Drilling Expected to Commence Next week
WINNIPEG, Nov. 30 /CNW/ -Donald Benson, Chairman and CEO of Nordic Oil and Gas Ltd. (the "Company" or "Nordic"), (TSXV: NOG), is pleased to announce that the Company has secured a drilling rig for the first of its two new exploration wells at Endeavour, Saskatchewan.
"The rig will be transported to the 4-11 well site this coming week-end and we anticipate drilling to commence early next week," Mr. Benson stated, adding that drilling will take approximately five days to complete.
The first of the two Nordic wells at Endeavour is within four miles of a 1958 well that had oil shows in six different formations. "This gives the company a strong belief that a discovery will be made," Mr. Benson stated.
"The seismic that we shot confirms the existence of 50 metres of anhydrate and salt, which we feel acts as a seal for the oil.? Furthermore, the 1958 well was drilled on a low, whereas our location is on a structural high, another thing that gives us optimism."
INTERPRETATION
| ??????? ?? | Old 10-25 well drilled in 1958 | ???Proposed new 4-11 well??? |
| Drilled on structural high | NO | YES |
| Salt cap present?? | NO | YES |
| Reservoir present??????????? | YES | YES |
"We are excited to finally begin drilling the first well in Endeavour," Mr. Benson added. "Bearing in mind that the Company has seven contiguous townships of land in this area, a discovery would undoubtedly have a significant impact on the Company and our shareholders."