Nordic's New Belly River Well Tested 820 MCF/day

Nordic's 11th well in Joffre, Alberta, Canada showed that the middle Belly River zone has gas rates of 18.5 10(3)m(3) at between 649.5 meters and 651 meters. Chairman and CEO, Donald Benson, noted today that the combined 23 10(3)m(3) for the three intervals within the well that was tested, equates to 820 MCF/day.

"This is an extremely significant number and one that suggests to us that we have the potential for a very strong producing well," he stated. "Once on production, this well will have a significant impact on both our production totals and, of course, our bottom line.

"While we are anxious to bring this well onto production quickly, we also recognize the wisdom of waiting until gas prices rise, whereupon we can then realize values that are more meaningful and impactful to the Corporation."

Nordic plans to tie this well into its pipeline system - a distance of 200 meters - and will begin to produce it during the 4th quarter.