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 Nordic Oil & Gas (NOG.V)

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cvac01
Seasoned Veteran
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Number of posts : 253
Registration date : 2008-03-29

PostSubject: Re: Nordic Oil & Gas (NOG.V)   Thu Jun 12, 2008 12:26 am

NORDIC OIL & GAS LTD.



Transmitted by CNW Group on : June 11, 2008 11:49


Nordic Discovers Oil at Preeceville

WINNIPEG, June 11 /CNW/ - Donald Benson, Chairman and Chief Executive
Officer of Nordic Oil and Gas Ltd. ("Nordic" or, the "Company"), is pleased to
announce that the Company has discovered oil in two formations at Preeceville,
Saskatchewan.
"The well reached the basement earlier today and we are currently
drilling a further 15 metres of overhole to allow for production," Mr. Benson
stated. "In addition, the logging equipment will be arriving later today."
On Saturday, while drilling was underway, the well was also logged after
the Company discovered live oil on the shaker. "After loosing the first well
due to intersecting a fault, we did not want to loose this well without
logging the interval," he added.
Further news will be released following the interpretation of the logs.
"What is required now is the interpretation of the logs, followed by
perforation of the two formations and production testing to determine
formation pressures and flow rates," Mr. Benson said. "After allowing the
cement to cure for a few days, we will be ready to perforate early next week.
"An oil discovery is what we were looking for, and now the all important
thing to determine is the production capability of the well," 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.
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cvac01
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Number of posts : 253
Registration date : 2008-03-29

PostSubject: Re: Nordic Oil & Gas (NOG.V)   Wed Jun 04, 2008 10:50 am

NORDIC OIL & GAS LTD.



Transmitted by CNW Group on : June 4, 2008 12:36


Shale Gas Potential & Preeceville Drilling Update

WINNIPEG, June 4 /CNW/ - Donald Benson, Chairman and Chief Executive
Officer of Nordic Oil and Gas Ltd. ("Nordic" or, the "Company"), today
announced that the second well at Preeceville, Saskatchewan was spud late
yesterday and the surface casing is currently being cemented. It is
anticipated that drilling will take up to eight days to complete.
The Company does not intend to issue any updates during the drilling
process but will do so when drilling is concluded.
In other news, Mr. Benson also stated today that with the heightened
interest in the shale gas play being promoted by others in the region, Nordic
is currently re-evaluating its shale gas well that was drilled in 2006.
"It is being suggested that the recent run-up in the share price of some
of the companies that neighbour our land in Preeceville is due to the
abundance of shale gas in the region," he said. "Our well was perforated in
2006 at four intervals over a period of 10 hours. Management believes that the
Company's consultant should have waited a minimum of 24 hours between
perforation intervals in order to allow the formations to respond to the
perforation.
"Should there be the inflow that we anticipate, the Company will consider
fracing the various intervals," he added.
Unconventional gas sources are becoming a primary target for exploration
within the Western Canadian Sedimentary Basin, including Nordic's Preeceville
lands. "This region is now being heavily explored and Nordic is right in the
middle of it all," Mr. Benson stated.
Nordic has 6,720 gross acres of five-year P & NG leases in Preeceville
plus a further 101,760 gross acres of P & NG permits. The Company has shot
67 kilometres of seismic in the area and it has identified up to
80 exploration and development drilling locations.

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.
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cvac01
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Number of posts : 253
Registration date : 2008-03-29

PostSubject: Re: Nordic Oil & Gas (NOG.V)   Wed Jun 04, 2008 8:48 am

Preeceville Drilling Update
Last Update: 6/2/2008 9:21:27 AM


WINNIPEG, Jun 2, 2008 (Canada NewsWire via COMTEX) -- Donald Benson, Chairman and Chief Executive Officer of Nordic Oil and Gas Ltd. ("Nordic" or, the "Company"), today announced that the Company has seen some indications of the presence of oil during the drilling of its first well at Preeceville, Saskatchewan.

"Our site geologist has advised us that he has found an oil film and droplets of oil in the drilling fluid coming over the shaker, and that he has seen some oil staining on samples taken," Mr. Benson said. "Analysis of the stained samples has shown the existence of fluorescents, an indication that oil may be present. Furthermore, our site geologist has also stated that some samples have good porosity."

