Press Releases

ABERDEENSHIRE, UNITED KINGDOM--(Marketwire - February 10, 2012) -

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

TSX-V, LSE-AIM: XEL


10 February 2012

Xcite Energy Limited
("Xcite Energy" or the "Company")

Closing of second half of Private Placement

Xcite Energy is pleased to announce that it has closed the second half of its GBP25.5 million private placement (the "Placing") with Socius CG II, Ltd. ("Socius"), a subsidiary of Socius Capital Group, LLC, previously announced on 16 December 2011.

The Placing

The Placing occurred in two stages. The second stage, which closed today, provides the Company with gross proceeds of GBP12.6 million (C$19.9 million) through the issuance of 13,353,038 units (each, a"Unit") at a price of GBP0.95 per Unit. The price per Unit is equal to the 20 day volume weighted average price of the Shares on AIM (the "20 Day VWAP") ending on Wednesday 8 February 2012 (being two trading days prior to the closing of the second stage of the Placing).

Each Unit comprises one ordinary share in the capital of the Company (a"Share") and one-half of one ordinary share purchase warrant (a"Warrant"). Each whole Warrant issued pursuant to the Placing is exercisable for one additional Share at 120% of the Unit price per share for three years from the date of issue. The exercise price of the Warrants issued in the second stage of the Placing is GBP1.14.

The Warrants are subject to a forced exercise provision, at the Company's discretion, provided that the 20 Day VWAP exceeds a 20% premium to the Warrant exercise price and the average trading volume of the Shares during such period exceeds one million shares. The Warrants are subject to a cashless exchange right, exercisable at the discretion of the holder, in the event that the 20 Day VWAP is less than the exercise price of the Warrants. In such event, the holder may exchange the Warrants for such number of Shares calculated by reference to the Black-Scholes value of the Warrants divided by the last closing price of the Shares on the AIM market of the London Stock Exchange plc ("AIM") at such time. The cashless exchange right is only exercisable by the holder during the period commencing 20 trading days and ending six months following the closing of the second stage of the Placing.

Additional Information

Dundee Securities Ltd. ("Dundee") acted as financial advisor to the Company with respect to the Placing. A fee in the amount of 4.5% of the gross proceeds of the Placing is payable by the Company to Dundee at closing of each of the respective stages of the Placing.

The closing of this second stage of the Placing is subject to final acceptance from the TSX-V. Except in accordance with Canadian securities laws and with the prior written approval of the TSX-V, the Shares underlying the Units and the Shares issuable upon exercise or exchange of the Warrants may not be sold or otherwise traded on or through the facilities of the TSX-V or otherwise in Canada or to or for the benefit of a Canadian resident until the date that is four months and one day from the date of issue.

Application has been made for admission ("Admission") to AIM of the 13,353,038 Shares underlying the Units issued in the second stage of the Placing, and dealings are expected to commence on 13 February 2012. The Shares shall rank pari passu in all respects with the Company's existing issued ordinary shares of no par value. At Admission, Socius will hold 11.7% of the Company's issued share capital.

Following Admission of the Shares issued in the second stage, the Company's enlarged issued share capital will comprise 223,153,787 Shares with one voting right per share. There are no shares held in treasury. The total number of voting rights in the Company is therefore 223,153,787. At Admission, the number of un-exercised Warrants issued in the first and second stage of the Offering will be 14,274,166. In addition, at Admission there will be 350,000 other outstanding warrants to subscribe for Shares.

This figure of 223,153,787 Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the Financial Service Authority's Disclosure and Transparency Rules or pursuant to the AIM Rules for Companies.

This press release shall not constitute an offer for sale of the securities referenced herein in the United States. The securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States absent registration or an exemption from those registration requirements.

ENQUIRIES:

Xcite Energy Limited                         +44 (0) 1483 549 063
Richard Smith                Chief Executive
                             Officer

Rupert Cole                  Chief Financial
                             Officer

Oriel Securities (Joint Broker and Nomad) +44 (0) 207 710 7600

Emma Griffin                 Partner

Simon Edwards                Partner


Morgan Stanley (Joint Broker)                +44 (0) 207 425 8000

Andrew Foster                Managing Director


Pelham Bell Pottinger                        +44 (0) 207 861 3232

Mark Antelme                 Director

Henry Lerwill                Account Director


Paradox Public Relations                     +1 514 341 0408

Jean-Francois Meilleur       Consultant

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Oriel Securities which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for Xcite Energy and for no one else in connection with the subject matter of this announcement and will not be responsible to anyone other than Xcite Energy for providing the protections afforded to its clients or for providing advice in connection with the subject matter of this announcement.

