Xcite Energy Limited (XEL) is an oil issuer and disclosures pertaining to oil activities. The Company is engaged in the appraisal and evaluation of oil and gas reserves and the geographical segment, in which it operates is the North Sea. The Company�s sole operational focus is the development of the Bentley field. The Company holds a 100% working interest in the Bentley field on Block 9/3b, a proven, undeveloped fields in the United Kingdom North Sea. During the year ended December 31, 2011, it had been independently assessed as having 2P reserves of 116 million barrels of oil equivalent for the core area of the Bentley field. Xcite Energy Resources Limited (XER) is a wholly owned subsidiary of the Company. XER is a 100% owner and operator of Block 9/3b, license P.1078, containing the Bentley field. On December 16, 2011, the Company terminated the SEDA facility with Yorkville.