Nordic Files Preliminary Short Form Base Shelf Prospectus as Part of the $10 Million Equity Line Facility Agreement with Dutchess

WINNIPEG, April 19 /CNW/ - Donald Benson, Chairman and CEO of Nordic Oil and Gas Ltd. (the "Company), (TSXV: NOG), is pleased to announce that the Company has filed a preliminary short form base shelf prospectus dated April 19, 2011.   Pursuant to the terms of the Equity Line Facility Agreement dated March 31, 2011 with Dutchess Opportunity Cayman Fund Ltd., a fund managed by Dutchess Capital Management, II LLC ("Dutchess"), the Company is required to file a preliminary and final short form base shelf prospectus, and a prospectus supplement, to qualify distributions of the Company's shares made to Dutchess pursuant to draw downs made under the $10 million equity line facility (the "ELF").

The material terms of the Equity Line Facility Agreement are set forth in the Company's preliminary short form base shelf prospectus, a copy of which is available on

The ELF and any draw downs made thereunder are subject to receipt of all necessary regulatory approvals and filings, including the approval of the TSX Venture Exchange (the "TSXV").

The Company clarified today that the Equity Line Facility Agreement dated February 11, 2011, the form of which was filed by the Corporation on SEDAR, the agreement dated February 11, 2011 was void.  The Company's press release had previously disclosed that such agreement "was not legal, valid and enforceable".

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 Exchange.

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 news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to United States persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. This news release is not for distribution to United States newswire services or for dissemination in the United States.

This press release contains forward-looking statements with respect to Nordic Oil and Gas Ltd., and matters concerning the raising of additional capital, 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.

SOURCE Nordic Oil

For further information:

Don Bain, Corporate Secretary.
Tel. 204-229-7751
Fax: 204-943-1829

Profil de l'entreprise

Nordic Oil & Gas Ltd.

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