Donald Benson, Chairman and CEO of Nordic Oil and Gas Ltd., reported that the Company has obtained its first property in Manitoba through the acquisition of the Petroleum & Natural Gas rights on four contiguous quarter sections of land in the Virden Oil Field in the southwestern region of the province.
Nordic will be seeking to acquire existing seismic to identify the best location for the first of four wells that will be drilled in 2012. The Company will be exploring in the Mississippian formation for Lodgepole production, and from the Three Forks Group, which includes the Bakken zone.
"As a Winnipeg-based company, we are delighted to have made our first acquisition of land here in Manitoba," Mr. Benson stated. "The Virden Oil Field is the most prolific in the province and the town of Virden has become known as the 'Oil Capital of Manitoba'".
The majority of Manitoba's current oil production is located in the southwest region of the province, along the northeastern flank of the Williston Basin, a sedimentary basin that also occupies portions of southern Saskatchewan, North Dakota, South Dakota and Montana.