October 14, 2003

NORDIC OIL AND GAS COMMENCES TESTING OF SECOND WELL AT JOFFRE, PREPARES FOR DRILLING NEW WELLS AT PREECEVILLE

WINNIPEG, MB. OCTOBER 14, 2003 - Donald Benson, Chairman and Chief Executive Officer of Nordic Oil and Gas Ltd., today announced new initiatives have commenced at the Company's two primary locations, Joffre, Alberta and Preeceville, Saskatchewan.

Nordic Oil and Gas has commenced testing of its second natural gas well at Joffre. Gas detectors indicate the presence of natural gas and testing will be completed by the end of October. The initial natural gas well drilled in May 2003 went onto production on October 1, 2003 and production exceeds volumes that were contemplated before drilling commenced.

"We are very pleased at these early results from our first natural gas well in Joffre," said Mr. Benson. "It underscores our belief in the area and gives us much optimism for the second well that we are about to test."

In Preeceville, Nordic Oil and Gas has received notice from Western Warner Oils Ltd., the operator in the area, that well licenses have been issued for the initial three wells to be drilled. Western Warner has a 20% carried interest in the Nordic lands in Preeceville, and as such, are entitled to be carried for the first five wells.

"We are very high on the prospects for Preeceville and we look forward to the commencement of drilling of these new wells," Mr. Benson added.

In another matter, Mr. Benson also announced today that a further 25,000 stock options have been granted to Nordic Oil and Gas Board member, Brahm Silverstone. The options are priced at $0.40 each and run for a term of five years commencing October 10, 2003. Mr. Silverstone was appointed to the Nordic Board in May of this year.

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.

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