TORONTO, ONTARIO -- (Marketwire) -- 10/25/11 -- North Sea Energy Inc. ("NSE" or the "Company") (TSX VENTURE: NUK) is pleased to announce the appointment of its Officers for the Company:
J. Craig Anderson - President, Chief Executive Officer & Secretary
Ian G. Lisseter - Chief Exploration Officer
Petya Popova, CA - Chief Financial Officer
C. Brent Austin - Chief Technical Officer
William W. Powers - Chief Operating Officer
The Board of Directors consists of: Hubert-Lance Huet (Chairman), J. Craig Anderson, C. Brent Austin, David Antony, Ian D. Lambert and William W. Powers. The Board has established four committees with the named party as Chair:
Reserves Committee (C. Brent Austin)
Audit Committee (Ian D. Lambert)
Corporate Governance Committee (David Antony)
Compensation Committee (Hubert-Lance Huet)
The Board has granted incentive stock options to purchase an aggregate of 675,000 shares of the Company's capital stock to the officers, director and consultants. These options will have a five year term, exercisable up to October 25, 2016 at an exercise price of $0.80 per share, which price is greater than the Market Price of the Company's shares immediately preceding October 25, 2011.
All stock options and any shares issued on the exercise of stock options will be legended with a four month Exchange hold period commencing on the date the stock options were granted.
About North Sea Energy Inc.
North Sea Energy Inc. (TSX VENTURE: NUK) is a UK oil and gas exploration and production (E&P) company quoted on the Toronto Stock Exchange Venture. We hold a balanced portfolio of licenses, focused on offshore UKCS.
NSE, along with its wholly owned UK subsidiaries, Echo Exploration Limited, North Sea Energy (UK) Limited and North Sea Energy UK (NO 2) Limited, is an E&P company formed in February 2007 with a strategy of building a portfolio of exploration, appraisal and producing assets in the UK North Sea. Currently, NSE is producing light oil from the Jacky field, located in the Inner Moray Firth off the Scottish coast and has acquired six blocks in the North Sea, with a further three blocks pending U.K. Department of Energy and Climate Change ("DECC") approval.
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.
Contacts:
Auburn Partners Inc.
Investor Relations
647-430-8760
shanda@auburnpartners.com
wesleigh@auburnpartners.com
