License allows for deeper drilling thereby providing additional oil
WINNIPEG, Nov. 19 /CNW/ - Donald Benson, President & CEO of Nordic Oil and Gas Ltd. ("the Company" or "Nordic") announced today that the Company has received the first of its anticipated 10 new well licenses in Lloydminster, Alberta. The new well, 12-14-50-2W4M, has been licensed as an EXPLORATION WELL, as opposed to the Company's previous wells in the region, which are all development wells.
"This is a very significant aspect of the license, as this allows us to drill deeper than normal at this proven oil prone area," Mr. Benson said. "This gives us additional targets that may also be oil bearing, but still leaves us with a development well in the shallower zones if exploration in the deeper regions is unsuccessful."
The Company expects to commence drilling this new well shortly. Furthermore, the Company also anticipates receiving additional exploration well licenses in Lloydminster in the coming days.
In other news, Mr. Benson also stated today that the Nordic well in Joffre, Alberta, which has been drilled to the Viking zone, has been perforated and is about to be further evaluated. The Company is contemplating perforating the Belly River Zone, thereby allowing it to produce from two different zones.
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.
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
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 & Gas Ltd.
For further information: For further information: Don Bain, Corporate Secretary, Nordic Oil and Gas Ltd., Tel. (204) 229-7751, Fax: (204) 943-1829, E-mail: email@example.com, www.nordicoilandgas.com