February 26, 2003

NORDIC OIL AND GAS ACQUIRES LAND OPTIONS FOR ADDITIONAL 480 ACRES NEAR JOFFRE

WINNIPEG (February 26, 2003) - Donald Benson, Chairman and Chief Executive Officer of Nordic Oil and Gas Ltd., an oil and gas company, announced today that Nordic has acquired an option to purchase the P & NG rights to an additional 480 acres of land adjacent to its existing property in Joffre, Alberta.

The Company already owns a quarter section and the acquisition of these additional 480 acres would give them a full section of land, thereby allowing them to drill for gas on the property.

"We are contemplating drilling a well either to the base of the Belly River formation or the Viking formation," Mr. Benson stated.

Joffre, the Company's core area, is located in west-central Alberta, approximately 30 kilometres northeast of Red Deer, and is a rich hydrocarbon area of the province. Nordic Oil and Gas Ltd. currently is listed on the TSX Venture Exchange (TSXV: 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