WINNIPEG, April 7 /CNW/ - Donald Benson, Chairman and CEO of Nordic Oil
and Gas Ltd. (the "Company" or "Nordic"), (TSXV: NOG), is pleased to
announce that the Company has acquired from an arm's length vendor, a
100% interest in the natural gas rights to a section of land in
Lloydminster, Alberta known as 04-50-3-W4M. As part of this purchase,
Nordic has also acquired a fully equipped standing well bore already
tied-in to a nearby pipeline system.
"Our geological team has determined that the well can be perforated at a
new interval," Mr. Benson stated. "With this in mind, we expect to have
the workover on the well completed shortly and the well on stream by
the end of April."
In addition, Nordic has also obtained a seismic option for the oil
rights to this particular section. "Over the next four months or so, we
will acquire trade data or perhaps shoot new seismic, or do both," Mr.
This section of land that the Company has acquired is approximately 1
mile from Nordic's existing production in Lloydminster.
"We are very pleased with this new acquisition and believe that in
addition to natural gas production, this could very well lead to
substantial heavy oil development in the not-to-distant future for
Nordic Oil and Gas," Mr. Benson added.
About Nordic Oil and Gas Ltd.
Nordic Oil and Gas Ltd. is a junior oil and gas company engaged in the
exploration and development of oil, natural gas and Coal Bed Methane in
Alberta and Saskatchewan. The Corporation is listed on the TSX Venture
Exchange and trades under the symbol NOG. Nordic was one of the "2008
TSX Venture 50" companies, a ranking of the top 10 public venture
capital companies in five industry sectors listed on the TSX Venture
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of the contents of
this News Release.
This press release contains forward-looking statements with respect to
Nordic Oil and Gas Ltd. properties, and matters concerning the
business, operations, strategy, and financial performance of Nordic.
These statements generally can be identified by use of forward-looking
words such as "may", "will", "expect", "estimate", "anticipate",
"intends", "believe" or "continue" or the negative thereof or similar
variations. Such forward-looking statements are qualified in their
entirety by the inherent risks and uncertainties surrounding future
expectations, including that the estimates and projections regarding
the properties are realized. Forward-looking statements are based on a
number of assumptions which may prove to be incorrect. Unless otherwise
stated, all forward looking statements speak only as of the date of
this press release and Nordic does not undertake any obligation to
update such statements except as required by law.
SOURCE Nordic Oil
For further information:
Don Bain, Corporate Secretary.
Nordic Oil and Gas Ltd.