North Sea Energy Inc. announced an update regarding the results of the Bagpuss Well 13/25-1. Bagpuss Well Geochemistry Results: A detailed geochemical study has been carried out by Applied Petroleum Technology on a series of wet unwashed drill cuttings, drilling mud samples, and smears of oil recovered from several pieces of down hole testing equipment, all recovered from the Well drilled in the Inner Moray Firth area of the UK North Sea. The main conclusions arising from this study are that the oil discovered in the Bagpuss Prospect well is degraded heavy oil.