Xl Energy Limited has informed the Exchange that the Board of Directors of the Company at its meeting held on December 31, 2010, has approved the following : (1) Company has raised Rs. 22,97,06,980/- by issuing 2,29,70,698 Cumulative Redeemable Preference Shares of Rs. 10/- each to banks; (2) Extended the financial year by 3 months to prepare the financial statements for 15 months period ending on March 31, 2011.