WINNIPEG, Nov. 21 /CNW/ - Donald Benson, Chairman and Chief Executive
Officer of Nordic Oil and Gas Ltd. (TSXV: NOG) ("Nordic" or, "the Company"),
announced today that laboratory analyses of four additional samples from the
oil seeps discovered in Preeceville, Saskatchewan, Canada, have all confirmed
the presence of oil.
"All together, evidence of 29 seeps have been found on the property, of
which three were very extensive," said Paul Lafleur, P. Eng., President of
Petro-Find Geochem Ltd., the company hired by Nordic's Joint Venture partner,
Western Warner Oils Ltd. (est. 1926) to undertake hydrocarbon soil gas surveys
in its two most northerly townships in Preeceville, and who made the
discoveries of the oil seeps. "Rock outcrops are absent because of the thick
overburden of glacial till and sediments."
Photos of two of the oil seeps can be found on the Nordic Oil and Gas
website - www.nordicoilandgas.com
"The seeps are currently interpreted as being due to the migration of oil
along open fractures and faults that have intersected oil reservoirs," Mr.
Completion by Petro-Find Geochem of the geochemical soil gas survey is
expected sometime in December, and with the correlation of Nordic's
proprietary seismic surveys, "The Company will have a clearer understanding of
the underlying structures, and we will have a better idea as to where the next
well should be drilled," stated Mr. Benson.
Everette Lee DeGolyer, once regarded by many as the most competent
authority in the petroleum industry, stated in the American Association of
Petroleum Geologists (AAPG) Bulletin, "that oil and gas seeps have resulted in
the discovery of more oil and gas fields than has any other single method".
According to another article in the AAPG, Drs. P. A. Dickey and J. M.
Hunt stated, "Visible seeps are most common around the margins of
petroliferous basins where the oil-bearing sediments crop out. Seeps commonly
occur at the outcrop of a permeable rock unit that constituted an oil
reservoir until the overlying impermeable stratum was breached by erosion or
broken by tectonic activity. Wells drilled near seeps often discover
reservoirs in deeper zones, either directly beneath the seep or downdip within
the same stratigraphic interval."
Furthermore, a report by A. Pyre entitled, "Tectonics and Major
Hydrocarbon Accumulations: Symposium on Petroleum Evolution", said this about
Gulf Oil's activities in the Middle East and Europe some years ago: "Gulf
Research and Development Co. entered Kuwait and Italy on the basis of the
presence of oil seeps. In the Burgan field in the desert of southeastern
Kuwait, which is one of the world's largest and richest oil fields, and in the
Ragusa field of Sicily, the seepage was directly over the fields."
In the coming weeks, Nordic anticipates moving forward with securing an
Environmental Report on the region, followed by a Land Survey. Once these
documents are received, the Company will then be in position to apply for a
well license, which will allow it to commence drilling.
"It is our hope that we will be in position to apply for a well license
by January 31, 2008 and start drilling within the first quarter," Mr. Benson
said. "When acknowledging our large land base, the substantial seismic, along
with the Geo-Chem samples and the current oil seeps analysis, we are confident
that the possibility exists for one or more pools to be identified on our
The Company intends to go back to the market in the near future for
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.
This news release contains certain statements that may be deemed
"forward-looking statements". All statements in this release, other than
statements of historical fact, that address events or developments that the
Corporation expects to occur, are forward looking statements. Forward-looking
statements are statements that are not historical facts and are generally, but
not always, identified by the words "expects", "plans", "anticipates",
"believes", "intends", "estimates", "projects", "potential" and similar
expressions, or that events or conditions "will", "would", "may", "could" or
"should" occur. Although the Corporation believes the expectations expressed
in such forward-looking statements are based on reasonable assumptions, such
statements are not guarantees of future performance and actual results may
differ materially from those in forward looking statements. Factors that could
cause the actual results to differ materially from those in forward-looking
statements include market prices, exploration and drilling success, continued
availability of capital and financing and general economic, market or business
conditions. Investors are cautioned that any such statements are not
guarantees of future performance and actual results or developments may differ
materially from those projected in the forward-looking statements. Forward
looking statements are based on the beliefs, estimates and opinions of the
Corporation's management on the date the statements are made. The Corporation
undertakes no obligation to update these forward-looking statements in the
event that management's beliefs, estimates or opinions, or other factors,
The TSX Venture Exchange has not reviewed nor accepts responsibility for
the adequacy or accuracy of the contents of this News Release.
For further information:
For further information: Donald Benson, Chairman & CEO, Nordic Oil & Gas
Ltd., Tel: (204) 956-5042, Fax: (204) 897-7154, e-mail:firstname.lastname@example.org,