WINNIPEG, Dec. 29 /CNW/ - Donald Benson, Chairman and CEO of Nordic Oil and Gas Ltd. (the "Company" or "Nordic"), (TSXV: NOG) is pleased to announce that the laboratory analysis of the samples taken from the drilling of the Company's 4-11-35-4 W2 site in Endeavour, Saskatchewan has been completed and that all samples show the presence of hydrocarbons.
In addition, the well logs also suggest that hydrocarbons are present, along with very good dolomite porosity - as high as 21%. Given these results, four separate intervals have been selected for perforating.
Furthermore, the Second White Specks has high resistivities and biogenic gas shows are similar to previous wells drilled on the Nordic acreage.
"We are pleased at the results, both from the lab and those from the logs," Mr. Benson stated. "These are positive signs and we will now proceed with perforating and swabbing the well over the next few days."
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]