July 8, 2003

NORDIC OIL AND GAS COMPLETES SUCCESSFUL TESTING OF FIRST NATURAL GAS WELL IN JOFFRE; SEISMIC SURVEY LOOKS PROMISING IN PREECEVILLE

WINNIPEG ­ Donald Benson, Chairman and Chief Executive Officer of Nordic Oil and Gas Ltd., announced today that the Company has completed testing of its first natural gas well at Joffre and that the well flow is testing at 600 MCFD. Mr. Benson stated the company is currently arranging to tie the well in and hopes to have it on production in August.

In addition, Mr. Benson announced that results from the recently completed Seismic Survey in Preeceville Saskatchewan look very promising and the Company is currently planning to drill an exploration well on these lands in which it has some 92,000 acres held under Special Exploratory Permit.

"We are extremely pleased at the progress we have made to date at both Joffre and Preeceville," commented Mr. Benson. "We are excited at the prospects in both areas."

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