Company Receives Licenses to Drill First Two Wells in Lloydminster
WINNIPEG, June 19 /CNW/ - Donald Benson, Chairman and Chief Executive
Officer of Nordic Oil and Gas Ltd. ("Nordic" or, the "Company"), announced
today that the logging has been completed at the Company's well at
Preeceville, Saskatchewan and that the intervals for perforation have now been
identified. The service rig should be on location on Saturday, June 21, 2008,
and it is anticipated that the perforations testing and possible fracture
stimulation will take up to 10 days to complete.
"The condition of the well site was such that there was an unforeseen
delay in de-mobilizing the rig from the site," Mr. Benson stated. "This in
turn has caused a delay in being able to perforate the well."
In other news Mr. Benson also stated that the Company has received well
licenses for the drilling of two new wells in Lloydminster. "Now that we have
these licenses, we expect to commence drilling these two wells shortly," he
Furthermore, with regard to the 11-13-38-25 W4 Belly River well at
Joffre, which was drilled last summer by Desoto Resources Limited ("Desoto"),
one of Nordic's Joint Venture partners, "EnCana Corporation ("EnCana")
objected to us producing the well due to the continuing litigation regarding
the validity of the lease," Mr. Benson stated. "The Alberta Energy and
Utilities Board has ruled in favour of EnCana, however that decision will now
be appealed by Desoto in the Court of Queens Bench."
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.
The TSX Venture Exchange has not reviewed nor accepts responsibility for
the adequacy or accuracy of the contents of this News Release.
This news release contains certain statements that may be deemed
"forward-looking statements". All statements in this release, other than
statements of historical fact, that address events or developments that the
Company expects to occur, are forward looking statements. Forward looking
statements are statements that are not historical facts and are generally, but
not always, identified by the words "expects", "plans", "anticipates",
"believes", "intends", "estimates", "projects", "potential" and similar
expressions, or that events or conditions "will", "would", "may", "could" or
"should" occur. Although the Company believes the expectations expressed in
such forward-looking statements are based on reasonable assumptions, such
statements are not guarantees of future performance and actual results may
differ materially from those in forward looking statements. Factors that could
cause the actual results to differ materially from those in forward-looking
statements include market prices, exploration and drilling success, continued
availability of capital and financing and general economic, market or business
conditions. Investors are cautioned that any such statements are not
guarantees of future performance and actual results or developments may differ
materially from those projected in the forward-looking statements.
Forward-looking statements are based on the beliefs, estimates and opinions of
the Company's management on the date the statements are made. The Company
undertakes no obligation to update these forward-looking statements in the
event that management's beliefs, estimates or opinions, or other factors,
For further information:
For further information: Donald Benson, Chairman & CEO, Nordic Oil & Gas
Ltd., Tel: (204) 956-5042, Fax: (204) 897-7154, E-mail: email@example.com,