North Sea Energy Announces Annual Results for 2014
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 04/28/15 -- North Sea Energy Inc. ("NSE" or the "Company") (TSX VENTURE: NUK) announces that its financial results for the year ended December 31, 2014 along with the related Management Discussion and Analysis ("MD&A") have been filed on SEDAR (). For more detailed information relating the Company's yearend results, please refer to the financial statements along with the related MD&A filed on SEDAR.
Highlights and Significant developments for the year ended December 31, 2014
(1) The report issued by Deloitte LLP ("Deloitte") on April 30, 2014, utilized the resource and geologic information developed by Senergy (GB) Limited ("Senergy") on June 25, 2013 with an effective date of May 30, 2013. (Please refer to the Company's press release issued on June 27, 2013 for discussion on the risks and level of uncertainty associated with recovery of the resources, the significant positive and negative factors relevant to the estimate of the resources.). Deloitte's economic assessment of the Bagpuss and Blofeld prospects indicates that, on a cumulative basis, the Best, Mean, and High case resource estimates are commercial under the assumed development, pricing, and cost scenarios, yielding after-tax internal rates of return of approximately 18, 28, and 51 percent, respectively.
Subsequent events
SELECTED ANNUAL INFORMATION
Year End Reserves Information
At December 31, 2014, the Company had no oil and gas reserves assigned to its assets. The Company has filed Forms 51-101 F1, 51-101 F2 and 51-101 F3 on SEDAR.
About NSE:
NSE is an oil and gas company that holds a portfolio of high impact interests focused on the Moray Firth in the offshore UK North Sea. These interests include the Bagpuss and Blofeld prospects (blocks 13/24c and 13/25), Norfolk prospects (blocks 12/16b and 12/17b), Del Monte (blocks 19/2 & 19/3) and Golden Phoenix leads (block 18/10a).
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. In particular, forward-looking information in this press release includes, but is not limited to, statements with respect to 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: the ability of the Company to reach an agreement with Gemini to satisfy the arbitration award liability; 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.
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:
North Sea Energy Inc.
J. Craig Anderson
Chairman & CEO
416-366-4700
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 28.04.2015 - 22:02 Uhr
Sprache: Deutsch
News-ID 389238
Anzahl Zeichen: 0
contact information:
Town:
TORONTO, ONTARIO
Kategorie:
Oil & Gas
Diese Pressemitteilung wurde bisher 197 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"North Sea Energy Announces Annual Results for 2014"
steht unter der journalistisch-redaktionellen Verantwortung von
North Sea Energy Inc. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
