Xcite Energy Limited (XEL) is a Virgin Islands-based heavy oil appraisal and development company. The Company focuses on the development of discovered resources in the United Kingdom North Sea. It operates through its United Kingdom subsidiary, Xcite Energy Resources plc (XER). XEL holds and operates 100% of the Bentley field, an undeveloped field in the North Sea. The Bentley Field is a four-way dip closed structure of Lower Eocene and Upper Palaeocene Dornoch sandstone reservoir containing 909 MMstb (million short tons) of heavy oil. The Bentley field is located on the East Shetland Platform in the United Kingdom Northern North Sea, eight kilometers southeast of the Bressay Field (operator: Statoil), 15 kilometers east of the Kraken Field (operator: EnQuest) and 20 kilometers north-northeast of the Bruce Field (operator: BP). The Company also holds and operates blocks 9/4a, 9/8b and 9/9h (License P1979).