Growth Through Successful Exploration and Drilling Strategies
April 1, 2008 NEWS RELEASE
Nordic Oil and Gas Receives License for Second Exploration Well at Preeceville
Four new major oil anomalies also discovered in the region
For Immediate Release
WINNIPEG, MB. (April 1, 2008) - Donald Benson, Chairman and Chief Executive Officer of Nordic Oil and Gas Ltd. (“Nordic” or, the “Company”), today announced that the Company has received the second well license with regard to its upcoming drilling program at Preeceville, Saskatchewan, Canada.“We are pleased to have now received the licenses for both wells, however we continue to wait for approval from Saskatchewan Environment, which we require before we can proceed with the commencement of drilling these wells,” Mr. Benson said.
“At the same time, we also acknowledge that spring break-up will soon be upon us in the region and therefore we must also concede that the commencement of drilling these two wells will now occur in May,” he added.
In other news, Mr. Benson also stated today that the Company has received a preliminary report from Petro-Find Geochem Ltd. (“Petro-Find”), which has been conducting additional surveys in the area. According to Petro-Find President, Paul Lafleur, P.Eng., four new major oil anomalies were discovered, including one in the vicinity of the Western Warner Warman well at 14-14-39-5W2.
"'The most exciting find is a major oil anomaly in TWP 38, which is believed to be associated with a significant fracture/fault structure," Mr. Lafleur said.
The survey, which concentrated on the Nordic lands in Townships 38 and 39, Ranges 4W2 and 5W2, was of the reconnaissance type and samples were taken every 300 metres to ensure that fractures/faults and associated hydrocarbons were intersected.
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.
The TSX Venture Exchange has not reviewed nor accepts responsibility for the adequacy or accuracy of the contents of this News Release.
This news release contains certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical fact, that address events or developments that the Corporation expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Corporation believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploration and drilling success, continued availability of capital and financing and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Corporation’s management on the date the statements are made. The Corporation undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
For additional information, contact:
Donald Benson
Chairman & CEO
Nordic Oil & Gas Ltd.
Tel: 204-956-5042
Fax: 204-897-7154
E-mail: dbenson57@shaw.ca
