WINNIPEG, Feb. 12 /CNW/ - Donald Benson, Chairman and Chief Executive
Officer of Nordic Oil and Gas Ltd. (TSXV: NOG) ("Nordic" or, "the Company"),
announced today that both an Environmental Report and Land Surveys for surface
leases have been completed in Preeceville, Saskatchewan, Canada on the land
where the Company will be drilling its first two exploration wells. Nordic is
now awaiting proximity approvals and expects to be in position to apply for
the well licenses later this week.
In January, the Company announced that it had selected two initial well
locations to commence its drilling program in Preeceville, where it previously
announced the discovery of numerous oil seeps.
"With the completion of the Land Surveys, we will now apply for the well
licenses," stated Mr. Benson. "However, before we can begin drilling we must
secure approval from the Saskatchewan Ministry of Environment on our
Environmental Report, which has been vetted by the Company."
Mr. Benson went on to state that it will take approximately 20 working
days for the Ministry of Environment to conclude their review of the Report.
"Given this timeframe, we continue to anticipate that drilling of the
first two wells in Preeceville will commence in March," he added. "When
acknowledging both our large land base in the area and the substantial seismic
we have shot, along with the Geo-Chem samples and the extensive analysis of
the oil seeps, we are confident that the possibility exists for one or more
pools to be identified on our property."
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, should change.
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:email@example.com,