TORONTO, ONTARIO--(Marketwired - Feb. 7, 2017) - North Sea Energy Inc. ("NSE" or the "Company") (TSX VENTURE:NUK) announces the following corporate update:
The Company is pleased to announce that the following two persons have been appointed to the Board of Directors of the Company, effective January 30, 2017:
Harvey M. Lawson - Harvey Lawson has had many years of experience in the management of public companies. He served as CFO of Trade Winds Ventures from 2001 to 2011 until the Company was purchased by Detour Gold Corp. on December 1, 2011. Currently, Harvey is CFO of Alliance Growers Corp. Prior to this, Harvey taught Financial Management at the National University of Singapore, Hong Kong Polytechnic and the BC Institute of Technology. Harvey is an active member of several Angel Investor groups in Vancouver and the Pacific North West where he offers his expertise in reviewing the financials of companies presenting to the Angels, as well as in the Due Diligence process of companies under consideration for investment. Harvey also mentors many young entrepreneurs in the Technology sector.
D. Brett Whitelaw - Brett Whitelaw has been involved in the Resources Industry since 1996. He was a founding director in 2000 of Conquest Resources Limited, which listed through a reverse takeover Conquest Yellowknife. Since then Mr. Whitelaw has been a founding director or Director of four other TSX Venture companies, including Nubian Resources Inc., Pinestar Gold Inc., Swift Resources Inc. and Newcastle Minerals Inc. Mr. Whitelaw has raised several millions of dollars for these companies.
Ian Lambert has been appointed CEO, Harvey Lawson has been appointed CFO, and the Audit Committee consists of Ian Lambert, Harvey Lawson and Brett Whitelaw.
The Company, founded in February 2007, is a UK focused oil and gas exploration and appraisal company quoted on the TSX-V. NSE, along with its wholly owned subsidiary, North Sea Energy (UK NO2) Limited, holds two high impact opportunities in the UK North Sea. These opportunities are the Bagpuss and Blofeld prospects located in blocks 13/24c and 13/25 of the UKCS.
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", "forecast", "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.
In particular, there can be no certainty that analysis of the hydrocarbons and reservoir will result in commerciality being established. Factors which may cause commerciality not to be established include risks and uncertainties such as analysis concluding that the hydrocarbons are not of a commercially interesting grade, logistical challenges associated with extracting in the North Sea, oil prices, access to financing (for a full list of risks please refer to our financial statements and management discussion and analysis filed on www.sedar.com).
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.