WINNIPEG, March 7 /CNW/ - Donald Benson, Chairman and Chief Executive
Officer of Nordic Oil and Gas Ltd. ("Nordic" or, the "Company"), today
announced that the Company has received the first well license with regard to
its upcoming drilling program at Preeceville, Saskatchewan, Canada. Amendments
are currently being made to the survey for the second well license, and the
Company expects that this well will be licensed sometime next week.
"We are currently awaiting approval from Saskatchewan Environment, which,
when received, will allow us to proceed with the commencement of drilling
these wells," Mr. Benson stated.
Furthermore, also at Preeceville, Mr. Benson noted that Petro-Find
Geochem Ltd. who undertook the hydrocarbon soil gas surveys in Nordic's most
northerly permit in Townships 40, Ranges 4 and 5 W2 in Preeceville that led to
the discovery of the 34 oil seeps last October, is in the midst of a follow-up
survey in the region. The survey, which is being concentrated on the Nordic
lands in Townships 38 and 39, Ranges 4 and 5, has resulted in 200 additional
samples having been taken to date. These samples have been forwarded to the
University of Saskatchewan in Saskatoon for analysis.
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.
The TSX Venture Exchange has not reviewed nor accepts responsibility for
the adequacy or accuracy of the contents of this News Release.
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.
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,