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February 8, 2005

Nordic Oil and Gas Signs Agreement to Develop Oil and Gas Reserves on Land Owned by Cote First Nation Near Kamsack, Saskatchewan - Nordic to Receive Oil and Gas Permit to Undertake Exploration Activities

WINNIPEG, MB. (February 8, 2005) - Donald Benson, Chairman and Chief Executive Officer of Nordic Oil and Gas Ltd. is pleased to announce that the Company has signed an Agreement with Indian Oil and Gas Canada (IOGC) and the Cote First Nation of Kamsack, Saskatchewan, for development of oil and gas resources on land owned by Cote First Nation.

Under terms of the Agreement, Nordic will be granted access to 6,525 hectares of Cote First Nation land directly north of Kamsack and will receive an Oil and Gas Permit to undertake exploration activities on the property. The Permit is owned jointly by Nordic Oil and Gas Ltd. and Western Warner Oils Ltd.

The Agreement calls for Nordic to carry out seismic sometime this spring, before the frost is out of the ground, then drill a test well during the summer months. If oil and/or gas is discovered, Nordic will be entitled to convert the Permit into a Petroleum and Natural Gas Lease. In return for granting Nordic Oil and Gas access to this portion of its land, Cote First Nation will be paid a royalty as the mineral owners.

"We are proud and honoured to enter into this important agreement with the Cote First Nation, as we continue to look toward developing new and creative approaches to designing business agreements with First Nations people in Western Canada," stated Mr. Benson. "We have found that First Nations leaders are very open to participating in the development of their oil and gas reserves, and we are very much looking forward to working with Chief Whitehawk and the Band Council on this exciting project.

"The Cote First Nation initiative will complement our Joffre, Alberta and Preeceville, Saskatchewan activities, and gives Nordic Oil and Gas three strong prospective areas in Western Canada," added Mr. Benson.

Nordic Oil and Gas is a junior oil and gas exploration company, which is listed on the TSX Venture Exchange and trades under the symbol NOG.

The TSX Venture Exchange has neither approved nor disapproved the contents of this 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