WINNIPEG, April 7 /CNW/ - Donald Benson, Chairman and CEO of Nordic Oil and Gas Ltd. (the "Company" or "Nordic"), (TSXV:NOG.V), is pleased to announce that the Company has acquired from an arm's length vendor, a 100% interest in the natural gas rights to a section of land in Lloydminster, Alberta known as 04-50-3-W4M. As part of this purchase, Nordic has also acquired a fully equipped standing well bore already tied-in to a nearby pipeline system.
"Our geological team has determined that the well can be perforated at a new interval," Mr. Benson stated. "With this in mind, we expect to have the workover on the well completed shortly and the well on stream by the end of April."
In addition, Nordic has also obtained a seismic option for the oil rights to this particular section. "Over the next four months or so, we will acquire trade data or perhaps shoot new seismic, or do both," Mr. Benson said.
This section of land that the Company has acquired is approximately 1 mile from Nordic's existing production in Lloydminster.