Cancellation of Xcite Energy Limited and Xcite Energy Resources Licences
We the undersigned demand that all current North Sea Licences allocated to Xcite Energy Limited (XEL) and Xcite Energy Resources (XER) are temporarily suspended forthwith, with a view to finally cancelling the Licence should the Board of Directors and Bondholders not engage further with the Private Shareholders.
XEL is to be liquidated. Please consider invoking the relevant clause in the Model Clauses.
XER has no viable financial future. Please refer to your Petroleum Licensing Financial Guidance: Financial Viability Notes.
This petition is delivered for the direct action of Mr ANDY SAMUEL, Chief Executive of the OGA; Mr GREG CLARK, Business & Energy Secretary; Mr MORTEN SANNES BREDESON Nordic Bondholders Trust (for information)