In addition, Mr. Benson also stated that the Company's Coal Bed Methane (CBM) well in Joffre on section 5-20-38-24 W4, which was drilled and cased earlier this year, will be tied-in and on stream by mid-December.

"We are delighted to finally have the 102-3-24-38-25 W4 well on production, following some unforeseen delays," Mr. Benson stated. "We also look forward to having the new CBM well on stream later this month, which will bring to five, the number of Nordic wells on production by year end."

Plans call for Nordic's Joint Venture partner to drill two new Coal Bed Methane wells on sections 18-38-24 W4 and 24-38-25 W4. It is anticipated that the first well will be drilled no later than January 2006. "These wells will be paid for 100% by our JV partner and we will own a 50% interest in each well," Mr. Benson said.

Regarding the Company's drilling initiatives in Preeceville, Saskatchewan; Mr. Benson noted that drilling has been completed on the 14-14-39-5 W2 well and that it had been cased at a depth of 400 metres.

"The open hole logs are currently being analyzed and cased hole logs will be completed in the next two weeks," he added.

Mr. Benson went on to state that, "this is a very exciting time for Nordic Oil and Gas. The new financing, which will close next week, will pay for the drilling of six new wells in Joffre in early 2006. When combined with our 50% interest in the two new CBM wells, we will start the year with a strong and extensive drilling program in Joffre."