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Donald Benson, president of Nordic Oil and Gas Ltd. (TSXV:NOG), announced that his company has entered into a farm-in agreement on a section of petroleum and natural gas leases in Noel, British Columbia.
Donald Benson, president of Nordic Oil and Gas Ltd. (TSXV:NOG), announced that his company has entered into a farm-in agreement on a section of petroleum and natural gas leases in Noel, British Columbia.
As quoted in the press release:
The main attraction of this property and reason to enter into the Farm-in Agreement, said Mr. Benson, ‘was that the location is already tied-in to the pipeline and therefore the cost of infrastructure is eliminated, and that there are two identified shallow Cardium zones, which occur at a depth of 750 to 950 meters subsurface. There is also a Cadotte zone that is very prolific.’
Benson also commented:
We are very bullish on this opportunity and we feel this will open up our ability to significantly increase our overall production totals. We have identified two prospective Cardium zones from the logs from the existing well, and we will be investigating the viability of either re-completing the existing well or alternatively drilling a twinned well on the existing surface lease.
Click here to read the full Nordic Oil and Gas Ltd. (TSXV:NOG) press release.