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Chad Griffin and Ian Morton of FTI Consulting LLP and FTI Consulting (BVI) Limited were appointed Joint Liquidators (the “Liquidators”) of Xcite Energy Limited (“XEL”) on 5 December 2016 by Order of the Eastern Caribbean Supreme Court in the High Court of Justice British Virgin Islands pursuant to Section 159(1) of the Insolvency Act, 2003.

For the avoidance of doubt Xcite Energy Resources plc (“XER”) is not subject to an insolvency process, it remains under the control of its board of directors.

The Liquidators of XEL are officers of the Court, their principal duties are to take possession of, protect and realise the assets of XEL, being its interests in XER, for the maximum value reasonably attainable.

Further information on the liquidation can be obtained from http://www.fticonsulting-emea.com/cip/xcite-energy-ltd.