WINNIPEG, Nov. 23 /CNW/ - Donald Benson, President & CEO of Nordic Oil and Gas Ltd. ("the Company" or" Nordic") announced today that the drilling rig is now on site at the Company's 12-14-50-2W 4M well in Lloydminster, Alberta, and that drilling will commence today.
Licensed last week as an exploration well, Nordic will drill this well deeper than it has at previous wells at Lloydminster, giving the Company additional targets that may also be oil bearing. Regardless of the outcome, the Company will still have a development well in the shallower zones if exploration in the deeper regions is unsuccessful.
"This is a very significant well for us and we look forward to the results from the drilling with great anticipation," Mr. Benson stated. Drilling is expected to take between three and four days to complete.
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 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 & Gas Ltd.
For further information: For further information: Don Bain, Corporate Secretary, Nordic Oil and Gas Ltd., Tel. (204) 943-1810, Fax. (204) 943-1829, E-mail: firstname.lastname@example.org, www.nordicoilandgas.com