North Sea Energy 'High Grades' North Sea Portfolio

North Sea Energy Inc. ("NSE" or the "Company") (TSX VENTURE:NUK) announces that
it is in the process of high grading its portfolio of North Sea licenses. To
best utilize the Company's exploration and development funds, our on-going
review prioritizes prospects based on prospective resources, technical and risk
analysis of the potential for each block in our portfolio. Based on this,
certain new blocks are deemed by our qualitative review to have superior
potential compared to some current blocks requiring immediate drilling
decisions. 


As recently announced, NSE, through its subsidiary North Sea Energy (UK No2)
Limited, has been awarded the following blocks in the 27th UKCS licensing round:
13/24c, 13/25 and 14/29b, containing a number of new attractive leads.
Furthermore, NSE has received an indication that it may be awarded three
additional blocks in a second tranche of the 27th UKCS licensing round,
anticipated in Q2 2013 subject to environmental considerations and DECC
approval. As a result, NSE will be relinquishing the following blocks: 22/5c,
15/21d and 13/28b.


On other matters, the 12/30 block containing the Badger prospect is currently
attracting interest in the data room set up by NSE to obtain farm-in partners.


About North Sea Energy Inc. 

NSE 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. 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. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
North Sea Energy Inc.
Craig Anderson
President and Chief Executive Officer
(416) 366-4700
canderson@northseaenergy.ca


Auburn Partners Inc.
Shanda Kilborn & Wesleigh Harkness
647-430-8760
info@auburnparnters.com
North Sea Energy Inc. (TSXV:NUK)
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