NUK North Sea Energy

North Sea Energy Inc. ("NSE" or the "Company") (TSX VENTURE:NUK) is pleased to
announce that it has closed the farm-in agreement with Maersk Oil North Sea UK
Limited ("Maersk Oil") and has executed a joint operating agreement ("JOA") with
its joint venture partners: Maersk Oil, Premier Oil UK Limited ("Premier"),
EnCounter Oil Ltd. ("EnCounter") and Groliffe Ltd. ("Groliffe") on UK Petroleum
Production Licence P1943 Blocks 13/24c and 13/25 ("Licence"), including the
Bagpuss and Blofeld Prospects. Under the JOA, Premier has taken over as Operator
of the Licence. UK Department of Energy and Climate Change (DECC) has approved
the aforementioned transaction. 


About the Bagpuss and Blofeld Prospects

The Bagpuss and Blofeld Prospects are located on the Halibut Horst, which is a
well-defined basement high within the Moray Firth in the North Sea, United
Kingdom. The Company completed a competent persons report (CPR) on the Prospects
in June 2013, confirming 3.6 billion barrel oil in place potential STOIIP (P10)
(see Company's press release dated June 27, 2013 for further details). The
Company considers the Prospects to be a high impact target and the first well is
planned to be drilled in 2014 or 2015; subject to rig availability. A well on
the Bagpuss Prospect was drilled by Amoco in 1981 and encountered hydrocarbons,
but it was not tested.


Under the farm-in agreement, Maersk Oil is to carry 100% of NSE's costs, subject
to a cap, to drill the initial Bagpuss Prospect exploration well including a
site survey and agreed past costs. In addition, Maersk Oil is to carry 50% of
NSE's costs, subject to a cap, on a Bagpuss appraisal well should one be
drilled. In return, Maersk Oil will acquire a 25% working interest in the
Licence from NSE, which will retain a 15% working interest. Premier has acquired
a 37.5% working interest in the Licence from Groliffe and EnCounter, which have
retained a 7.5% working interest and a 15% working interest respectively. 


About North Sea Energy Inc. 

North Sea Energy Inc. (TSX VENTURE:NUK) is an oil and gas company that holds a
portfolio of high impact plays focused on the Moray Firth in the offshore UKCS.
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). 


Forward-looking statements

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
resources 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. 


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. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
North Sea Energy Inc.
J. Craig Anderson
CEO
416-366-4700
canderson@northseaenergy.ca
www.northseaenergy.ca


Investor Relations:
Auburn Partners Inc.
647-430-8760
shanda@auburnpartners.com
wesleigh@auburnpartners.com

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