WINNIPEG, June 2 /CNW/ - Donald Benson, Chairman and Chief Executive
Officer of Nordic Oil and Gas Ltd. ("Nordic" or, the "Company"), today
announced that the Company has seen some indications of the presence of oil
during the drilling of its first well at Preeceville, Saskatchewan.
"Our site geologist has advised us that he has found an oil film and
droplets of oil in the drilling fluid coming over the shaker, and that he has
seen some oil staining on samples taken," Mr. Benson said. "Analysis of the
stained samples has shown the existence of fluorescents, an indication that
oil may be present. Furthermore, our site geologist has also stated that some
samples have good porosity."
However, due to the intersection of faults, the well deviated and the
drilling tools became lodged in the hole and cannot be dislodged. As a result,
the well is being abandoned and the rig will be deployed to the second site
where drilling will commence this week.
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
Company 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 Company 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 Company's management on the date the statements are made. The Company
undertakes no obligation to update these forward-looking statements in the
event that management's beliefs, estimates or opinions, or other factors,
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;