Click Here To Go Back To Home Page

September 26, 2005

NORDIC OIL AND GAS HIRES PACIFIC WARNER CAPITAL LTD. TO ASSIST IN FUTURE FINANCING REQUIREMENTS

COMPANY ALSO CONCLUDES PRIVATE PLACEMENT WITH KINETEX INC.

WINNIPEG, MB. (September 26, 2005) ­ Donald Benson, Chairman and Chief Executive Officer of Nordic Oil and Gas Ltd., today announced that the Company has engaged the services of Pacific Warner Capital Ltd. (PWC) of Vancouver as a financial advisor to assist the Company in meetings its goal of maximizing shareholder value.

PWC will provide, as requested by the Company, the following services:

• Assist in certain merger and/or acquisition transactions;
• Identify candidates, negotiate terms and assist in financing and closing requirements;
• Structure equity and debt financing as required;
• Introduce the Company to potential financing sources and negotiate capital transactions;
• Assist in the evaluation of investment opportunities for the Company; and,
• Provide such other services as may be determined by both parties.

The Agreement, which comes into effect on September 26, 2005, will run for a period of 12 months, with either party having the option to terminate it at any time on at least 30 days' prior written notice.

Should PWC introduce Nordic Oil and Gas to any source that the Company has not previously been introduced to, which leads to a contract and closing of any financing ­ debt or equity ­ or any merger, acquisition, business combination, strategic alliance, joint venture, farm-in, partnership or any other commercial relationship, Nordic agrees to pay PWC a commission fee up to a maximum of 10% on total gross proceeds, plus common share purchase warrants up to a maximum of 8% of the total common shares issued pursuant to any financing.

"We are pleased to enter into this agreement with Pacific Warner Capital Ltd. to assist us in our future financing requirements," Mr. Benson stated. "Nordic Oil and Gas is poised to make a significant impact on the Western Canadian energy sector, making the timing of this agreement is most fortuitous."

In other news, Mr. Benson also announced that the Company has concluded a Private Placement Offering with Kinetex Inc. for services rendered. Kinetex has acquired 111,111 Class A Common Shares of the Company at a price of $0.45 per share for seismic services provided to Nordic Oil and Gas. This Private Placement represents partial payment for the most recent seismic work that Kinetex undertook for Nordic in Preeceville, Saskatchewan.

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