Xcite Energy Limited ("Xcite Energy" or the "Company") Extension of Letter of Intent for "Rowan Norway" N-Class Jack-Up Rig
January 14 2011 - 1:00AM
Marketwired
Xcite Energy announces that its 100% subsidiary, Xcite Energy
Resources Limited ("XER"), (TSX-V: XEL) (LSE: XEL) (AIM: XEL) 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 31st January 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.
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) 1330
826740 Richard Smith Chief Executive Officer Rupert Cole Chief
Financial Officer Arbuthnot Securities Limited (Nomad and
Broker) +44 (0)20 7012 2000 Antonio Bossi Director Pelham Bell
Pottinger +44 (0) 20 7861 3232 Mark Antelme Director Henry
Lerwill Paradox Public Relations +1 514 341 0408
Jean-Francois Meilleur Consultant
Xcite Energy Limited (TSXV:XEL)
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