Mr. Donald Benson reports

NORDIC OIL AND GAS LTD. ANNOUNCES FIRST CLOSING OF FLOW-THROUGH FINANCING EXTENSION TO NOEL FARM-IN

Nordic Oil & Gas Ltd. has completed the first closing of the recently announced flow-through offering in the amount of $100,000. The subscription is for five million units consisting of five million flow-through shares and five million warrants to purchase shares at any time over the next five years at five cents per share.

In other news, the corporation is pleased to advise it has received an extension to the previously announced farm-in at Noel, British Columbia. Nordic has until Dec. 1, 2014, to recomplete the existing Cadotte well. Proceeds from the closing of today's financing will be used to begin the process of recompleting the existing well at Noel and to license the new Cardium well to be drilled on the existing well site. The land consultant which the company has hired to license the well advises it takes approximately two months to license a well these days in B.C. The recompletion earns the company's interest in these lands, but the real prize is in the Cardium zone where potential exists for a high-producing liquids-rich gas well with plenty of condensate.

"We will now push on to fully subscribe the current financing, and upon completion, we will move ahead with our plans to tie in a well drilled in 2009 at 6-24-38-25 W4 along with the workover on the 11-13-38-25 W4 well at Joffre," Donald Benson, chairman and chief executive officer, stated.

"We are currently working with an interested investor group regarding a joint venture on our 60-section holding in Sturgis area of Saskatchewan. In that regard, upon closing the remainder of the financing, we will reacquire the surface lease at 12-22-35-4 W2M and begin the process of licensing the well.

"When we complete the entire financing over the next few weeks, we will commence making interest payments on our outstanding debentures. We owe a debt of gratitude to our faithful investors who have supported us during a difficult time. The expected cash flow from the workovers, our existing nine wells on production and the anticipated exercising of warrants should give us the funds necessary to fund future drilling."

The closing of the offering is subject to the final approval of the TSX Venture Exchange. The corporation anticipates undertaking a second closing of the offering in the coming weeks.