Donald Benson, Chairman and Chief Executive Officer of Nordic Oil and Gas Ltd. reported that both an Environmental Report and Land Surveys for surface leases have been completed in Preeceville, Saskatchewan, Canada on the land where the Company will be drilling its first two exploration wells. Nordic is now awaiting proximity approvals and expects to be in position to apply for the well licenses later this week.
In January, the Company announced that it had selected two initial well locations to commence its drilling program in Preeceville, where it previously announced the discovery of numerous oil seeps.
"With the completion of the Land Surveys, we will now apply for the well licenses," stated Mr. Benson. "However, before we can begin drilling we must secure approval from the Saskatchewan Ministry of Environment on our Environmental Report, which has been vetted by the Company."
Mr. Benson went on to state that it will take approximately 20 working days for the Ministry of Environment to conclude their review of the Report.
"Given this timeframe, we continue to anticipate that drilling of the first two wells in Preeceville will commence in March," he added. "When acknowledging both our large land base in the area and the substantial seismic we have shot, along with the Geo-Chem samples and the extensive analysis of the oil seeps, we are confident that the possibility exists for one or more pools to be identified on our property."
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