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In addition, the Company's land consultants have begun the approval process allowing Nordic to proceed with surveying and ultimately the licensing of up to 13 new exploration wells at Lloydminster.
"Funds from the recently announced debenture offering will be used to finance this new drilling program," Mr. Benson said. "We anticipate drilling to commence in November."
In other news, Mr. Benson also stated that Nordic will be drilling a new well in Joffre, Alberta and that the well will be spud by tomorrow. "We will be testing this well in the Viking formation," he added.
About Nordic Oil and Gas Ltd.
Nordic Oil ad 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. 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. 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 & Gas Ltd., Tel: (204) 956-5042, Fax: (204) 897-7154, E-mail: dbenson57@shaw.ca; Don Bain, Corporate Secretary, Nordic Oil and Gas Ltd., Tel. (204) 229-7751, Fax: (204) 943-1829, E-mail: donbain1@mts.net; www.nordicoilandgas.com
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