WINNIPEG, Dec. 23 /CNW/ - Donald Benson, Chairman and CEO of Nordic Oil and Gas Ltd. (the "Company" or "Nordic"), (TSXV: NOG) is pleased to announce the successful completion of drilling at the Company's 4-11-35-4 W2 site in Endeavour, Saskatchewan.
"Shortly after we entered the Red River formation at around 890 metres, we began to see signs of oil coming over the shaker," he said. "Over the course of the drilling of the next 100 metres, a dozen oil samples were retrieved and have been sent to a major laboratory in Calgary for further analysis."
Logging was completed on Wednesday evening and the logs will now be interpreted and analyzed by Nordic's team of geologists.
The drilling of the well took longer than was originally anticipated due largely to the fact that on two occasions the tools got stuck in the hole. "The second time this occurred was when we had just entered the Winnipegosis Sand formation, and we were stuck for some 22 hours before we were able to dislodge," said Mr. Benson.
It is for this reason that the Company decided to T.D. (Total Depth) the well before drilling through the Winnipegosis Sand - the second target zone. "We felt this was the prudent thing to do rather than attempt to proceed where we knew we were having problems and could very well encounter more," Mr. Benson stated.
The Company now awaits the results from the laboratory analysis of the oil samples along with the interpretations of the logs.
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 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.
For further information: For further information:
Don Bain, Corporate Secretary.
Nordic Oil and Gas Ltd.
E-mail: [email protected]