WINNIPEG, Dec. 14 /CNW/ - Donald Benson, Chairman and Chief Executive
Officer of Nordic Oil and Gas Ltd. (TSXV: NOG) ("Nordic" or, "the Company"),
announced today that additional laboratory analyses of the Petro-Find Geochem
Ltd. ("Petro-Find") hydrocarbon soil gas surveys undertaken in Preeceville,
Saskatchewan, Canada, strongly supports the discovery of the oil seeps in the
The University of Saskatchewan ("U of S") has completed 60% of its
analysis of the soil gas samples and according to Paul Lafleur, P.Eng.,
President of Petro-Find, "the data indicates a major oil anomaly occurring
along the Piwei River that is coincident with a 400-foot long series of oil
seeps previously discovered.
"The butane values from these samples are between four and five times
higher than some other oil reservoirs in western Saskatchewan, which means
there is definitely a major anomaly occurring here."
Furthermore, Mr. Lafleur also stated that other significant oil anomalies
are indicated, "especially in the northwest quadrant of the property where
additional major oil seeps were found. Natural gas anomalies are indicated in
various regions of the property. These will be defined more precisely once the
remaining analytical data is obtained," he said.
Petro-Find expects to have the remaining analyses back from the U of S
sometime prior to the Christmas break.
"Clearly, this is very exciting news for Nordic Oil and Gas, and we
anxiously await the analyses of the remaining data from the University,"
stated Mr. Benson.
"As we have stated previously, we hope to be in position to apply for a
well license by January 31, 2008 and start drilling within the first quarter.
Our Flow-Through financing, currently being marketed, has been well received
to date, and we plan on announcing a first closing next week," Mr. Benson
added. "The money received from this Offering will finance the drilling of up
to three wells in Preeceville."
Photos of two of the oil seeps can be found on the Nordic Oil and Gas
website - www.nordicoilandgas.com
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.
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,
The TSX Venture Exchange has not reviewed nor accepts responsibility for
the adequacy or accuracy of the contents of this News Release.
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,