North Sea Energy Inc. reported earnings results for the year ended December 31, 2015. For the year, the company reported revenues of CAD 49 against CAD 4,087 a year ago. Loss before income tax expense was CAD 1,842,549 against CAD 6,087,250 a year ago.

Net loss was CAD 1,842,549 against CAD 6,087,250 a year ago. Basic and diluted loss per share was CAD 0.031 against CAD 0.103 a year ago. The company reduced its cash used to CAD 304,107 for operations during the year ended December 31, 2015 compared to CAD 1,856,066 during the year ended December 31, 2014, a reduction of 84% year over year.