Three New Wells to be Drilled at Lloydminster
WINNIPEG, Feb. 8 /CNW/ - Donald Benson, Chairman and CEO of Nordic Oil
and Gas Ltd. (the "Company" or "Nordic"), (TSXV: NOG) announced today
that the Company has been delayed in its attempts to arrange all the
services for the acid job at its 4-11-35-4 W2 well site in Endeavour,
"We have been anxious to commence the acid squeeze at the well, however
we must be patient as services will be hard to come by until break-up
next month," Mr. Benson stated.
"We remain positive and upbeat regarding the potential of this well and
the project in general given the report provided to us by Paul
Lafleur*, P.Eng, President of Petro-Find Geochem ("Petro-Find")," he
added. "Analysis of 11 fluid samples exhibit significantly high
concentrations of benzene indicative of oil accumulations. Of
particular significance is swab PB26Z (combined swab for intervals
937-939.5, 927-930, 917-920.5), which shows a benzene level of 2.55 ppm
plus significant concentrations of toluene, ethyl benzene, and xylene.
As such, it is Mr. Lafleur's belief that the well penetrated either a
new, or the edge of a new oil pool in the Red River Formation. The
abnormally high concentration of C8-C10 (2.8 ppm) in this sample
further supports this finding."
In his report dated January 16, 2011, Mr. Lafleur stated: "The oil found
in the Preeceville/Endeavour area may indicate a new Petroleum System
not seen elsewhere."
With regard to the Company's second well in the Endeavour region located
at 12-22-35-4 W2, Mr. Benson also announced today that the Company is
planning to amend its previously received well license to allow it to
drill the well using nitrogen.
"Nitrogen gas is often used in the drilling process to avoid damaging
fragile shales. This will allow us to test for gas inflow during the
drilling of the shallow portion of the well," he said. "Once we are
through the Colorado Shales, we will revert to a mud system while
drilling our oil targets."
In other news regarding the Company's Lloydminster, Alberta initiatives,
Mr. Benson further announced today that Nordic and its partners in the
region will be undertaking the drilling of three new wells in the area
- C6-24-050-02W4, 3D-11-050-02W4 and C7-14-050-02W4. The project is to
drill, complete, equip and bring onto production each of the three
wells. When completed, this will bring to 17 the number of wells on
production at Lloydminster, and will have a positive impact on the
production totals coming from this area. Nordic has a 33 1/3% interest
in all of the wells at Lloydminster.
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
* Paul Lafleur is a graduate Geological Engineer from the Colorado
School of Mines and a graduate of the University of Western Ontario. He
has many years of experience practicing his Profession as a geologist,
engineer and mineral economist. During the last eight years, Mr.
Lafleur has been engaged as a Geological Engineer to conduct
geochemical soil gas surveys for oil and gas. Currently, he is the
President of Petro-Find Geochem Ltd. of Saskatoon SK.
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.