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March 7, 2007

NORDIC LICENSES TWO NEW WELLS AT JOFFRE

Shareholders Approve Issuance of New Class of Convertible Preferred Shares

WINNIPEG, MB. (March 7, 2007) – Donald Benson, Chairman and Chief Executive Officer of Nordic Oil and Gas Ltd., (TSXV: NOG) (“the Corporation”), today announced that the Corporation has licensed two new wells in Joffre, Alberta, Canada. A well at 6-24-38-25 W4 will be testing the Viking formation, and the Corporation will be testing the Belly River formation at 5-18-38-24 W4.

 “These two new wells are the first of 17 wells planned for the area in 2007,” Mr. Benson stated.

In other news, Mr. Benson also announced that at Nordic’s recent Annual General and Special Meeting, shareholders approved the motion to amend the articles of the Corporation to add to the authorized capital of the Corporation through the issuance of a new class of Convertible Preferred shares, as was initially announced via News Release dated January 25, 2007. The Corporation will immediately commence raising capital through the issuance of the Preferred shares.

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