Winnipeg, Manitoba (FSCwire) - Nordic Oil and Gas Ltd. (TSXV: NOG), today announced that the Company's financial results from operations for its three and nine months ended September 30, 2015 have been filed on SEDAR – www.SEDAR.com - along with the Company’s Management’s Discussion and Analysis document. The financial statements and the Management’s Discussion & Analysis document can also be found on the Company’s website.
Donald Benson, Nordic Oil and Gas Ltd. President and CEO also stated today that management recently visited the site of the Company’s well at Noel, B.C., which had been re-completed earlier this year. “When we tested the pressure in January it showed 5,450 kpa; when we tested it again in March it showed 6,500 kpa; however when we were there earlier this month, the pressure on the well was 7,500 kpa, which translates into 1,200 psi,” he said.
“In addition, there is a column of water in the well which suggests an even higher pressure,” he added. The Company hopes to begin further testing of the well at the earliest opportunity.
In other new, Mr. Benson also stated today that the Board of Directors of the Company has approved plans for Nordic to undertake a consolidation of its shares, on the basis of up to a 1 for 20 ratio. The final ratio will be determined prior to the announcement of the Company’s next Annual General Meeting of Shareholders.
Mr. Benson also stated that since some of the Company’s debentures are coming due, “We intend to make the holders an offer to have them extended.”
About Nordic Oil and Gas Ltd.
Nordic Oil and Gas Ltd. is a junior oil and gas company engaged in the exploration and development of oil, natural gas and Coal Bed Methane in Alberta and Saskatchewan. The Corporation is listed on the TSX Venture Exchange and trades under the symbol NOG.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the contents of this News Release.
For additional information, contact:
Donald Benson, President and CEO
Nordic Oil and Gas Ltd.
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Source: Nordic Oil and Gas Ltd. (TSX Venture:NOG)
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