Sep. 2012 - Xcite Energy has successfully concluded the pre-production well test in the Bentley Phase 1A work program. The test was built around two horizontal well sections (9/3b-7 and 9/3b-7Z) representing an excess of 4,200 feet of net reservoir. Approximately 147,000 barrels of Bentley crude were produced. Results confirmed the existence of a large aquifer that should provide long term pressure support during production. Even with the aquifer in place, the oil-water ratio was far better than expected and provides important information for modeling long term oil recovery from the field. Both well bores will be suspended and kept available for use in the next phase of development. Drilling and testing were carried out by the Rowan Norway (400' ILC). Once the test equipment on the rig has been decommissioned the rig will be demobilized from the field and released back to Rowan.

Jul. 2012 - Expro has received a contract to provide equipment and services in support of Xcite Energy's 90-day extended well test in the Bentley field. Expro will provide heavy oil well testing and data management services through drilling and completions company ADTI on the Rowan Norway (400' ILC) jackup. The Bentley field is estimated to contain 116 million barrels of proven and probable reserves.

Jul. 2012 - Xcite Energy reported that pre-production flow test on the Bentley field is progressing well with the planned shut-in period and pressure build-up test commencing on July 11 following the initial, successful, clean-up and first oil flow on July 9. This planned shut-in period and pressure build- up test is designed to obtain key information about the Bentley reservoir and the mobility of its fluid for use in interpreting the subsequent flow data and for planning the next step of the Bentley field development.

Jul. 2012 - Xcite Energy has signed a five-year, $155 million loan agreement with a group of lending institutions, secured against oil reserves, which will provide funding for Phase 1B development of its Bentley heavy oil field. The loan facility is subject to certain conditions and the achievement of targets in the Bentley Phase 1A development work program, including the drilling of a well and a flow test.

Jun. 2012 - Xcite Energy has reached a targeted depth of 9,646 feet (2,940 meters) at well 9/3b-7z on the Bentley field. A reservoir section in excess of 2,000 feet (610 meters) has been drilled with 100 percent net pay and sand control screens have been run successfully. The top reservoir, at 3,609 feet (1,100 meters) true vertical depth, is higher than previously encountered in any part of the field to date, thereby giving an oil column depth of approximately 121 feet (37 meters). The remainder of the planned operations, including installation of the smart completion equipment (enabling individual laterals to be flowed, co-mingled or shut-in), the down-hole pumps and commissioning of the processing equipment will now be undertaken prior to commencing production testing.

May. 2012 - Xcite Energy announced that well 9/3b-7 has reached its target depth of 9,377 feet. A reservoir section in excess of 2,200 feet was penetrated, with 100 percent net pay, and sand screens were run, successfully. Drilling of the second reservoir section, installation of the down-hole pump and commissioning of processing equipment will commence prior to production testing. Two, six-inch export pipelines from the Rowan Norway were successfully installed by the Polar Price.

Apr. 2012 - Xcite Energy has outlined its plans for Bentley's Phase 1A work program. Xcite said that the well, which was spud on March 18, 2012, with a 20-inch casing has now been set down to approximately 2,000 feet (610 meters) below the rotary table. Preparations are being made to set the blowout preventer and to continue the drilling of the 17.5-inch hole. The company added that it has invested significant resources designing and engineering the next phases in the development of the Bentley field, and the Phase 1A and Phase 1B work programs.

Apr. 2012 - Xcite Energy reported that following the spudding of the Bentley 9/3b-7 well on March 18, 2012 by the jackup Rowan Norway (400' ILC) good progress has been made in drilling the 36-inch hole. The 26-inch hole has been directionally drilled and the 20-inch surface casing has been set and cemented satisfactorily. Bently is under development with first oil slated for later this year.

Mar. 2012 - Xcite Energy announced that jackup Rowan Norway (400' ILC) has spud the 9/3b-7 development well commencing Phase 1A of the first phase development of the Bentley Field.

Mar. 2012 - Ocean Installer received a letter of intent from Xcite Resources for the installation of two oil export pipelines from the jackup Rowan Norway (400' ILC) to a shuttle tanker. Work will commence in April 2012 using the subcontracted vessel from Reef Subsea Power and Umbilical. The operator is beginning step 1A of its planned development program for Bentley. The first phase of development compromises one production well with two laterals, producing across the jackup through a process kit to degas and stabilize the crude, prior to pipeline transfer to a dynamically positioned shuttle tanker.

Mar. 2012 - Xcite Energy announced it received approval by DECC for its planned 9/3b-7 and 7Z wells. This completes the approvals necessary to drill and produce the wells in Phase 1A of the Bentley field work program.

Mar. 2012 - Xcite Energy announced that the Rowan Norway jack-up drilling rig left Dundee harbour and in tow to location to commence Phase 1A of the First Phase Development of the Bentley field.

Feb. 2012 - Xcite Energy has upgraded its oil reserves at the Bentley field, located in the UK sector of the North Sea. TRACS International Consultancy, an independent reserves auditor, estimated that oil reserves of the type 1P, 2P and 3P for the core area of Bentley are approximately 99 million, 116 million and 140 million barrels of oil, respectively. The operator plans to begin developing the field this year, after completing "significant work" in the latter half of 2011 to prepare for the Bentley Phase 1A work program in 2012. The field development plan for Bentley, comprising of Phase 1B and Phase 2, was submitted for approval to the Department of Energy and Climate Change in the final quarter of 2011.

