Growth Through Successful Exploration and Drilling Strategies

November 20, 2007 NEWS RELEASE  For Immediate Release Nordic Oil and Gas Ltd. Announces Second Closing of Private Placement Offering THIS PRESS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR FORDISTRIBUTION TO U.S. NEWS WIRE SERVICES WINNIPEG, November 20, 2007 - Mr. Donald Benson, Chairman and Chief Executive Officer of Nordic Oil and Gas Ltd. (the "Corporation"), today announced the second closing of its previously announced private placement offering (the "Offering") of units of the Corporation (the "Units") at a price of $0.20 per Unit. The Corporation issued 3,600,000 Units for aggregate gross proceeds of $720,000 to various subscribers. Each Unit consisted of one Class A common share of the Corporation and one half of one Class A common share purchase warrant (a "Warrant"). Each whole Warrant entitles the holder to purchase one Class A common share of the Corporation at a price of $0.30 for a period of two years from the date of issuance. The securities issued pursuant to the Offering are subject to a hold period of four months and one day in accordance with applicable securities laws and the policies of the TSX Venture Exchange.    MAK Allen & Day Capital Partners was paid a finder's fee of $30,000 and was issued 200,000 Warrants as partial compensation for their services.   Commenting on the closing, Mr. Benson stated: "We acknowledge the fact that this financing is priced well below current market value. However, the Private Placement that has been concluded today was undertaken over the past few weeks prior to the Company announcing the discovery of the oil seeps in Preeceville, which, in recent days, has subsequently resulted in a sharp upturn in the Nordic share price.   "It is our intention to go back to markets in the near future for additional financing at a price considerably higher than the $0.20 per Unit closing of this Offering," he added.     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. The TSX Venture Exchange has not reviewed nor accepts responsibility for the adequacy or accuracy of the contents of this News 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