Nordic Completes Perforating; Swabbing Continues at Endeavour Well; High Concentrates of Benzene Found in Numerous Samples Including One at 2.55 PPM Well to Undergo Acid Squeeze As Soon As Possible
WINNIPEG, Manitoba - (January 18, 2011) – Donald Benson, Chairman and CEO of Nordic Oil and Gas Ltd. (the “Company” or “Nordic”), (TSXV: NOG) provided the following update with regard to the Company’s 4-11-35-4 W2 well site in Endeavour, Saskatchewan:
”After more than two weeks of work, we have completed perforating, but continue to swab the four separate intervals that we previously identified. We collected in excess of 100 samples during this time and all were sent to the laboratory in Calgary for analysis. The Lab findings were then sent to Petro-Find Geochem (“Petro-Find”) – the company that made the initial discovery of the oil seeps in the region back in 2008 – to evaluate the BTEX concentrations in Red River Formation fluids obtained by swabbing.”
Petro-Find President, Paul Lafleur *, P.Eng., provided the following interpretation of the samples:
“Analysis of 11 fluid samples exhibit significantly high concentrations of benzene indicative of oil accumulations,” he stated. “Of particular significance is swab PB26Z (combined swab for intervals 937-939.5, 927-930, 917-920.5,), which shows a benzene level of 2.55 PPM, plus significant concentrations of toluene, ethyl benzene, and xylene, along with an abnormally high concentration of C8-C10 (2.8 PPM).”
In most cases, concentrations of benzene in Formation brines associated with oil reservoirs are around 5 PPM. However, Mr. Lafleur noted that there are exceptions to this: “The West Texas Wolfcamp is the one major exception – the Formational brines contain 2.5ppm benzene, the same concentration as found in PB26Z at Endeavour.
“The results from the well completion, including possible acidification of the Red River Formation, should be correlated with findings of my report,” Mr. Lafleur added.
“While the information contained in Mr. Lafleur’s Report encourages the Company to continue work on this well, it must also be noted that this does not specifically indicate at this time that we have a productive well, or that we are directly in an oil pool,” Mr. Benson stated. “Much work must still be done, commencing with the acidization of the well as soon as possible.
“Toward this end, we will be mobilizing the equipment to perform the acid squeeze as soon as it becomes available,” said Mr. Benson, who further indicated that the Company may also be fracing the well. “We will not be able to undertake the fracing until early February given that no equipment is available to do the job until then, but we expect to have the acidizing completed shortly,” he said.
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.
* Paul Lafleur is a graduate Geological Engineer from the Colorado School of Mines and a graduate of the University of Western Ontario. He has many years of experience practicing his Profession as a geologist, engineer and mineral economist. During the last eight years, Mr. Lafleur has been engaged as a Geological Engineer to conduct geochemical soil gas surveys for oil and gas. Currently, he is the President of Petro-Find Geochem Ltd. of Saskatoon SK.
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 additional information, contact:
Don Bain, Corporate Secretary.
Nordic Oil and Gas Ltd.