NUK North Sea Energy

North Sea Energy Inc. ("NSE" or the "Company") (TSX VENTURE:NUK) announces its
unaudited financial results for the period ended March 31, 2013. The summary of
the selected financial information should be read in conjunction with the
Company's Condensed Interim Consolidated Financial Statements (Unaudited) and
the related Management Discussion and Analysis for the quarter ended March 31,
2013 dated May 28, 2013, which have been filed on SEDAR (www.sedar.com).  


Financial highlights for the period ended March 31, 2013:



--  In March, the Company opened a data room with its joint venture partner
    for its 40% working interest in Bagpuss and Blofeld (Blocks 13/24 and
    13/25) 
    
--  Cash on hand of $5,133,010 at March 31, 2013 (December 31, 2012,
    $6,246,200) 
    
--  Working capital of $2,641,577 at March 31, 2013 (December 31, 2012,
    $3,203,390) 
    

Selected Quarterly Information                                              
                                                                            
----------------------------------------------------------------------------
                               As at and for the three months ended         
                      ------------------------------------------------------
                                  March 31, 2013             March 31, 2012 
                             (Unaudited) CAD ($)        (Unaudited) CAD ($) 
                         (except per share data)    (except per share data) 
----------------------------------------------------------------------------
 Assets                               19,956,011                 22,361,829 
----------------------------------------------------------------------------
 Long-term liabilities                 4,950,794                  2,601,161 
----------------------------------------------------------------------------
 Shareholders' Equity                 11,679,388                 17,016,317 
----------------------------------------------------------------------------
 Revenues                              1,092,335                  1,622,063 
----------------------------------------------------------------------------
 Loss before income                                                         
  tax expense                           (951,014)                  (558,422)
----------------------------------------------------------------------------
 Net loss                               (951,014)                  (218,422)
----------------------------------------------------------------------------
 Total comprehensive                                                        
  loss for the period                   (933,657)                  (307,447)
----------------------------------------------------------------------------
 Basic net loss per                                                         
  share                                  (0.0162)                   (0.0037)
----------------------------------------------------------------------------
 Diluted net loss per                                                       
  share                                  (0.0162)                   (0.0037)
----------------------------------------------------------------------------



Significant Developments 

On March 20, 2013, the Company through its wholly owned subsidiary North Sea
Energy (UK NO2) Ltd., announced the opening of a joint data room in order to
facilitate the potential of farming out of its Bagpuss (block 13/24c, 40%
working interest) and Blofeld Lead (block 13/25, 40% working interest) in
conjunction with its joint venture partner EnCounter Oil (40% working interest).
The data room will allow parties to evaluate and bid on the opportunities
presented on the aforementioned blocks. A Competent Persons Report ("CPR") on
these blocks has been initiated. Subsequently, the data room generated
considerable interest.


On April 29, 2013, In addition, NSE announced that the seismic acquisition
program over the Badger prospect in UKCS Block 12/30 has been cancelled (NSE -
50% working interest, Premier Oil - 50% working interest). The Company is
reviewing all options in order to establish a way forward to realise the
potential of this block.


About North Sea Energy Inc.

NSE (TSX VENTURE:NUK) is a UK-focused oil and gas exploration and production
("E&P") company listed on 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 an interest in nine blocks in the North Sea.


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.. 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. 


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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