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Donald Benson, Chairman and Chief Executive Officer of Nordic Oil and Gas Ltd. ("the Company" or "Nordic"), announced today that the Company has completed drilling a new heavy oil well on its Llolydminster, Alberta property. The 16-6-50-1 W4 well was drilled and cased over the past week-end and will be perforated later this week.
The well was TD'd ('Total Depth drilled') in the General Petroleum (GP) zone, "and the logs have indicated that we have pay in both the Sparky and GP zones," said Mr. Benson. The Company will be testing two intervals in the Sparky and one in the GP, with Mr. Benson adding, "This is the first time we have had any shows in the GP zone."
In addition, Nordic will also be re-perforating its 10-22-50-2 W4 well in Lloydminster later this week. "When this job is completed, and when we bring the new well on stream, we will have eight heavy oil wells on production in Lloydminster."
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.
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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.
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This press release contains forward-looking statements with respect to Nordic Oil and Gas Ltd. Lloydminster property, 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 Lloydminster property 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.
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SOURCE: Nordic Oil & Gas Ltd.
Donald Benson, Chairman & CEO, Nordic Oil and Gas Ltd., Tel: (204) 956-5042, Fax: (204) 897-7154, E-mail: dbenson57@shaw.ca; Don Bain, Corporate Secretary, Nordic Oil & Gas Ltd., Tel. (204) 229-7751, Fax: (204) 943-1829, E-mail: donbain1@mts.net; www.nordicoilandgas.com
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