North Sea Energy Awarded New Blocks in the UK North Sea

 

Toronto, Ontario – November 29, 2013 – North Sea Energy Inc. (“NSE” or the “Company”) (TSX-V:NUK) is pleased to announce that the UK Department of Energy and Climate Change (DECC) has published a second tranche of licence offers in the 27th Seaward Licensing Round in the UK North Sea in which NSE, together with its partner, EnCounter Oil Limited (“EnCounter”), have been offered two new promote licences. The award includes blocks 19/2 and 19/3 containing the Kipling and Del Monte leads (NSE - 40% interest, EnCounter - 60% interest), and block 18/10 containing the Golden Phoenix lead (NSE - 40% interest, EnCounter – 60% interest). A joint data room to farm-down interests in these blocks will be opened in the New Year. NSE holds its interest in these licences through its wholly-owned subsidiary, North Sea Energy (UK No2) Limited.

 

Kipling and Del Monte Leads – Blocks 19/2 and 19/3

 

The Del Monte lead is a stratigraphic trap within the Upper Jurassic Burns Unit sandstone. At Burns Sandstone level, the crest lies at 5,600 feet and the maximum closing contour is 6,100 feet, giving a potential column height of 500 feet.

 

The Kipling lead is a simple, shallow relief upthrown fault closure. At Burns Sandstone level, the crest lies at 5,525 feet and the maximum closing contour is 5,900 feet, giving a potential column height of 75 feet.

 

Golden Phoenix Lead – Block 18/10

 

The Golden Phoenix lead is a structural trap within the Upper Jurassic Burns Unit sandstone and Middle Jurassic Beatrice Sandstone. The lead lies entirely within the block. At Burns Sandstone level, the crest lies at 3,350 feet, and the maximum closing contour is 3,650 feet giving a potential column height of 300 ft. At Beatrice Sandstone level, the crest lies at 5,400 feet and the maximum closing contour is 6,100 feet, giving a potential column height of 700 feet.

 

About North Sea Energy Inc.

North Sea Energy Inc. (TSXV:NUK) is an oil and gas company that holds a portfolio of high impact plays focused on the Moray Firth in the offshore UK North Sea. These plays include Bagpuss and Blofeld (blocks 13/24c and 13/25), Norfolk and Norfolk East (blocks 12/16b and 12/17b), and Cloud (block 14/29b).

 

For further information, please contact:

 

J. Craig Anderson,

Chairman & CEO

North Sea Energy Inc.

416-366-4700

canderson@northseaenergy.ca

www.northseaenergy.ca

 

Investor Relations:

Shanda Kilborn

416-366-4700

shanda@auburnpartners.com

 

 

Forward Looking Statements:

 

This news release contains certain statements that may be deemed “forward-looking statements.” Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or realities may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

 

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.

 

 

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