Nordic Licenses New Well in Joffre
Donald Benson, Chairman and CEO of Nordic Oil and Gas Ltd., announced that the Company is licensing its 15-12-38-25 W4 well in Joffre, a directional well originating in 16-12-38-25 W4. Nordic will be testing the new well to the basal belly river formation.
"We feel the prospects for a strong well at this location are good, given our knowledge from the testing we did some 10 years ago on this section of land," Mr. Benson stated.
It is anticipated that the rig, which has been on the Company's 16-20-38-24 W4 site, will be moving to the new location this week.
In addition, Mr. Benson also announced that the farmin agreement, which was previously detailed in a News Release earlier this year, has been completed. The agreement will give Nordic Oil and Gas a 20% interest in a new Mannville well at section 3, twp 57, range 07 W4 by paying 37.5% of the drilling costs and completing a well.
"By drilling a successful well on this site, we will earn a 20% interest in one-and-a-half sections of land east of Edmonton," he said. "These lands are in close proximity to existing pipelines and we expect to drill the well in the last quarter of 2006."
Nordic Oil and Gas is a junior oil and gas exploration company, which is listed on the TSX Venture Exchange and trades under the symbol NOG.
- Nordic Secures Rig for Endeavour Exploration Wells (Nov 30)
- Saskatchewan Govt Gives Nordic Green Light to Drill at Endeavour (Nov 10)
- Nordic Enters ELF Agreement (Oct 29)