Nordic Oil and Gas has received the first of its anticipated 10 new well licenses in Lloydminster, Alberta. The new well, 12-14-50-2W4M, has been licensed as an exploration well, as opposed to the Company's previous wells in the region, which are all development wells.

"This is a very significant aspect of the license, as this allows us to drill deeper than normal at this proven oil prone area," said Donald Benson, President and CEO of Nordic Oil and Gas. "This gives us additional targets that may also be oil bearing, but still leaves us with a development well in the shallower zones if exploration in the deeper regions is unsuccessful."

The Company expects to commence drilling this new well shortly. Furthermore, the Company also anticipates receiving additional exploration well licenses in Lloydminster in the coming days.

Tags: Nordic Oil and Gas Ltd.