Nordic Oil and Gas Provides Insight into Major Initiatives for, Lloydminster, Endeavour, Weyburn, Virden & Drumheller
WINNIPEG, Manitoba - (December 19, 2011) – Further to its News Release dated December 16, 2011 - Nordic Oil and Gas Announces Major Initiatives for Joffre - Donald Benson, Chairman and CEO of Nordic Oil and Gas Ltd. (the “Company” or “Nordic”), (TSXV: NOG), today provided the following insight into the Company’s planned initiatives for the other properties the Company owns:
At Preeceville/Endeavour, the Company plans to re-complete the failed acid job on its well drilled last December to prove a tight oil discovery. In addition we are currently licencing a new well for the drilling of a shallow gas well to prove up a shale gas discovery.
At Lloydminster, AB, where the Company has a 1/3 interest in 16 heavy oil wells and a 100% interest in one gas well, seismic has been completed at the property known as 04-50-3-W4, where the Company had obtained a seismic option for the oil rights. The processing and interpretation should be completed shortly and the best location identified will be surveyed and a new will be licensed in the New Year.
At Weyburn, SK, we are currently in the midst of licencing a new well to test the Bakken formation for light oil. This is expected to lead to a drilling project of up to six wells on the newly acquired land in the area.
At Virden, MB, we have just purchased two lines of existing seismic over our newly acquired four one-quarter sections of land. Once reprocessed and interpreted, we will commence drilling the first of four wells on this highly prospective land where we will be testing the Bakken for light oil.
At Drumheller, AB, the Company, through its 50% owned subsidiary, Green Coal Canada Ltd., plans to drill four to six strat test wells to test the lower Horseshoe Canyon coals for the viability of an Underground Coal Gasification (“UCG”) project. Initial interpretation from existing logs, look very favorable. In addition, the Company is moving ahead with plans to seek out a customer to buy its coal from a planned coal mine where the company has significant amounts of recoverable coal. Furthermore, Nordic is currently planning on selecting a dedicated team of professionals to implement Green Coal Canada’s objectives.
Further to the Company’s previous News Release detailing its plans for Joffre, AB, Nordic is currently arranging permission to survey a new location, which will allow us to licence a new natural gas well.
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.