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Tuesday, February 4, 2014

North Sea Energy Announces Agreement with Ithaca Energy and Dyas regarding withdrawal from the Jacky Field

 

North Sea Energy Inc. is pleased to announce that, through its wholly owned subsidiary North Sea Energy (UK) Limited (“NSE UK”), the Company has signed an agreement (the “Agreement”) with Ithaca Energy (UK) Limited (“Ithaca”) and Dyas UK Limited (“Dyas”), whereby under the terms of the Agreement, NSE UK agrees to withdraw from the Jacky Field (P.1392, Block 12/21c), effective December 31, 2013. The Agreement settles all outstanding issues and releases the Company of all future costs including decommissioning liabilities from the effective date. An estimate of decommissioning costs for the Jacky Field may be found in NSE’s Q3, 2013 financial statements and MD&A.

 

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Friday, January 3, 2014

North Sea Energy Announces Issuance of Shares

 

North Sea Energy Inc. announces that it has issued 763,636 shares to EnCounter Oil Limited (“EnCounter Oil”) at deemed value of $0.11 per share pursuant to its subsidiary’s joint-bidding agreement between EnCounter Oil and North Sea Energy (UK No2) Limited for obtaining North Sea UKCS licences. EnCounter Oil is a private UK based oil and gas exploration company specializing in prospect generation.

 

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Symbol: TSX-V: NUK

 

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