Nordic Sets Private Placement for Bakken Drilling Funds

- Nordic Sets Private Placement for Bakken Drilling Funds

Monday, September 12, 2011
Nordic Oil & Gas Ltd.

Donald Benson, President of Nordic Oil and Gas Ltd. ("the Company" or Nordic"), on Monday announced a new non-brokered private placement offering (the "Offering") of up to 30,000,000 units ("Units") at a price of $0.075 per Unit for gross proceeds of up to $2,250,000. Each Unit of the Offering will consist of one Class A common share of the Company issued as a "flow-through share" within the meaning of the Income Tax Act (Canada) and one-half of one Class A common share purchase warrant (a "Warrant"). Each whole Warrant will entitle the holder thereof to purchase one regular Class A common share of the Company at a price of $0.10 per share for a period of 18 months from the date of issuance.

The securities issued pursuant to the Offering are subject to a four-month hold period from the date of issuance. The Company anticipates multiple closings of the Offering in the coming weeks.

Certain finders are expected to assist the Company by introducing potential subscriber(s) to the Offering and, subject to compliance with applicable legislation, will be entitled to receive fees equal to up to 10% of the purchase price of the Units sold pursuant to the Offering, as well as compensation warrants (the "Finder's Warrants") equal to up to 10% of the number of Units sold pursuant to the Offering. Each Finder's Warrant shall entitle the holder thereof to purchase one regular Class A common share of the Company at a price of $0.10 for a period of 18 months from the date of issuance.

All terms of the Offering are subject to the approval of the TSX Venture Exchange.

"It is our intention to use a large portion of the funds raised in this Offering to undertake the drilling of our first exploration well on our Weyburn/Bakken property in southeast Saskatchewan," Mr. Benson stated. "We feel that our Weyburn/Bakken property should be our top priority at this time and we would like to be in position to drill the first well early in the fourth quarter of 2011."

Upon analyzing the seismic shot in the region, Nordic's geophysicist has identified four potential drilling locations on the land. He notes that in addition to the Bakken, the seismic also indicates that both the Midale/Frobisher and Red River zones are prospective as well.

"The offsetting land in the area has been producing from the Midale zone since 1991," Mr. Benson added.

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Nordic American Tankers Expands Fleet by 27%

- Nordic American Tankers Expands Fleet by 27%

Friday, July 29, 2011
Nordic American Tankers Ltd.

Nordic American Tankers announced that Nordic Breeze, the first of the two vessels under construction at Samsung Heavy Industries Co., Ltd., is expected to be delivered to the Company August 23, 2011. This is more than one month earlier than expected.

The second vessel, Nordic Zenith, is expected to be delivered to the Company in the latter part of October 2011 which also is well in advance of the original schedule.

Both vessels are fully financed, and no equity offering is under planning.

Following the delivery of Nordic Breeze and Nordic Zenith, the Company has increased its trading fleet by 27% during 2011, from 15 vessels in 4Q 2010 to 19 vessels in 4Q 2011 -- all suezmax vessels of about 150,000 dwt each -- thereby bolstering the dividend and earnings capacity correspondingly.

As previously advised the market, the dividend and earnings report (including the dividend amount per share) for the second quarter 2011 will be published Monday August 8, 2011 before the opening of the New York Stock Exchange. Dividend will be paid August 31, 2011 to shareholders of record August 19, 2011.

Herbjørn Hansson, the Company's Chairman & CEO, commented, "Going forward, Nordic American is continuously seeking to expand its dividend and earnings capacity through further acquisitions; when the timing is right. Nordic American has ample financial resources and a strong balance sheet. After the delivery of the two Samsung vessels our net debt will still be very small. I am pleased that we will receive the vessels from Samsung earlier than planned, which is a clear advantage."

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Nordic: New Lloydminster Well Starts Production

Nordic: New Lloydminster Well Starts Production

Friday, May 06, 2011
Nordic Oil and Gas Ltd.

Donald Benson, Chairman and Chief Executive Officer of Nordic Oil and Gas Ltd. announced Friday that a new heavy oil well at Lloydminster, Alberta, located at 3D-11-50-02W4 is now on production. This brings to 15 the total number wells that Nordic has a 33 1/3% interest in at Lloydminster.

"The operator of the Lloydminster wells says this new well makes lots of sand which is a sign of a good well," Benson stated. "They will be undertaking a production flush to further enhance production and all signs point in a positive direction."

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.

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