The 304 AA photoelectron spectrum of Xe has been obtained with high resolution (50 meV or better). In addition to 5p-5s main lines, 8 satellites having intensities of 2-32% have been observed and compared with X-ray data in the binding-energy region of 23.5-28.3 eV. A straightforward assignment with the optically known levels of Xe II was not possible. Various configurations-mixing mechanisms are discussed and attention is drawn to the possibility of misassignments in the optical levels of Xe II.