New Options Issued to Nordic Officers, Directors, Consultants

Donald Benson, Chairman and Chief Executive Officer of Nordic Oil and Gas Ltd., announced that the Board of Directors has approved the granting of 1,570,000 stock options to various officers, directors and consultants of the Company. The options, which are effective immediately, are priced at $0.60 per share and will run for a period of five years from today's date.

The following is a breakdown of the newly issued Nordic Oil and Gas stock options: Donald P. Benson, Chairman & CEO 450,000; Keith Peterson, Secretary-Treasurer 225,000; Michael Mann, Director 225,000; Barry Palka, Director 225,000; Brahm Silverstone, Director 225,000; Don Bain, Consultant 125,000; Donald F. Benson, Consultant 75,000; Earl French, Consultant 20,000.

Following the successful closing of its recent financing, the Company currently has 34,643,309 issued and outstanding Class A Common shares listed on the Toronto Venture Exchange.