August 24, 2007 Newsrelease

August 24 , 2007

Middle Belly River Comes in Big at Nordic’s New Well in Joffre

WINNIPEG, MB. (August 24, 2007) - Donald Benson, Chairman and Chief Executive Officer of Nordic Oil and Gas Ltd. (“Nordic” or the “Corporation”), today announced that the field measurement results from the two-day flow test on the Corporation’s 11th well in Joffre, Alberta, Canada have shown that the middle Belly River zone had gas rates of 18.5 10³m³ during a one hour flow test. The Belly River formation where the measurement was taken was perforated at between 649.5 metres and 651 metres.

“The gas rate level at the 699.5-metre to 702-metre interval tested at 3.5 10³M³,” Mr. Benson noted. “Given these excellent results, when combined with the Basal Belly River results, we certainly are optimistic that this will be a strong producing well for the Corporation.”

The Corporation plans to tie this well into its pipeline system – a distance of 200 metres – and will begin to produce it during the 4th quarter once gas prices rise.

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 Company is listed on the TSX Venture Exchange and trades under the symbol NOG.

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.

The TSX Venture Exchange has not reviewed nor accepts responsibility for the adequacy or accuracy of the contents of this News Release.

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