May 29, 2003

NORDIC OIL AND GAS DRILLS FIRST WELL AT JOFFRE, UNDERTAKES ADDITIONAL SEISMIC AT PREECEVILLE AND NAMES NEW MEMBER TO BOARD OF DIRECTORS

WINNIPEG ­ Donald Benson, Chairman and Chief Executive Officer of Nordic Oil and Gas Ltd., announced today that the Company has drilled its first natural gas well in Joffre on the property known as 3-18-38-24. The well currently is being tested for natural gas reserves.

"We are pleased at the progress we have made to date," commented Mr. Benson. "Preliminary indications suggest that there is natural gas, however testing will continue until full results can be analyzed."

In addition, the Company recently signed an agreement to undertake the shooting of a further 29 kilometres of seismic in Preeceville. This is in keeping with Nordic's announcement earlier this year that following the successful completion of 14 kilometres of seismic, it would contemplate additional seismic surveys over the Preeceville lands.

Mr. Benson also stated that the Company has appointed Brahm Silverstone to its Board of Directors. Mr. Silverstone is a Calgary-based geophysicist with nearly 30 years' experience in the oil and gas industry. Mr. Silverstone has worked for Amoco Petroleum Canada, BP Canada, and ConocoPhillips Canada and has spent close to 9 years as President of his own Exploration Consulting firm. In addition, he spent approximately three years working overseas in England while on secondment from BP Canada and close to two years in Colombia, South America while on contract to the Colombian Oil Company ECOPETROL. Mr. Silverstone earned his Bachelor of Science (B.Sc) Degree from Sir George Williams University (Concordia University) where he received the Mappin Medal for graduating first (out of a class of 167) in Science. He also received a Masters of Science (M.Sc) in Solid State Physics at the University of Waterloo and a Masters of Science (M.Sc) in Geophysics from the University of Toronto. The Board of Directors also has approved the granting of 50,000 share options to Mr. Silverstone.

Nordic Oil and Gas Ltd. 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