North Sea Energy Inc., through its wholly owned subsidiary North Sea Energy (UK N02) Ltd. (NSE-2) has commenced the Bagpuss Site Survey and should be completed in the next 7 days. The purpose of the survey is to collect high resolution digital seismic, soils data and a full range of environmental data that is required by DECC prior to drilling of the initial Bagpuss well. The Bagpuss well is currently scheduled to be drilled in Q3 2015, subject to normal approvals.

In addition, the Bagpuss joint-venture partners recently received approval from DECC to move into the second phase of the Bagpuss Promote licence (4 year initial term, drill or drop decision by end 2nd year) by demonstrating financial, technical and environmental capacity to be in place, in addition to a firm commitment to drill the Bagpuss well.

Tags: North Sea Energy Inc.