Mr. Craig Anderson reports

NORTH SEA ENERGY ANNOUNCES YEAR-END RESULTS FOR 2013, INCLUDING MANAGEMENT DISCUSSION AND ANALYSIS

North Sea Energy Inc. has released its financial results for the year ended Dec. 31, 2013, along with the related management's discussion and analysis, which is filed on SEDAR. For more detailed information relating to the company's year-end results, please refer to the financial statements along with the related management's discussion and analysis in North Sea's SEDAR filing.

Highlights and recent events for the year ended Dec. 31, 2013:

• Cash on hand of $3,484,565 at Dec. 31, 2013, increased slightly from Sept. 30, 2013: $3,444,647 (Dec. 31, 2012: $6,246,200).
• Liabilities for the company decreased in the amount of $4,611,167.
• In August, 2013, the company secured a farm-in agreement with Maersk Oil North Sea U.K. Ltd. on the Bagpuss and Blofeld prospects, blocks 13/24c and 13/25. Maersk Oil is to carry 100 per cent of North Sea's costs, subject to a cap, to drill the initial Bagpuss prospect exploration well, including a site survey and agreed past costs. Maersk Oil is, also, to carry 50 per cent of North Sea's costs, subject to a cap, on a Bagpuss appraisal well, should one be drilled.
• In June, 2013, the company received an independent prospective resource assessment of its Bagpuss and Blofeld prospects (blocks 13/24c and 13/25) (total gross low, best and high estimate of prospective resources, respectively, of 31 million barrels oil, 138 million barrels oil and 594 million barrels oil).
• The company awarded three new blocks in the second tranche of the 27th UKCS licensing round results (block(s) 18/10a, 19/2 and 19/3).
• Subsequent to the year-end, the company signed a joint bidding agreement for the 28th UKCS licensing round.
• Subsequent to the year-end, the company withdrew from the Jacky field with an effective date of Dec. 31, 2013.

                       SELECTED ANNUAL INFORMATION

                                         As at and for the year ended
                                    Dec. 31,        Dec. 31,        Dec. 31,
                                       2013            2012            2011                                    
                                (except per     (except per     (except per
                                 share data)     share data)     share data)

Revenues                         $2,131,616      $4,075,602      $7,355,434
(Loss) before income tax
expense                         (14,456,877)     (6,877,755)     (6,365,186)
Net (loss)                      (14,456,877)     (5,844,755)     (5,064,186)
Total comprehensive (loss) for
the period                      (14,465,923)     (5,938,395)     (4,998,860)
Basic and diluted net (loss)
per share                           (0.2470)        (0.0999)        (0.0913)

SP Angel

North Sea Energy is pleased to announce that it has appointed SP Angel as an international marketing agent. SP Angel is an investment bank that, formed in 2006, is a member of the London Stock Exchange, an Alternative Investment Market-nominated adviser and a leading resource sector adviser.

We seek Safe Harbor.