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North Sea Energy Shuffles Management Team

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   |    Friday,January 20,2017

North Sea Energy announces the following management changes and board changes.

J. Craig Anderson, Chairman and CEO of NSE, has decided to leave the Company, effective immediately, to pursue other interests. Mr. Anderson has been the CEO of NSE for the last ten years since founding the Company and its Chairman for the past two and a half years. Mr. Anderson oversaw the exploration, appraisal and development of the Jacky field, discovery of the Polly field and recently the drilling of the Bagpuss well that encountered a large amount of hydrocarbons in the UK North Sea.

Petya Popova, CFO of NSE for the past six and a half years, has decided to leave the Company, effective immediately, to pursue other interests. Ms. Popova responsibility included accounting, financial and regulatory requirements as well as assisting in operations and strategic management activities for the Company.

Ian Lambert, a Director of NSE and former CEO of Trade Winds Ventures will assume the role of Interim CEO and CFO. Both Mr. Anderson and Ms. Popova have expressed their willingness to assist NSE in order to ease in the transition.

As a result of the management changes, C. Brent Austin and Larry Leblanc, Directors of NSE have resigned effective immediately. NSE would like to thank both Mr. Austin and Mr. LeBlanc for their service to NSE over the years and to wish them well with their future endeavours.

Forward Plans:

The Company's forward plan is to continue its efforts with respect to the Bagpuss and Blofeld Prospects and will work together with its JV partners to attract farm-in partners.