March 29, 2005 Newsrelease

March 29, 2005

NORDIC OIL AND GAS REPORTS SUCCESFUL RESULTS FROM 2-D SEISMIC SURVEYS ON PREECEVILLE PROPERTY

Company Also Acquires Line of Seismic Trade Data in Joffre; Expects To Start Seismic Surveys On Cote First Nation Land In April

WINNIPEG, MB. (March 29, 2005) - Donald Benson, Chairman and Chief Executive Officer of Nordic Oil and Gas Ltd., today announced that 37 kilometres of 2-D seismic data has been successfully acquired in the Company's Preeceville, Saskatchewan area.

Initial analysis has confirmed the structural trends that had previously been mapped in the southern four townships of Nordic's six-township property are seen to extend into the two most recently acquired townships.

"These structural trends in the southern four townships, have produced over 10 possible and four drillable locations, many of them deep exploratory oil and gas targets. Some of these structures are over a Section (one square mile) in size," said Brahm Silverstone, Geophysicist, who is overseeing the analysis of the seismic data on behalf of the Company. "Initial interpretation of this newly acquired seismic data indicates that the northern townships could be more faulted than in the south, and there are expectations that an equal number of drillable locations in this northern area will also be found."

As a result of the preliminary analysis of this new 2-D seismic data, Nordic anticipates drilling at least one and possibly two new deep wells (down to Basement approximately 1,000 metres) this year on its Preeceville property. These wells will be testing multiple zones, possibly up to 10 hydrocarbon bearing formations. The first well is expected to spud this summer.

"We are extremely pleased at the results from these seismic surveys," stated Mr. Benson. "They have confirmed our belief that this shallow, cost-effective target holds great promise for Nordic Oil and Gas and we look forward to drilling our new well at Preeceville later this year."

The Preeceville area is located approximately 100 kilometres north of Yorkton and is situated in an area where Nordic management believes there are large quantities of oil and natural gas trapped along a geological trend called the "Prairie evaporate salt collapse edge." Nordic Oil and Gas has an 80% interest in Special Exploration Permit for Petroleum & Natural Gas rights covering 137,780 acres in the Preeceville area.

In addition to announcing these successful seismic results from Preeceville, Mr. Benson also stated that the Company has acquired a line of seismic trade data in the Joffre, Alberta area. "This data is currently being interpreted and re-processed to determine if it will assist us in exploring for additional shallow gas in Joffre," he said.

Nordic Oil and Gas is also in the process of obtaining licensing of up to 26 kilometres of 2-D seismic on the Company's Cote First Nation's land near Kamsack, Saskatchewan. "We expect that permitting will be in place by the end of April, 2005, which will allow us to complete our seismic surveys in May," Mr. Benson added.

"This should lead us to commence drilling our first well on the Cote First Nation's land by the summer, coinciding with the start of drilling of the Preeceville well."

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.

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

Don Bain
Director, Communications & Investor Relations
Nordic Oil & Gas Ltd.
Tel: 204-229-7751
Fax: 204-334-3764
E-mail: donbain@mts.net