Company Plans to Complete Exploration Drilling Program by Late 2009 or
WINNIPEG, June 18 /CNW/ - Nordic Oil and Gas Ltd. ("Nordic" or the
"Company"), today announced that Chairman and CEO, Donald Benson and Alberta
Operations Director, Matthew Barnard, will be in Talbot Lake, Alberta today to
inspect the Company's property in the region and to meet with a gas plant
operator in the area. Over the past few days, Nordic has been discussing the
possibility of tying in its future wells to the gas plant, which is owned by a
company that currently operates 38 wells in the vicinity of Nordic's lands.
"In our discussion with this operator, we have learned that their
pipeline right-of-way runs through a portion of our land at Talbot Lake, which
would result in relatively inexpensive tie-in of our wells," Mr. Benson said.
In addition, both Mr. Benson and Mr. Barnard will also be touring the
Nordic property, which is comprised of 7,040 acres (11 sections) of P&NG
leases near Talbot Lake in the Peace River Arch region of northwest Alberta.
"We want to be able to determine how accessible our lands are and will be
looking for logging trails and the like, as a means of access," he stated.
The Nordic land is adjacent to natural gas production from the Blue Sky
and Gething zones at relatively shallow depths - approximately 400 metres for
the Blue Sky and 600 metres for the Gething.
"Historical production looks very promising. When we purchased these
lands in June 2007, the vendor, who is also a geologist, suggested that each
section could be capable of producing .8 BCF of gas," said Mr. Benson.
Of the nearby wells that are producing, one has produced as much 1.2 BCF
while at least three others have produced in excess of 950 MCF. "Given this
level of production in the vicinity of our lands, we feel that the vendor's
suggestion of production of .8 BCF of gas on each section of our property is
reasonable," he added.
The Company will be moving forward with its plans for the Talbot Lake
area and intends to complete its exploration drilling program in late December
2009 or early in 2010.
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.
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
This press release contains forward-looking statements with respect to
Nordic Oil and Gas Ltd. Lloydminster property, 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 Lloydminster property 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.
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; Don
Bain, Corporate Secretary, Nordic Oil and Gas Ltd., Tel. (204) 229-7751, Fax:
(204) 943-1829, E-mail: email@example.com, www.nordicoilandgas.com