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November 28 , 2006

ANALYSIS OF WELL LOGS INDICATES THE PRESENCE OF NATURAL GAS AT NORDIC’S 16-20-38-24 W4 WELL IN JOFFRE

First Draw Down From Debenture Financing to Occur This Week

WINNIPEG, MB. (November 28, 2006) - Donald Benson, Chairman and Chief Executive Officer of Nordic Oil and Gas Ltd. (TSXV: NOG) today announced that the analysis of the well logs on the Company’s 16-20-38-24 W4 well in Joffre, Alberta, Canada has been completed and that initial interpretations indicate a presence of natural gas in the middle and upper Belly River zones.

In addition, Mr. Benson also indicated that logging will commence this week on the Company’s 15-12-38-25 W4 well, also in Joffre.

“Once the analysis of the well logs has been completed on our second well, arrangements will be made for both wells to be perforated,” he stated.

Once these wells have been placed on production, this will bring to seven the number of Nordic Oil and Gas wells currently on production in the Joffre area. In addition, the Company is also awaiting tie-in of three Coal Bed Methane wells drilled earlier this year.

In other news, Mr. Benson also announced today that the first draw down from the Company’s previously announced proposed financing of secured convertible debt instruments of up to $1 million will occur this week. The draw down is expected to be in excess of $500,000.

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