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<p>The Department for Business, Energy and Industrial Strategy (BEIS) has received
correspondence from Xcite Energy Limited shareholders in recent months, and I was
sorry to hear of the impact the company’s recent insolvency has had on them. BEIS
and the Oil and Gas Authority continue to monitor the situation. The arrangements
surrounding the sale process and the marketing of the assets is a matter for the court-appointed
liquidators who, I understand, have been in contact with shareholders to explain the
position.</p>
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