However, due to the intersection of faults, the well deviated and the drilling tools became lodged in the hole and cannot be dislodged. As a result, the well is being abandoned and the rig will be deployed to the second site where drilling will commence this week.
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cvac01
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Registration date : 2008-03-29

PostSubject: Nordic Oil & Gas (NOG.V)   Wed Jun 04, 2008 8:43 am

Nordic Oil and Gas Begins Clearing Well Sites in Preparation for Drilling at Preeceville
Last Update: 5/16/2008 12:20:41 PM


WINNIPEG, May 16, 2008 (Canada NewsWire via COMTEX) -- Donald Benson, Chairman and Chief Executive Officer of Nordic Oil and Gas Ltd. ("Nordic" or the "Company"), today announced that the two sites where the wells will be drilled in Preeceville, Saskatchewan, Canada are presently being cleared and readied for the commencement of drilling.

"Based on the road bans being lifted and weather permitting, we anticipate drilling the first well during the week of May 26, 2008," Mr. Benson stated. "Once completed, the rig will then be deployed to the second location where we anticipate drilling to begin during the week of June 2, 2008."

It is expected that it will take between four and five days to drill each well.

In other news, Mr. Benson also stated that the Company has launched its newly revamped and updated website - www.nordicoilandgas.com . The new site is more informative and provides visitors with a more in-depth look at the Company.

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.

%SEDAR: 00015188E

SOURCE: Nordic Oil & Gas Ltd.

Donald Benson, Chairman & CEO, Nordic Oil & Gas Ltd., Tel: (204) 956-5042,
Fax: (204) 897-7154, e-mail:dbenson57@shaw.ca,
www.nordicoilandgas.com

--------------------------------------------

Nordic Oil and Gas Signs Contract for Drilling Rig; Rig to be on Site at Preeceville Today
Last Update: 5/26/2008 11:20:30 AM


WINNIPEG, May 26, 2008 (Canada NewsWire via COMTEX) -- Donald Benson, Chairman and Chief Executive Officer of Nordic Oil and Gas Ltd. ("Nordic" or the "Corporation"), announces that the Corporation has signed a contract with a drilling company to commence drilling the first of two wells on Nordic's Preeceville, Saskatchewan property. Transportation of the rig began early this morning and it should be at the first well site by midday.

Weather permitting, the first well will be spud either late today or on Tuesday, May 27. As stated previously, it is expected that drilling will take between four and five days to complete. The rig will then be moved to the second site, where clearing and preparation is now being completed.

"We have secured one of the best rigs available as we intend to drill to the basement, which is about 1,200 metres in depth," Mr. Benson stated. "Again, weather permitting, we should have both wells drilled by June 9, 2008."

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.

This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described from time to time in Nordic's periodic reports including the annual report. Nordic undertakes no obligation to publicly release the result of any revision of these forward-looking statements to reflect events or circumstances after the date they are made or to reflect the occurrence of unanticipated

--------------------------------------

Drilling Continuing at First Preeceville Well
Last Update: 5/30/2008 12:16:26 PM


WINNIPEG, May 30, 2008 (Canada NewsWire via COMTEX) -- Donald Benson, Chairman and Chief Executive Officer of Nordic Oil and Gas Ltd. ("Nordic" or, the "Company"), today announced that drilling is continuing at the first well site at Preeceville, Saskatchewan, Canada.

"As of earlier today, we are at approximately 450 metres and drilling is proceeding at a pace of about 10 metres per hour," he said. "They are drilling through limestone and it is moving a little more slowly than anticipated.

"Furthermore, as we go deeper, the expectations are that drilling will be even slower. As such, we anticipate that it will be another few days before the well is completed."

Once drilling is completed the well will be logged and cased. Thereafter upon completing interpretation of the logs, perforating of the well would take place.

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.

----------------------------------
Nordic Oil and Gas Announces First Quarter 2008 Results
Last Update: 5/30/2008 6:01:35 PM


WINNIPEG, May 30, 2008 (Canada NewsWire via COMTEX) -- Donald Benson, Chairman and Chief Executive Officer of Nordic Oil and Gas Ltd. ("Nordic" or "the Company") today announced the Company's financial results from operations for the three-month period ended March 31, 2008. All amounts referenced herein are in Canadian dollars.

