Mr. J. Craig Anderson reports

J. CRAIG ANDERSON ANNOUNCES FILING OF EARLY WARNING REPORT IN RESPECT OF NORTH SEA ENERGY INC.

On July 2, 2015, J. Craig Anderson, chairman, president and chief executive officer of North Sea Energy Inc., was granted incentive stock options to purchase 2.65 million shares of North Sea Energy's capital stock, representing 4.47 per cent of North Sea Energy's issued and outstanding common shares on a non-diluted basis or 4.28 per cent of the issued and outstanding common shares, calculated on a partially diluted basis assuming the exercise of Mr. Anderson's stock options. The North Sea Energy options are exercisable into common shares at seven cents per share with an expiry date of July 2, 2018.

Therefore, Mr. Anderson now owns directly and indirectly through his wholly owned company, Anderson Capital Inc., 5,304,262 common shares and 5,950,174 stock options in the company. This represents 8.94 per cent of the company's issued and outstanding common shares on a non-diluted basis and 17.25 per cent taking into account the full conversion of Mr. Anderson's stock options.

The North Sea Energy options were granted by the company's board of directors as part of the company's incentive compensation stock option plan. Mr. Anderson may, from time to time, acquire additional securities of North Sea Energy, dispose of some or all of the existing or additional securities he holds or will hold, or may continue to hold his current position for investment purposes.

A copy of the early warning report may also be found on North Sea Energy's continuous disclosure record at SEDAR.