Donald Benson, Chairman and Chief Executive Officer of Nordic Oil & Gas Ltd., announced that the Company now has four wells on production at Lloydminster, Alberta, with a further two expected to come on production shortly.
In addition, three new well locations have been identified at Lloydminster and surveying is set to begin shortly, with drilling to follow thereafter.
At Joffre, Alberta, the Company's new Belly River well has been drilled, cased and logged and will come on production in the coming weeks. "We expect this to be a strong producing well for us and will significantly impact our production from the Joffre area," Benson said. Furthermore, the Company will be licensing three new wells at Joffre shortly.
"We now have 10 wells on production in Alberta," stated Benson. "With two more expected in Lloydminster and another four in Joffre, this will bring to 16 the number of wells we will have on production by the fall, resulting in significant increases in both our production volumes and revenue totals."
At Preeceville, Saskatchewan, the drilling rig is expected to be on site in the next few days and weather permitting, the 14-14 well, which was initially drilled to 400 meters in 2005, will be spud next week.
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