Xcite Energy Limited ("Xcite Energy" or the "Company") MOU With AMEC and ARUP

Xcite Energy Limited ("Xcite Energy" or the "Company") MOU With AMEC and ARUP 
ABERDEENSHIRE, UNITED KINGDOM -- (Marketwired) -- 04/09/14 --  Xcite
Energy (TSX VENTURE: XEL) (LSE: XEL) 
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 
Xcite Energy announces that its 100% subsidiary, Xcite Energy
Resources Limited ("XER"), has entered into a Memorandum of
Understanding ("MOU") with AMEC Group Limited ("AMEC") and Ove Arup &
Partners Limited ("Arup"), which sets out the principles of
co-operation for the design and development of Arup's
self-installing, steel ACE platform for the Bentley field.  
XER, AMEC and Arup intend to work together to optimise the existing
ACE platform design for the Bentley field, covering all aspects of
assurance, engineering, procurement, construction and installation.
This should enable XER, prior to contract award, to confirm the final
platform design and capital requirement for one of the key Bentley
field development assets.  
XER believes that there are a number of benefits from using this
existing, proven, self-elevating design, including the ability to
build and integrate the platform at a wide range of construction
yards. This should enable a direct wet tow to be undertaken to the
Bentley field, at which time the platform can be installed with
minimal offshore support. This, together with the application of an
inherent "design for decommissioning" principle, should result in a
capital efficient and environmentally compliant development
infrastructure solution.  
Rupert Cole, CEO of Xcite Energy, commented:
 "We are pleased to be
able to announce AMEC and Arup as partners in our development group
to progress Bentley towards production. Following on from the $250
million extended well test, this next phase of engineering will allow
us to optimise Arup's existing ACE platform design for the Bentley
field and enable us to refine the costs and related schedule ahead of
submitting the Field Development Plan." 
Notes to Editors 
AMEC (LSE: AMEC) is a leading supplier of consultancy, engineering
and project management services to its custome
rs in the world's oil
and gas, mining, clean energy, environment and infrastructure
markets. Our 29,000 people design, deliver and maintain strategic and
complex assets in around 40 countries worldwide. See amec.com. 
Arup is the creative force at the heart of many of the world's most
prominent projects in the built environment and across industry. From
90 offices in 38 countries our 11,000 planners, designers, engineers
and consultants deliver innovative projects across the world with
creativity and passion. 
For further information about the ACE platform and related services,
please visit:
http://www.arup.com/Services/Oil_and_Gas_Engineering.aspx  
Forward-Looking Statements  
Certain statements contained in this announcement constitute
forward-looking information within the meaning of securities laws.
Forward-looking information may relate to the Company's future
outlook and anticipated events or results and, in some cases, can be
identified by terminology such as "may", "will", "should", "expect",
"plan", "anticipate", "believe", "intend", "estimate", "predict",
"target", "potential", "continue" or other similar expressions
concerning matters that are not historical facts. These statements
are based on certain factors and assumptions including expected
growth, results of operations, performance and business prospects and
opportunities. While the Company considers these assumptions to be
reason
able based on information currently available to us, they may
prove to be incorrect. Forward-looking information is also subject to
certain factors, including risks and uncertainties that could cause
actual results to differ materially from what we currently expect.
These factors include risks associated with the oil and gas industry
(including operational risks in exploration and development and
uncertainties of estimates oil and gas potential properties), the
risk of commodity price and foreign exchange rate fluctuations and
the ability of Xcite Energy to secure financing. The Company
disclaims any intention or obligation to update or revise any
forward-looking statements whether as a result of new information,
future events or otherwise, except as required under applicable
securities regulations. 
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. 
ENQUIRIES: 
Xcite Energy Limited 
+44 (0) 1483 549 063
Rupert Cole / Andrew Fairclough  
Liberum (Joint Broker and Nomad) 
+44 (0) 203 100 2222
Clayton Bush / Tim Graham  
Morgan Stanley (Joint Broker) 
+44 (0) 207 425 8000
Andrew Foster  
Bell Pottinger 
+44 (0) 207 861 3232
Mark Antelme / Henry Lerwill 
 
 
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