Feb. 2011 - Xcite Energy has entered into a binding drilling contract with British American Offshore Limited for the N-Class Rowan Norway jackup for use on the Bentley field. The Rowan Norway will commence the first stage of production on the field. The jackup, currently under construction, should be available in the fourth quarter of 2011. The Bentley field is located on Block 9/3b in the UK sector of the North Sea. Xcite Energy wholly owns and operates the field.

Jan. 2011 - Xcite Energy has suspended the 9/3b-6z well for potential future use as a production well. In addition to the successful well flow test that was performed last month, temperature and sample data had also been safely recovered following a 36 hour shut-in and build up period after the flow test. The operator will now interpret this data and will release its findings at a later date. The Bentley crude is heavy with an oil gravity of 10 to 12 degrees. The field is located on Block 9/3b in License P.1078 in the UK sector of the North Sea. Xcite Energy wholly owns and operates the field.

Dec. 2010 - Xcite Energy has completed a flow test of horizontal well 9/3b-6z on the Bentley field. The operator completed a comprehensive flow test over 36 hours, including cleanup of nine hours, with cumulative production to tote tanks of more than 2,000 barrels. The company conducted multi-rate flow tests on the well and achieved a final stabilized flow rate of 2,900 barrels bopd. The flow rates achieved have demonstrated the fields' commerciality and Xcite will now proceed to the first stage production, planned for 2011. The Bentley field is located on Block 9/3b in License P.1078 in the UK sector of the North Sea, situated 99 miles (160 kilometers) east of the Shetland Isles in 371 feet (113 meters) of water. Xcite Energy wholly owns and operates the field.

Nov. 2010 - Xcite Energy has reached total depth on an appraisal well in the heavy oil Bentley field in the UK sector of the North Sea. The 9/3b-6z well is at a measured depth of 7,085 feet (2,160 meters) and has tracked the top of the reservoir. The reservoir in the wellbore section was encountered at 3,618 feet (1,103 meters), about 18 feet (5 meters) higher than the pre-well prognosis of 3,636 feet (1,108 meters), extending the oil column. Petrophysical analysis is under way to confirm net to gross oil pay. Completion and testing of this horizontal section is expected by the end of November. The Bentley field is located on Block 9/3b in License P.1078 in the UK sector of the North Sea, situated 99 miles (160 kilometers) east of the Shetland Isles in 371 feet (113 meters) of water. Xcite Energy wholly owns and operates the field.

Oct. 2010 - Xcite Energy reported that the pilot section of the 9/3b-6 appraisal well encountered a larger than expected oil column. The well confirmed a 113-foot (34-meter) oil column, about 40 feet (12 meters) thicker than the 73-foot (22-meter) prognosis, in a high-quality Dornoch reservoir. The well also confirmed that the oil/water contact is at a depth of 3,729 feet (1,137 meters). Initially, the pilot section of the 9/3b-6 well was designed to test the Dornoch reservoir but was extended to test the Jurassic play, encountering 15 feet (5 meters) of Jurassic reservoir with oil shows. Xcite stated that the pilot section has provided valuable reservoir information for the placement of a horizontal well and for planning the first stage of development. The well's horizontal section is now being drilled ahead of flow testing in November. The Bentley field is located on Block 9/3b in License P.1078 in the UK sector of the North Sea, situated 99 miles (160 kilometers) east of the Shetland Isles in 371 feet (113 meters) of water. Xcite Energy wholly owns and operates the field.

Jul. 2010 - Xcite Energy entered into a binding contract for the Ocean Nomad semisub to drill the 9/3b-R well on the Bentley field. The expected spud date of the well is around the middle of September 2010, subject to the current rig program. Drilling of this well will allow Xcite Energy to complete the intended 9/3b-R well program as planned in 2010. Located on Block 9/3b in License P.1078 in the UK sector of the North Sea is the Bentley oil field, situated 99 miles (160 kilometers) east of the Shetland Isles in 371 feet (113 meters) of water. Xcite Energy wholly owns and operates the field.

Jul. 2010 - Xcite Energy entered into an agreement for use of the Ocean Nomad semsiub to drill the 9/3b-R well on the Bentley field, with an expected spud date around the end of August, subject to the current rig program. A final contract should conclude soon. This rig will provide significant metocean operating advantages for the 9/3b-R well program, which continues to be managed by Applied Drilling Technology International. Located on Block 9/3b in License P.1078 in the UK sector of the North Sea is the Bentley oil field, situated 99 miles (160 kilometers) east of the Shetland Isles in 371 feet (113 meters) of water. Xcite Energy wholly owns and operates the field.

Mar. 2009 - Xcite performed drilling and flow testing of the 9/3b-5 appraisal well on the Bentley field in the northern North Sea, to bring first oil to surface. Xcite intends to begin the EPS, in which four horizontal production wells and two vertical water injection wells will be drilled from the jackup rig.