Xcite Energy Limited ("Xcite Energy" or the "Company") TR-1: Notification of Major Interest in Shares

  Xcite Energy Limited (TSX-V: XEL) (LSE: XEL) (AIM: XEL)

For filings with the FSA include the annex For filings with issuer exclude the annex

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1. Identity of the issuer or the underlying issuer  XCITE ENERGY (CDI)
of existing shares to which voting rights are
attached:
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2. Reason for the notification     (please tick the appropriate box or
boxes)
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An acquisition or disposal of voting rights                                X
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An acquisition or disposal of financial instruments which may result in
the acquisition of shares already issued to which voting rights are
attached
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An event changing the breakdown of voting rights
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Other (please specify): ___________
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3. Full name of person(s) subject to    Ignis Investment Services Limited
the notification obligation:
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4. Full name of shareholder(s) (if
different from 3.):
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5. Date of the transaction and date on               13/01/2011
which the threshold is crossed or
reached if different:
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6. Date on which issuer notified:                    18/01/2011
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7. Threshold(s) that is/are crossed or                   3%
reached:
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8.Notified details: Nominee holdings
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A: Voting rights attached to shares
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Class/type  Situation previous  Resulting situation after the triggering
of shares   to the triggering   transaction
            transaction
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if possible Number of Number of Number of Number of voting % of voting
using       Shares    Voting    shares    rights           rights
the ISIN              Rights
CODE                  viii
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                                Direct    Direct  Indirect Direct  Indirect
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B2942B1                                           4,634,494        2.92%
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B: Financial Instruments
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Resulting situation after the triggering transaction xii
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Type of         Expiration  Exercise/        Number of voting   % of voting
financial       date        Conversion       rights that may be rights
instrument                  Period/ Date     acquired if the
                                             instrument is
                                             exercised/
                                             converted.
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C: Financial Instruments with similar economic effect to Qualifying
Financial Instruments
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Resulting situation after the triggering transaction
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Type of     Exercise    Expiration  Exercise/   Number of     % of voting
financial   price       Date        Conversion  voting rights rights
instrument                          period      instrument
                                                refers to
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                                                              Nominal Delta
                                                              --------------

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Total (A+B+C)
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Number of voting rights               Percentage of voting rights
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4,634,494.00                          2.92%
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9. Chain of controlled undertakings through which the voting rights and/or
the financial instruments are effectively held, if applicable:
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Vidacos Nominees Ltd  (4,634,494    2.92%)





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Proxy Voting:
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10. Name of the proxy holder:
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11. Number of voting rights proxy holder will cease
to hold:
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12. Date on which proxy holder will cease to hold
voting rights:
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13. Additional information:    Percentage calculation based on Issued Share
                               Capital of 158,703,998
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14. Contact name:                    Jean Birrell
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15. Contact telephone number:       0141 222 8226
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Note: Annex should only be submitted to the FSA not the issuer

Annex: Notification of major interests in shares

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A: Identity of the persons or legal entity subject to the notification
obligation
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Full name (including legal form of legal
entities)
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Contact address (registered office for
legal entities)
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Phone number & email                           0141 222 8286
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Other useful information (at least legal       Stephanie Griffin
representative for legal persons)
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B: Identity of the notifier, if applicable
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Full name                                      Jean Birrell
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Contact address                                50 Bothwell Street, Glasgow,
                                          G2 6HR
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Phone number                                   0141 222 8226
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Other useful information (e.g. functional      Public Relations Manager
relationship with the person or legal
entity subject to the notification
obligation)
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C: Additional information
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The submission of this disclosure is late due to a change in Share Capital
not being updated on 11th January 2011 on Bloomberg, therefore it was not
noticed that the 3% threshold had been crossed until the share capital
change was made today.
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For notes on how to complete form TR-1 please see the FSA website.

Jean Birrell Public Relations Manager 0141 222 8226