|December 31, 2014 CAD ($)||December 31, 2013 CAD ($)||December 31, 2012 CAD ($)|
|Shareholders' (Deficit) Equity||(8,168,546)||(1,852,878)||12,474,196|
|Loss before income tax expense||(6,087,250)||(14,456,877)||(6,877,755)|
|Total comprehensive loss for the period||(6,399,668)||(14,456,877)||(5,938,295)|
|Basic and diluted net loss per share||(0.103)||(0.247)||(0.100)|
Year End Reserves Information
At December 31, 2014, the Company had no oil and gas reserves assigned to its assets. The Company has filed Forms 51-101 F1, 51-101 F2 and 51-101 F3 on SEDAR.
NSE is an oil and gas company that holds a portfolio of high impact interests focused on the Moray Firth in the offshore UK North Sea. These interests include the Bagpuss and Blofeld prospects (blocks 13/24c and 13/25), Norfolk prospects (blocks 12/16b and 12/17b), Del Monte (blocks 19/2 & 19/3) and Golden Phoenix leads (block 18/10a).
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. In particular, forward-looking information in this press release includes, but is not limited to, statements with respect to oil reserves and future revenues. 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. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada, the United States, UK and globally; industry conditions, including fluctuations in the prices of oil and natural gas; governmental regulation of the oil and gas industry, including environmental regulation; unanticipated operating events or performance which can reduce production or cause production to be shut in or delayed; failure to obtain industry partner and other third party consents and approvals, if and when required; competition for and/or inability to retain drilling rigs and other services; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; volatility in market prices for oil and natural gas; liabilities inherent in oil and natural gas operations; competition for, among other things, capital, acquisitions of reserves, undeveloped lands, skilled personnel and supplies; incorrect assessments of the value of acquisitions; geological, technical, drilling, processing and transportation problems; changes in tax laws and incentive programs relating to the oil and gas industry; failure to realize the anticipated benefits of acquisitions and dispositions; and the other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
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