Nordic Oil and Gas announced that Chairman and CEO, Donald Benson and Alberta Operations Director, Matthew Barnard, will be in Talbot Lake, Alberta today to inspect the Company's property in the region and to meet with a gas plant operator in the area. Over the past few days, Nordic has been discussing the possibility of tying in its future wells to the gas plant, which is owned by a company that currently operates 38 wells in the vicinity of Nordic's lands.
"In our discussion with this operator, we have learned that their pipeline right-of-way runs through a portion of our land at Talbot Lake, which would result in relatively inexpensive tie-in of our wells," Mr. Benson said.
In addition, both Mr. Benson and Mr. Barnard will also be touring the Nordic property, which is comprised of 7,040 acres (11 sections) of P&NG leases near Talbot Lake in the Peace River Arch region of northwest Alberta. "We want to be able to determine how accessible our lands are and will be looking for logging trails and the like, as a means of access," he stated.
The Nordic land is adjacent to natural gas production from the Blue Sky and Gething zones at relatively shallow depths -- approximately 400 meters for the Blue Sky and 600 meters for the Gething.
"Historical production looks very promising. When we purchased these lands in June 2007, the vendor, who is also a geologist, suggested that each section could be capable of producing .8 BCF of gas," said Mr. Benson.
Of the nearby wells that are producing, one has produced as much 1.2 BCF while at least three others have produced in excess of 950 MCF. "Given this level of production in the vicinity of our lands, we feel that the vendor's suggestion of production of .8 BCF of gas on each section of our property is reasonable," he added.
The Company will be moving forward with its plans for the Talbot Lake area and intends to complete its exploration drilling program in late December 2009 or early in 2010.
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