
This company is no longer actively traded on any major stock exchange.
Business Summary
Xcite Energy Limited (XEL) is a heavy oil development company focused on the development of discovered resources in the North Sea. The Company operates through the segment, which includes the appraisal and development of oil and gas reserves and the geographical segment in which it operates is the North Sea. The Company holds and operates Bentley field located in Block 9/3b (License P1078) in the United Kingdom North Sea through its subsidiary, Xcite Energy Resources plc (XER). The Bentley field is located on the East Shetland Platform in the United Kingdom Northern North Sea, over eight kilometers southeast of the Bressay Field, approximately 15 kilometers east of the Kraken Field and over 20 kilometers north-northeast of the Bruce Field. The Company also holds and operates blocks 9/4a, 9/8b and 9/9h (License P1979) in the United Kingdom Northern North Sea.

Scores and Ratings
FRISK®
Score		 Z''
Score		 PAYCE®
Score		 DBT
Index		 Moody's
Rating		 Fitch
Rating		 DBRS
Rating
-Yes-----

Financials, News and Filings
Latest
Statement		 Last
Audit
News		 SEC
Filings		 Bankruptcy
Filings		 Suit &
Judgment
Filings		 Tax
Lien
Filings
6/30/201612/31/2015Yes----

Industries
SIC Code Description
1311 Crude petroleum and natural gas
6719 Offices of holding companies, not elsewhere classified

Officers and Directors

Title
Name
Age		 Title
Date		 Start
Date
Non-Executive Chairman of the Board Timothy S.Jones 5/7/2014 3/19/2009
Chief Executive Officer, Executive Director, Company Secretary Rupert E.Cole 8/3/2012 1/1/2007
Chief Financial Officer, Executive Director AndrewFairclough 45 2/3/2014 2/3/2014
Chief Operating Officer, Executive Director Stephen A.Kew 8/3/2012 1/1/2007

Business Names
Business Name
Xcite Energy Limited
Xcite Energy Ltd.
XEL

General Information
Number of Employees: 17 (As of 6/30/2016)
Outstanding Shares: 309,930,421 (As of 6/30/2016)
Stock Exchange: SEA


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Saturday, July 22, 2023