Nordic Oil and Gas Ltd. (CVE:NOG) provided updates into its planned initiatives for the remainder of 2011.
Nordic Oil and Gas Ltd. (TSXV:NOG) provided updates into its planned initiatives for the remainder of 2011.
The press release is quoted as saying:
In addition to this oil play at Endeavour, the Company also has a Colorado Shale Gas resource play there. Analysis of the four wells drilled by our predecessor has shown that Nordic has up to 11 Billion Cubic Feet (BCF) of Shale Gas per section.
Nordic Oil and Gas Ltd.’s President, Donald Benson, said,
“We remain very upbeat about the oil potential within the area. Based on the analysis of the samples acquired during the drilling of the well, it is believed that the well penetrated either a new, or the edge of a new oil pool in the Red River Formation,”