Morgan Stanley which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for Xcite Energy and for no one else in connection with the subject matter of this announcement and will not be responsible to anyone other than Xcite Energy for providing the protections afforded to its clients or for providing advice in connection with the subject matter of this announcement.

Forward-Looking Statements

Certain statements contained in this announcement constitute forward-looking information within the meaning of securities laws. Forward-looking information may relate to the Company's future outlook and anticipated events or results and, in some cases, can be identified by terminology such as "may", "will", "should", "expect", "plan","anticipate", "believe", "intend", "estimate", "predict", "target","potential", "continue" or other similar expressions concerning matters that are not historical facts. These statements are based on certain factors and assumptions including expected growth, results of operations, performance and business prospects and opportunities. While the Company considers these assumptions to be reasonable based on information currently available to us, they may prove to be incorrect. Forward-looking information is also subject to certain factors, including risks and uncertainties that could cause actual results to differ materially from what we currently expect. These factors include risks associated with the oil and gas industry (including operational risks in exploration and development and uncertainties of estimates oil and gas potential properties), the risk of commodity price and foreign exchange rate fluctuations and the ability of Xcite Energy to secure financing. Additional information identifying risks and uncertainties are contained in the Company's annual information form dated October 26, 2010 and in the annual Management's Discussion and Analysis for Xcite Energy dated November 15, 2011 filed with the Canadian securities regulatory authorities and available at www.sedar.com. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.

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END


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Source: Xcite Energy Limited

SCOTTSDALE, Ariz.--(BUSINESS WIRE)-- GPS Insight, a leading technology provider of GPS fleet tracking solutions for commercial and government fleets, announced today that their software has proven to help Crescent Electric Supply Company run more efficiently by extending the life of each vehicle and improving estimated delivery times.

In one month’s time, Crescent’s Salt Lake City branch saw a mileage reduction of 1,605 miles. This reduction saved the branch $4,815 in fuel. “The real savings is getting two more years of life out of each of our vehicles. A new extended van costs $47,000,” Burnett Thackery, Warehouse Manager at Crescent Electric Supply Company, noted. This ROI was achieved due to more efficient routing, eliminating unauthorized usage, and monitoring maintenance on each vehicle.

The GPS Insight Fleet Tracking Solution has improved Crescent Electric Supply Company’s estimated delivery times as well. The “Alerts” feature allows the company to automatically notify a foreman 10 minutes before arrival, via text message, as they enter the jobsite perimeter. The foreman is then able to have his employees ready to unload the delivery. CESCO is often given preferential treatment due to their proactive notification of arrival time to delivery locations.

Thackery concluded by stating, “GPS Insight has been extremely valuable in the success of my warehouse. The support from the GPS Insight support staff has been unparalleled, and the ability to manage our company assets and have them a click away is simply awesome!”

Read the entire Case Study for the full story.

About GPS Insight:

GPS Insight is a leading supplier of reliable GPS tracking, navigation, and messaging technology for fleet-based customers. They utilize high-quality GPS hardware and add the technology, customization and enhancements which fleet-based companies demand. Using the GPS Insight solution, companies realize a significant increase in efficiency, and gain insight into all aspects of their fleet operations. Current location, unlimited history, Garmin integration, engine diagnostics, routing, reports, alerts, and messaging all combine to provide the ideal platform for fleet-based companies. GPS Insight provides highly flexible solutions, which include a wide range of customized reports, alerts, and other features that can be tailored to meet specific customer requirements and ensure maximum return on investment.

GPS InsightRyan Driscoll, 866-477-4321 x8003Marketing ManagerRyan.Driscoll@gpsinsight.comwww.gpsinsight.com

Source: GPS Insight

CALGARY, ALBERTA -- (MARKET WIRE) -- 02/10/12 -- Since June 1999, McLean & Partners Wealth Management has grown to be one of Canada's leading independent wealth management companies. The firm continues to focus on serving high net-worth private client investors and there is a tremendous opportunity in how this market is served. Over the years, this niche market has become highly competitive and it is evident that over the next decade investment firms will need to evolve to stay relevant. McLean & Partners specializes in first hand research, portfolio risk management, and exceptional client relations.

