WINNIPEG, Sept. 30, 2011 /CNW/ - Donald Benson, Chairman and CEO of
Nordic Oil and Gas Ltd. (the "Company" or "Nordic"), today announced
that another zone is being placed on production in the Company's new
gas well at Lloydminster, Alberta. The Company's 9-4-50-3 W4 natural
gas well at Lloydminster was initially placed on production in July.
"Yesterday, we had 2100kpa of pressure on the casing of the 9-4-50-3 W34
well," Mr. Benson stated. "This well had sanded off and the previous
operator allowed the lease to lapse. As such, we intend to produce the
new zone which we perforated in July up the tubing and the old zone up
Now that the Company has placed this new zone on production,
"indications suggest this will be a very good well for us," he added.
Mr. Benson also stated today that Nordic has a number of additional
things which it expects to conclude in the next week or so, which
should have a positive impact on the price of the Company's stock.
"At Weyburn, we have completed the analysis of the three seismic lines
acquired earlier this year on the existing property, and several
potential drilling locations have been identified," he said. "We have
exercised our option and it is our intention to undertake the drilling
of an exploration well to test the Bakken zone during the fourth
quarter of this year."
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. Nordic was one of the "2008
TSX Venture 50" companies, a ranking of the top 10 public venture
capital companies in five industry sectors listed on the TSX Venture
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 Release.
This press release contains forward-looking statements with respect to
Nordic Oil and Gas Ltd. properties, 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 properties 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.
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SOURCE Nordic Oil
For further information:
Don Bain, Corporate Secretary.
Nordic Oil and Gas Ltd.