Revenue from oil and natural gas sales (including liquids, transport revenue and interest earned) during the first quarter of 2008 totalled $149,101 compared to $189,139 in Q1 2007. Although down slightly from a year ago, the Q1 2008 revenue was up when compared to the previous two quarters and is the highest since Q2 2007. In addition, gross profit from operating activities (production revenue minus production costs, not including royalties paid) totalled $88,366 for the quarter ended March 31, 2008, compared to $145,927 for the same period in 2007. Furthermore, revenue from operating activities (cash received from operators minus royalty expense) totalled $121,089 for the quarter ended March 31, 2008, compared to the $157,707 reported in prior year.

Current assets, including cash, term deposits and accounts receivable at the end of the first quarter were 5,847,257, up significantly from the $3,169,248 at the end of 2007. This was due largely to the successful financing completed during the first quarter of the year. Total assets as at March 31, 2008 were $10,882,995, up significantly from the 2007 year-end total of $7,713,059. This was due primarily to the substantial increase in short term investments which increased to $3,907,439 from $204,191 in 2008.

The net loss for the period was also higher than that recorded during Q1 in 2007 - $124,445 versus $115,690. The increase in the 2007 loss can partially be attributed to the rise in the Company's stock based compensation and the General & Administrative (G & A) expenses. Net loss per share in Q1 2008 was $0.0034 compared to a net loss per share of $0.0073 in Q1 2007.

Liabilities and shareholders' equity at the end of March 2008 totalled $10,882,995 compared to $7,713,059 as at December 31, 2007. The increase is due to the rise in accounts payable of $626,879 and the first quarter financings that increased shareholders' equity. Accounts payable rose because of a reclassification of related party receivables and payables.

Overall expenses, not including production costs for the quarter under review, increased to $575,264 from $233,791 for the year prior. The primary reason for the increase in total expenses was the sharp rise in stock option expenses to $284,473 as opposed to nil in Q1 2007 and the increase in G & A expenses to $99,888 from $39,662.

Commenting on the financial results Mr. Benson stated: "We are pleased to see that our revenue has increased when compared to the previous two quarters and we expect this trend to continue in the quarters ahead. In addition, we are also delighted that we are in such a strong cash position at the end of the quarter. Our ability to raise a record amount of money in 2007, coupled with the successful financing that closed in March of this year, we are on the strongest financial ground we have ever been on.

"This will allow us to undertake our most aggressive and largest capital expenditures program in our history, beginning with our exploration drilling initiatives in Preeceville, Saskatchewan and our development drilling activities in both Joffre and Lloydminster, Alberta," he added.

In other news, Mr. Benson also announced today that Nordic has retained Raymond James Ltd. ("Raymond James") to act as the Company's agent for a brokered private placement financing. Raymond James will be offering this financing to a predetermined select group of clients. The Offering will consist of up to 4,166,666 Units ("Units") at a price of $0.60 per Unit for total gross proceeds of $2.5 million.

Each Unit will consist of one Class A common share of the Company issued as a "flow-through share" within the meaning of the Income Tax Act (Canada) and one half of one Class A common share purchase warrant (a "Warrant"). Each whole Warrant will entitle the holder thereof to purchase one non flow-through regular Class A common share of the Company at a price of $0.85 for a period of two years from the date of issuance.

A cash selling commission of 7.5% of the gross proceeds raised will be paid on this transaction to Raymond James Ltd. In addition, Nordic will also grant to Raymond James, broker warrants equal to 8% of the number of Units sold pursuant to the offering. Each broker warrant will entitle the holder thereof to purchase one non flow-through Class A common share of the Company at a price of $0.60 per share for a period of 24 months from the date of issuance. In addition, Raymond James will be paid a corporate finance fee of $10,000 and will be reimbursed for its expenses by the Company

It is expected that the Offering will close on or about June 25, 2008, subject to regulatory approval. All the terms of the Offering are also subject to the approval of the TSX Venture Exchange.

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 Company is listed on the TSX Venture Exchange and trades under the symbol NOG.
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