To broaden the leadership of the organization, Brent McLean has appointed Kevin Dehod as President. Brent will continue his role as Chief Executive Officer, as he focuses his time on the strategic direction and vision for McLean & Partners.

Kevin Dehod is a founding partner of McLean & Partners and has 19 years of investment management experience. Kevin's expertise lies in asset allocation strategies, private client management, corporate leadership, and business operations. As Kevin's role evolves from Vice President to President, he will be responsible for overseeing the day-to-day operations of the company, and continue his role as a Portfolio Manager.

Kevin has a deep understanding of the industry, and his corporate leadership skills will serve him well in his new role. McLean & Partners has a number of initiatives planned, and Kevin will play a key role in executing these strategies.

McLean & Partners Wealth Management is a Calgary based investment company, offering discretionary portfolio management to high-net-worth families. The company has an in-house research team and manages global portfolios through both segregated accounts and five distinct private pools. Find out more at www.mcleanpartners.com.

Mclean & Partners Wealth Management is a member of the Canadian Investor Protection fund and the Investment Industry Regulatory Organization of Canada.

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Contacts:
McLean & Partners Wealth Management
Carmen Tsang
403-234-6118
ctsang@mcleanpartners.com

Source: McLean & Partners

TORONTO, ONTARIO -- (MARKET WIRE) -- 02/10/12 -- The CPP Fund ended the third quarter of its fiscal year on December 31, 2011 at $152.8 billion, up $520 million from $152.3 billion at the end of the second quarter on September 30, 2011.

The $0.5 billion increase in net assets after operating expenses resulted from investment income of $3.2 billion, or a 2.1% rate of return. Seasonal cash outflows from the Fund were $2.6 billion during the quarter. The CPP Fund routinely receives more CPP contributions than are required to pay benefits during the first part of the calendar year and then returns a portion of those funds for benefit payments in the latter part of the year.

For the nine months ended December 31, 2011, the CPP Fund increased by $4.6 billion from $148.2 billion at March 31, 2011. This increase in net assets after operating expenses is comprised of $3.3 billion in investment income, representing a 2.2% rate of return, and contributions of $1.6 billion. For the 10-year period ended December 31, 2011, the Fund generated $52.7 billion of investment income reflecting an annualized investment rate of return of 5.7%.

"The CPP Fund's return this quarter was primarily attributable to the gains realized in the public equity and bond markets, and the Fund's overall year-to-date performance also benefitted from our active management programs," said David Denison, President and CEO, CPP Investment Board. "This balance across our investment programs contributes to greater resilience in the Fund's returns even in turbulent market conditions.

"One of the highlights of our investment activities during the quarter was the completion of the acquisition of Kinetic Concepts, Inc., a leading global medical technology company, by a consortium comprised of CPPIB, Apax Partners and PSP Investments for a total transaction value of approximately $6.2 billion. This represents the second largest global private equity transaction in calendar 2011 and marks the third consecutive year that CPPIB has participated in the largest or second largest private equity transaction globally."

Long-term sustainability

The Chief Actuary of Canada conducts a financial review of the Canada Pension Plan every three years. In the latest triennial review completed in November 2010, the Chief Actuary reaffirmed that the CPP remains sustainable at the current contribution rate of 9.9% throughout the 75-year period of his report. The report also indicates that CPP contributions are expected to exceed annual benefits paid until 2021, providing a nine-year period before a portion of the investment income from the CPP Fund will be needed to help pay pensions.

Investment Portfolio Update

We announced a number of investments during the quarter, including:

--  On December 21, 2011, entered into an agreement to form a 60/40 joint
    venture with Brazilian-based Aliansce Shopping Centers to jointly
    acquire a 22% interest in Shopping Iguatemi Salvador. At closing,
    CPPIB's ownership interest in the mall will be approximately 14%.
    Shopping Iguatemi Salvador is one of the most dominant shopping malls in
    Brazil located in the fast growing northeast region of the country.

--  Completed an $80 million investment in Montreal-based GENIVAR Inc., a
    leading Canadian engineering consulting services firm, through a private
    placement on December 21, 2011.

