Donald Benson, Chairman and CEO of Nordic Oil and Gas is pleased to announce that the fifth of five previously standing and cased wells at Lloydminster, which were drilled last year, is now completed and on production.
Nordic and its partners in the region are planning to drill two new wells in Lloydminster before the end of this year, and have identified two other wells for re-entry. As such, when all wells are on production, Nordic will have a 33 1/3% interest in 18 wells at Lloydminster by the end of 2010 or early 2011.
The company is currently arranging for a rig to drill its exploration wells at Endeavour where the company believes Seismic has confirmed the existence of a reservoir, a salt cap seal and a seismic high. Drilling the first well which is within 2 miles of a 1958 well that had oil shows in six formations gives the company a strong belief that a discovery will be made.