Growth Through Successful Exploration and Drilling Strategies
June 18, 2009 NEWS RELEASE
NORDIC PRESIDENT TO INSPECT COMPANY LANDS AT TALBOT LAKE AND VISIT A GAS PLANT IN THE REGION
Company Plans to Complete Exploration Drilling Program by Late 2009 or Early 2010
WINNIPEG, MB. (June 18, 2009) – Nordic Oil and Gas Ltd. (“Nordic” or the “Company”), today announced that Chairman and CEO, Donald Benson and Alberta Operations Director, Matthew Barnard, will be in Talbot Lake, Alberta today to inspect the Company’s property in the region and to meet with a gas plant operator in the area. Over the past few days, Nordic has been discussing the possibility of tying in its future wells to the gas plant, which is owned by a company that currently operates 38 wells in the vicinity of Nordic’s lands.
“In our discussion with this operator, we have learned that their pipeline right-of-way runs through a portion of our land at Talbot Lake, which would result in relatively inexpensive tie-in of our wells,” Mr. Benson said.
In addition, both Mr. Benson and Mr. Barnard will also be touring the Nordic property, which is comprised of 7,040 acres (11 sections) of P&NG leases near Talbot Lake in the Peace River Arch region of northwest Alberta. “We want to be able to determine how accessible our lands are and will be looking for logging trails and the like, as a means of access,” he stated.
The Nordic land is adjacent to natural gas production from the Blue Sky and Gething zones at relatively shallow depths – approximately 400 metres for the Blue Sky and 600 metres for the Gething.
“Historical production looks very promising. When we purchased these lands in June 2007, the vendor, who is also a geologist, suggested that each section could be capable of producing .8 BCF of gas,” said Mr. Benson.
Of the nearby wells that are producing, one has produced as much 1.2 BCF while at least three others have produced in excess of 950 MCF. “Given this level of production in the vicinity of our lands, we feel that the vendor’s suggestion of production of .8 BCF of gas on each section of our property is reasonable,” he added.
The Company will be moving forward with its plans for the Talbot Lake area and intends to complete its exploration drilling program in late December 2009 or early in 2010.
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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the contents of this News Release.
This press release contains forward-looking statements with respect to Nordic Oil and Gas Ltd. Lloydminster property, and matters concerning the business, operations, strategy, and financial performance of Nordic. These statements generally can be identified by use of forward-looking words such as “may”, “will”, “expect”, “estimate”, “anticipate”, “intends”, “believe” or “continue” or the negative thereof or similar variations. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations, including that the estimates and projections regarding the Lloydminster property are realized. Forward-looking statements are based on a number of assumptions which may prove to be incorrect. Unless otherwise stated, all forward looking statements speak only as of the date of this press release and Nordic does not undertake any obligation to update such statements except as required by law.
For additional information, contact:
Donald Benson Don Bain
Chairman & CEO Corporate Secretary
Nordic Oil and Gas Ltd. Nordic Oil and Gas Ltd.
Tel. 204-956-5042 Tel. 204-943-1810
Fax. 204-897-7154 Fax. 204-943-1829
E-mail: dbenson57@shaw.ca E-mail: donbain1@mts.net