--  On December 13, 2011, committed an additional $257 million in the
    Goodman China Logistics Holding joint venture. This joint venture, of
    which 80% is represented by CPPIB, was initially formed with Australian-
    based Goodman Group in 2009 to own and develop logistics facilities in
    China.

--  Acquired the royalty interest in prescription drug VICTRELIS" from
    Dendreon Corporation for $127 million on December 6, 2011.

--  Announced an equity line commitment of up to $100 million in Teine
    Energy Ltd. on November 25, 2011. Teine is a private Canadian oil and
    gas exploration and development company based in Calgary.

--  On November 4, 2011, completed the acquisition of Kinetic Concepts, Inc.
    (KCI), a leading global medical technology company, by a consortium
    comprised of CPPIB, Apax Partners and the Public Sector Pension
    Investment Board for US$68.50 per common share in cash or a total value
    of approximately $6.2 billion including KCI's debt.

--  On October 14, 2011, announced a 50/50 joint venture with Oxford
    Properties for the development of RBC WaterPark Place, a 930,000-square-
    foot Class AAA LEED Gold office tower in downtown Toronto. The
    development will add a major state-of-the-art office tower to CPPIB's
    Canadian real estate portfolio and will house the head office of RBC's
    Canadian banking business.

--  Entered into a definitive agreement alongside Ares Management LLC and
    the Gold/Schiffer family on October 11, 2011 to acquire discount
    retailer 99 Cents Only Stores, for US$22.00 per share in cash. 99 Cents
    Only Stores has a strong market position and attractive store economics
    in a growing retail sector. The transaction closed on January 13, 2012.

We also announced several significant investments following quarter end:

--  A joint venture agreement with Ivanhoe Cambridge and its Brazilian
    affiliate Ancar Ivanhoe Shopping Centres on January 18, 2012 to jointly
    acquire a 49% interest in Botafogo Praia Shopping, a prime shopping
    destination located in Rio de Janeiro, Brazil; CPPIB's ownership
    interest in the mall is 24.5%.

--  Completed the acquisition of a 24.1% stake in the Gassled Joint Venture
    alongside two consortium partners. The total transaction value, as
    announced on June 6, 2011, is approximately $3.18 billion. Gassled owns
    the majority of the gas transport infrastructure on the Norwegian
    Continental Shelf.


Asset Mix
---------------------------------------------------------------------------
For the period ending December 31, 2011
($ billions)
---------------------------------------------------------------------------

Investment Portfolio                                          $           %

Equities
  Public                                                   52.5        34.4
  Private                                                  25.0        16.3
                                                     ----------  ----------
                                                           77.5        50.7
Fixed income                                               48.4        31.6
(includes bonds, money market securities, other debt
 and debt financing liabilities)

Inflation-sensitive assets
 Real estate                                               14.4         9.5
 Infrastructure                                             8.6         5.6
 Inflation-linked bonds                                     4.0         2.6
                                                     ----------  ----------
                                                           27.0        17.7
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Investment Portfolio(1)                                   152.9       100.0

---------------------------------------------------------------------------
(1)Excludes non-investment assets such as premises and equipment and
non-investment liabilities

Five and 10-Year Returns
(for the period ending December 31, 2011)
----------------------------------------------------------------------------
                       Investment Rate of Return      Investment Income
----------------------------------------------------------------------------
5-Year Annualized                1.8%                   $13.9 billion
----------------------------------------------------------------------------
10-Year Annualized               5.7%                   $52.7 billion
----------------------------------------------------------------------------

Note: All figures in Canadian dollars unless otherwise noted.

About CPP Investment Board

The CPP Investment Board is a professional investment management organization that invests the funds not needed by the Canada Pension Plan to pay current benefits on behalf of 18 million Canadian contributors and beneficiaries. In order to build a diversified portfolio of CPP assets, the CPP Investment Board invests in public equities, private equities, real estate, inflation-linked bonds, infrastructure and fixed income instruments. Headquartered in Toronto, with offices in London and Hong Kong, the CPP Investment Board is governed and managed independently of the Canada Pension Plan and at arm's length from governments. At December 31, 2011, the CPP Fund totaled $152.8 billion. For more information about the CPP Investment Board, please visit www.cppib.ca.

