Corporate Profile for XCL Ltd., dated Oct. 9, 1998.

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Published Date:   Oct. 9, 1998

Company Name:     XCL Ltd.

Address:          110 Rue Jean Lafitte
                  Lafayette, La. 70508

Main Telephone
 Number:          318/237-0325
Main Telefax:     318/237-3316 or 318/261-0737

Internet Home
 Page Address
  (URL)           N/A

Chairman and CEO: Marsden W. Miller Jr.

Chief Financial
 Officer:         Patrick B. Collins

Investor Relations/
 Public Relations
 Manager:         Alice M. Lafaye

Trading Symbol/
 Exchange:        XCL (American Stock Exchange -- Common Stock)
                  Common Stock also trades on the London Stock
                  Exchange Limited (no symbol used)

Industry:         Oil and gas exploration and production (in China)

Specialist/
Market Makers:    American Stock Exchange:  Specialist/Goin & Co.
                  London Stock Exchange Limited:  Market Makers/
                   S.B.C. Warburg Dillon Read; Winterflood Securities

Company description: XCL Ltd. is an indpedendent oil and gas exploration and production company that focuses on the development of reserves discovered on the Zhao Dong Block, a high-potential area with multiple prospects and reservoir objectives, located in the shallow waters of the Bohai Bay, China. In addition to its activities on the Zhao Dong Block, on Aug. 20, 1998, the company signed a new production sharing contract to appraise and develop the Zhang Dong Block, Bohai Bay, a direct northern and northwestern extension of the Zhao Dong Block, with multiple prospects and reservoir objectives. XCL has expanded also its involvement in other areas of China's rapidly growing energy industry by signing a contract to form a joint venture agreement to blend, distribute and market lubricating oil throughout China and Southeast Asia. -0-

                        For the Year 1997

                 Common Stock Price Per Share (a)
           (as reported by the American Stock Exchange)

                 High:  $13.13

                 Low:   $ 2.81

(a) Adjusted for one-for-fifteen reverse stock split effective Dec.
    17, 1997.