February 16, 2004

NORDIC OIL AND GAS ANNOUNCES STOCK OPTIONS

WINNIPEG, MB, Feb. 16 /CNW/ - Donald Benson, Chairman of Nordic Oil and Gas Ltd., listed on the TSX Venture Exchange (symbol NOG) announced today that stock options have been extended to the following Directors:

Donald P. Benson 40,000

Keith A. Peterson 25,000

Michael Mann 25,000

Barry Palka 25,000

Brahm Silverstone 35,000

The options are effective February 13, 2004, are exercisable at $0.40 per share and are for a term of five years.

Nordic Oil and Gas Ltd. is a junior oil and gas company listed on the TSX Venture Exchange.

It trades under the symbol NOG.

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