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November 1 , 2006

DRILLING OF 16-20-38-24 W4 WELL IN JOFFRE COMPLETED; NEW WELL AT 15-12-38-25 W4 TO BE DRILLED

WINNIPEG, MB. (November 1, 2006) - Donald Benson, Chairman and Chief Executive Officer of Nordic Oil and Gas Ltd. (TSXV: NOG) today announced the Company has completed drilling and casing of its 16-20-38-24 W4 well in Joffre, Alberta, Canada and that the rig is now moving to the 15-12-38-25 W4 location, also in Joffre.

As was announced by News Release on October 30, 2006, the 15-12-38-25 W4 well is a directional well originating in 16-12-38-25 W4, and will be tested to the basal belly river formation.

“This will bring to 10 the number of Nordic Oil and Gas wells standing at Joffre, with five currently on production and the other five awaiting tie-in,” Mr. Benson stated.

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