WINNIPEG, Manitoba - (April 3, 2012) -Donald Benson, Chairman and CEO of Nordic Oil and Gas Ltd. (the "Company" or "Nordic"), (TSXV: NOG.V), announced today that the Company has entered into a farm-out agreement with 6470239 Manitoba Ltd., the general partner of Nordic Limited Partnership No.1. The agreement provides for the drilling of up to six wells at Tatagwa, Saskatchewan, approximately seven kilometres west of Weyburn.
6470239 Manitoba Ltd. is offering for sale up to 250,000 Limited Partnership Units at $10 per unit for a maximum of $2.5 million. The minimum subscription amount will be $5,000 and is available to qualified accredited investors. Finders who introduce subscribers to the Limited Partnership may be eligible for a finder's fee of up to 10% of the purchase price of the Units purchased by subscribers introduced by such finder.
Limited Partners receive all tax benefits up to 100% of their subscription amount and the investment is both RRSP and TFSA eligible.
"Nordic recently acquired 16 km of 2D seismic data over the land and from the analysis of this seismic data, an un-tested look-a-like feature to the nearby Union Jack Oil Field has been identified," Mr. Benson stated. "This feature not only indicates oil potential from the Midale/Frobisher formation but also indicates potential from the un-tested deeper Bakken and Red River formations."
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 was one of the "2008 TSX Venture 50" companies, a ranking of the top 10 public venture capital companies in five industry sectors listed on the TSX Venture Exchange.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the contents of this News Release.
This press release contains forward-looking statements with respect to Nordic Oil and Gas Ltd. properties, and matters concerning the business, operations, strategy, and financial performance of Nordic. These statements generally can be identified by use of forward-looking words such as "may", "will", "expect", "estimate", "anticipate", "intends", "believe" or "continue" or the negative thereof or similar variations. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations, including that the estimates and projections regarding the properties are realized. Forward-looking statements are based on a number of assumptions which may prove to be incorrect. Unless otherwise stated, all forward looking statements speak only as of the date of this press release and Nordic does not undertake any obligation to update such statements except as required by law.
For additional information, contact:
For additional information, contact:
Don Bain, Corporate Secretary.
Nordic Oil and Gas Ltd.
Tel. 204-229-7751
Fax: 204-943-1829
E-mail: donbain1@mts.net
www.nordicoilandgas.com
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