Nordic Licenses Two New Wells at Joffre



    Shareholders Approve Issuance of New Class of Convertible Preferred
    Shares

    WINNIPEG, March 7 /CNW/ - Donald Benson, Chairman and Chief Executive
Officer of Nordic Oil and Gas Ltd., (TSXV: NOG) ("the Corporation"), today
announced that the Corporation has licensed two new wells in Joffre, Alberta,
Canada. A well at 6-24-38-25 W4 will be testing the Viking formation, and the
Corporation will be testing the Belly River formation at 5-18-38-24 W4.
    "These two new wells are the first of 17 wells planned for the area in
2007," Mr. Benson stated.
    In other news, Mr. Benson also announced that at Nordic's recent Annual
General and Special Meeting, shareholders approved the motion to amend the
articles of the Corporation to add to the authorized capital of the
Corporation through the issuance of a new class of Convertible Preferred
shares, as was initially announced via News Release dated January 25, 2007.
The Corporation will immediately commence raising capital through the issuance
of the Preferred shares.

    Nordic Oil and Gas Ltd. is a junior oil and gas exploration company
listed on the TSX Venture Exchange. It trades under the symbol NOG.

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this News Release.

    %SEDAR: 00015188E




For further information:

For further information: Donald Benson, Chairman & CEO, Nordic Oil and
Gas Ltd., Tel. (204) 956-5042, Fax. (204) 897-7154, E-mail: dbenson57@shaw.ca

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Nordic Oil & Gas Ltd.

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