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February 1, 2007 NEWS RELEASE  For Immediate Release Nordic Acquires Compressor Station From Desoto Resources; Signs New Transportation Deal With Atco Pipelines For Immediate Release                                                                                                     WINNIPEG, MB. (February 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 acquired an 85% interest in a compressor station in Joffre, Alberta, Canada, owned by Desoto Resources Limited (“Desoto”), a sister company of Nordic. In conjunction with this, Desoto, which is the operator in the area, has signed a contract with Atco Pipelines (“Atco”), to transport the Company’s gas. This will result in a significant reduction in the costs of the Company’s natural gas production in the region. “Currently, we pay $0.70 per 1,000 cubic feet of gas transported via the existing pipeline system,” Mr. Benson stated. “With the signing of this deal with Atco, we estimate that our costs will drop by 50%. “In addition, this will also allow us to hire our own people to operate our wells, which will further reduce our costs,” he added. “In time, we believe that we will be able to bring other producers into our system and turn the compressor station into a net earner for us, as opposed to an expense.” As part of the Atco deal, Atco will also build a new metering station, approximately 3 kilometres south of the Nordic property. The station will be paid for jointly by Nordic and Desoto. 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