Nordic Oil and Gas' new 16-6-50-2 W4 heavy oil well in Lloydminster, Alberta has been on production for one week. The well has been producing from the General Petroleum zone, the first Nordic well to produce from this zone.
In addition, the Company's land consultants have begun the approval process allowing Nordic to proceed with surveying and ultimately the licensing of up to 13 new exploration wells at Lloydminster.
"Funds from the recently announced debenture offering will be used to finance this new drilling program," Mr. Benson said. "We anticipate drilling to commence in November."
In other news, Mr. Benson also stated that Nordic will be drilling a new well in Joffre, Alberta and that the well will be spud by tomorrow. "We will be testing this well in the Viking formation," he added.
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