Winnipeg, Manitoba (FSCwire) - Donald Benson, Chairman and Chief Executive Officer of Nordic Oil and Gas Ltd. (the “Corporation or Nordic”), is pleased to announce that the corporation recognizes the efforts of Saturn Minerals Inc. symbol SMI. On Tuesday SMI announced the discovery of oil in the Herald, and the upper and lower Yeoman formations which are all within the Red River Formation. This is very good news for Nordic Oil and Gas Ltd in that it has 60 sections of petroleum and natural gas leases approximately 36 miles to the south east of the SMI play.

Nordic Oil and Gas Ltd pioneered in this area starting in 2001 and in 2011 discovered oil in the same zones as SMI has, however the heavy drilling mud used in drilling it’s well made producing the well a challenge. Nordic’s Red River well came in some 100M deeper thus its well pressure should be greater, which is positive. Nordic has never acidized the well as yet so there is still a high probability that the well is capable of production. Based on our logs and swabbing of actual oil from the well it was determined that it has 33 API oil present. An independent Reservoir Engineering firm has assigned probable reserves to the current well and one additional location. Engineering firms assign probable reserves based on science and facts.

While Nordic Oil and Gas Ltd does carry some debt it also has approximately four times the coverage in the form of proved plus possible reserves from our holdings in Saskatchewan, Alberta and British Columbia. "We are not receiving any recognition of our true value," stated Donald Benson, President. “When the dust settles and Saturn and its partners turn back 75% of their holdings to the Crown as mandated by the Special Exploratory Permit requirements, Saturn will own approximately the same holding as Nordic," he said.

Under the circumstances Nordic Oil and Gas Ltd. is discontinuing its current flow through financing and re-evaluating whether or not to consolidate its shares. SMI is trading for 20 times more than Nordic Oil and Gas Ltd and has about the same number of shares outstanding. We have been right all along and when our consultant Paul Lafleur of Petro-Find Geochem Ltd of Saskatoon concluded in 2008 that this was an oil prone area based on oil seeps and soil gas analysis, we traded as high as $0.80 stated Benson.

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, Saskatchewan and British Columbia. The company has current production in Joffre Alberta. 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

Tel. 204-955-5042

E-mail: dbenson57@shaw.ca

Website www.nordicoilandgas.ca

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To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/nordic02122016.pdf

Source: Nordic Oil and Gas Ltd. (TSX Venture:NOG)

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