NSE Announces Bagpuss Well Timing Update
Toronto, Ontario – April 25, 2016 – North Sea Energy Inc. (“NSE” or the “Company”) (TSX-V: NUK) through its wholly owned subsidiary North Sea Energy (UK NO2) Limited, is pleased to announce that we have been informed by the Bagpuss Operator, Premier Oil UK Limited (“Premier”) that the Ocean Valiant, a semi-submersible rig, is now forecast, subject to completion of Solan operations and DECC approval, to be on site at the Bagpuss prospect on or about May 15th 2016 with the Bagpuss well (“the Well”) being spud shortly thereafter. The reason for the sooner than expected commencement of the Well is due to better that expected progress at Premier’s Solan development site from where the rig is coming. The expected duration of the Well is estimated at 26 days with an additional 4 days for logging and sampling in the success case.
The Company, founded in February 2007, is a UK focused oil and gas exploration and appraisal company quoted on the TSX-V. NSE, along with its wholly owned subsidiary, holds two high impact opportunities in the UK North Sea. These opportunities are the Bagpuss and Blofeld prospects located in blocks 13/24c and 13/25 of the UKCS.
For further information, please contact:
J. Craig Anderson,
Chairman & CEO
North Sea Energy Inc.
Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information. Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Symbol: TSX-V: NUK
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