|By Marketwired .||
|January 31, 2013 03:08 PM EST||
TORONTO, ONTARIO -- (Marketwire) -- 01/31/13 -- North Sea Energy Inc. ("NSE" or the "Company") (TSX VENTURE:NUK) is pleased to announce the appointment of Mr. Peter Rhys-Davies as Exploration Manager at North Sea Energy, effective immediately. Mr. Rhys-Davies, BSc, MSc, DIC has over 35 years of international experience in the exploration and production ("E&P") sector of the Oil and Gas industry working with such worldwide operators as Phillips Petroleum Company and Conoco Inc. His 20 years of UKCS experience includes roles as Chief Exploration Geologist, Area Exploration Manager and Acquisitions and Divestitures (A&D) Adviser throughout the North Sea and the Atlantic Margin. His skill set includes petroleum geology, petrophysics, geological operations, petroleum economics, A&D as well as E&P business management and finance.
In addition, Mr. Rhys-Davies has now been appointed a Director of NSE's three wholly-owned subsidiaries: North Sea Energy (UK) Limited, North Sea Energy (UK NO2) Limited, and Echo Exploration Limited, replacing Mr. Ian Lisseter, who will be retiring March 1, 2013. Upon Mr. Lisseter's retirement, Mr. Rhys-Davies shall assume the role of Chief Exploration Officer for NSE.
"We at NSE are very pleased to have Peter Rhys-Davies join our team as he brings to us his extensive experience in the North Sea," remarked Craig Anderson, NSE's CEO. "I would also like to thank Ian Lisseter for his valuable contribution to our group of companies over the past two years, and wish him well in his retirement."
About North Sea Energy Inc.
NSE is a UK-focused oil and gas E&P company listed on Tier 1 of the TSX Venture Exchange. NSE is producing light oil from the Jacky field, located in the Inner Moray Firth off the Scottish coast and has acquired licences in nine blocks in the North Sea.
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 timing and completion of the Transaction (including receipt of TSX-V approval), oil reserves 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.
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