Well to Undergo Acid Squeeze As Soon As Possible
WINNIPEG, Jan. 18 /CNW/ - Donald Benson, Chairman and CEO of Nordic Oil
and Gas Ltd. (the "Company" or "Nordic"), (TSXV: NOG) provided the
following update with regard to the Company's 4-11-35-4 W2 well site in
"After more than two weeks of work, we have completed perforating, but
continue to swab the four separate intervals that we previously
identified. We collected in excess of 100 samples during this time and
all were sent to the laboratory in Calgary for analysis. The Lab
findings were then sent to Petro-Find Geochem ("Petro-Find") - the
company that made the initial discovery of the oil seeps in the region
back in 2008 - to evaluate the BTEX concentrations in Red River
Formation fluids obtained by swabbing."
Petro-Find President, Paul Lafleur *, P.Eng., provided the following
interpretation of the samples:
"Analysis of 11 fluid samples exhibit significantly high concentrations
of benzene indicative of oil accumulations," he stated. "Of particular
significance is swab PB26Z (combined swab for intervals 937-939.5,
927-930, 917-920.5,), which shows a benzene level of 2.55 PPM, plus
significant concentrations of toluene, ethyl benzene, and xylene, along
with an abnormally high concentration of C8-C10 (2.8 PPM)."
In most cases, concentrations of benzene in Formation brines associated
with oil reservoirs are around 5 PPM. However, Mr. Lafleur noted that
there are exceptions to this: "The West Texas Wolfcamp is the one major
exception - the Formational brines contain 2.5ppm benzene, the same
concentration as found in PB26Z at Endeavour.
"The results from the well completion, including possible acidification
of the Red River Formation, should be correlated with findings of my
report," Mr. Lafleur added.
"While the information contained in Mr. Lafleur's Report encourages the
Company to continue work on this well, it must also be noted that this
does not specifically indicate at this time that we have a productive
well, or that we are directly in an oil pool," Mr. Benson stated. "Much
work must still be done, commencing with the acidization of the well as
soon as possible.
"Toward this end, we will be mobilizing the equipment to perform the
acid squeeze as soon as it becomes available," said Mr. Benson, who
further indicated that the Company may also be fracing the well. "We
will not be able to undertake the fracing until early February given
that no equipment is available to do the job until then, but we expect
to have the acidizing completed shortly," he said.
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
* Paul Lafleur is a graduate Geological Engineer from the Colorado
School of Mines and a graduate of the University of Western Ontario. He
has many years of experience practicing his Profession as a geologist,
engineer and mineral economist. During the last eight years, Mr.
Lafleur has been engaged as a Geological Engineer to conduct
geochemical soil gas surveys for oil and gas. Currently, he is the
President of Petro-Find Geochem Ltd. of Saskatoon SK.
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.
SOURCE Nordic Oil
For further information:
Don Bain, Corporate Secretary
Nordic Oil and Gas Ltd.