Contacts:
CPP Investment Board
Linda Sims
Director, Media Relations
(416) 868-8695
lsims@cppib.ca
www.cppib.ca

Source: CPP Investment Board

WEST KELOWNA, BRITISH COLUMBIA -- (MARKET WIRE) -- 02/10/12 -- COLORADO RESOURCES LTD. (TSX VENTURE: CXO) ("Colorado" or the "Company") is pleased to announce it has completed $500,000 of expenditure requirements under the terms of an Exploration Agreement with Kinross Gold Corporation (TSX: K)(NYSE: KGC), one of the world's leading senior gold producers. Based on the results of the exploration conducted under the terms of the agreement, Kinross has elected to opt-in as a 50 - 50 Joint Venture partner with the Company on the Red Sky property.

The Red Sky property ("Red Sky" or the "Property") is located south of the community of Redstone approximately 150 kilometres by road west of Williams Lake, BC. The Property has the potential to host copper-gold porphyry style mineralization similar to Taseko's Prosperity deposit as well as bulk tonnage gold mineralization similar to that found on Amarc's Newton property located approximately 30 kilometres southeast of Red Sky.

The work program funded by the Company consisted of geological mapping, till and rock chip sampling, induced polarization and magnetometer geophysical surveying and 628 metres of diamond drilling in four widely spaced holes. The drilling was undertaken to test a partially open, 600 x 1,000 metre chargeability anomaly in an area covered by glacial overburden that is up-ice from copper, zinc, gold and silver geochemical anomaly defined by detailed till sampling.

The drilling intersected mainly andesitic volcanic rocks cut by multiple intrusive bodies. Numerous faults with associated clay alteration, variable sulphide accumulations, minor silicification and potassic alteration were observed within broader zones of weak to moderate propylitic alteration. This type of alteration pattern is typically observed on the margins of porphyry copper systems. Analytical results were also consistent with the geochemical signature often observed on the margins of porphyry copper systems, where the central copper mineralization is commonly surrounded by a halo of elevated zinc values. In particular, Hole RS11-04 returned a 101.4 m intercept grading 0.26% zinc. A more detailed summary of the results of the 2011 exploration program can be found on the Company's website at www.coloradoresources.com.

Company President Adam Travis states, "I am very pleased that within one field season we were able to use focused geochemical and geophysical techniques in an area of extensive overburden cover to identify and initially evaluate a drill target. We look forward to working together with Kinross in 2012 to further test the Property with a program of geophysics and drilling."

About Colorado

Colorado is currently engaged in the business of mineral exploration for the purpose of acquiring and advancing mineral properties located in British Columbia and the Yukon and is also aggressively seeking properties in Latin America. Colorado's primary focus is on the Oro Property located in the MacMillan Pass area of the Yukon, in which it has the option to acquire a 100% interest.

This scientific and technical information contained in this news release has been reviewed by Greg Dawson, P.Geo. of the Company, and a Qualified Person ("QP") as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

ON BEHALF OF THE BOARD OF DIRECTORS OF COLORADO RESOURCES LTD.

Adam Travis, President and Chief Executive Officer

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking information within the meaning of Canadian securities laws. Such information includes, without limitation, information regarding proposed exploration activities. Although the Company believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking information as a result of various factors, including, but not limited to, the state of the financial markets for the Company's equity securities, the state of the market for gold or other minerals that may be produced generally, recent market volatility; variations in the nature, quality and quantity of any mineral deposits that may be located, the Company's ability to obtain any necessary permits, consents or authorizations required for its activities, to raise the necessary capital or to be fully able to implement its business strategies and other risks associated with the exploration and development of mineral properties. The reader is referred to the Company's prospectus dated September 16, 2010 for a more complete discussion of such risk factors and their potential effects, a copy of which may be accessed through the Company's page on SEDAR at www.sedar.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts:
Colorado Resources Ltd.
Adam Travis
President and Chief Executive Officer
(250) 768-1511 or Toll Free: 1 888 860 2666

Colorado Resources Ltd.
Terese Gieselman
Chief Financial Officer and Secretary
(250) 768-1511 or Toll Free: 1 888 860 2666
(250) 768-0020 (FAX)
www.coloradoresources.com

Source: Colorado Resources Ltd.