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News // CompaniesBrazilian Ultrapar interested to acquire Royal Dutch Shell’s European liquefied petroleum gas

Under the terms of the Agreement, Western Plains will acquire a 50% interest in Nordic’s 26 Local Service Districts (LSDs) (net 1,060 acres) of land in Lloydminster including nine heavy oil wells currently capable of production, plus an additional five wells drilled at the end of 2009. Since becoming contract field operator of the Nordic wells in mid-April 2010, Western Plains has re-activated eight of Nordic’s shut-in heavy oil wells, which are now producing approximately 85 to 90 bbls/d.

Western Plains will acquire its 50% participating interest in the Nordic property for an aggregate consideration of $2.2 million, including a $100,000 non-refundable cash deposit, which has been received by the Company. The effective date of the Acquisition is April 12, 2010, with closing anticipated to occur no later than July 31, 2010.

The closing of the Acquisition is subject to the completion of a number of conditions, including the completion of a private placement by Western Plains in the amount of $1,500,000 and receipt of all necessary regulatory and third party approvals, including the approval of the TSX Venture Exchange.

“As we stated in our April 13 News Release, this deal with Western Plains is of significant magnitude and importance for Nordic Oil and Gas Ltd.,” Mr. Benson stated. “In addition to allowing us to settle with a number of suppliers, it provides us with another significant influx of capital, which will allow us to move ahead with such initiatives as bringing on the five new wells in Lloydminster and developing our projects in Joffre and Talbot Lake, Alberta, and Preeceville, Saskatchewan.”

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 and Saskatchewan. The Corporation is listed on the TSX Venture Exchange and trades under the symbol NOG. Nordic was one of the “2008 TSX Venture 50″ companies, a ranking of the top 10 public venture capital companies in five industry sectors listed on the TSX Venture Exchange.

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.

This press release contains forward-looking statements with respect to Nordic Oil and Gas Ltd. properties, and matters concerning the business, operations, strategy, and financial performance of Nordic. These statements generally can be identified by use of forward-looking words such as “may”, “will”, “expect”, “estimate”, “anticipate”, “intends”, “believe” or “continue” or the negative thereof or similar variations. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations, including that the estimates and projections regarding the properties are realized. Forward-looking statements are based on a number of assumptions which may prove to be incorrect. Unless otherwise stated, all forward looking statements speak only as of the date of this press release and Nordic does not undertake any obligation to update such statements except as required by law.

%SEDAR: 00015188E

For further information: Don Bain, Corporate Secretary, Nordic Oil and Gas Ltd., Tel. (204) 229-7751, Fax: (204) 943-1829, E-mail: donbain1

In 1878 Thomas Edison invented the first electric light bulb. This single invention proved to be so popular that it caused a major recession in the oil industry. Since 1856 kerosene lamps were used in homes and street lamps. Historians state that the introduction of kerosene initiated the oil industry. Sales and production of kerosene trickled to a standstill as electricity and the electric light bulbs caught on quickly.
In 1908 Henry Ford’s mass produced automobile started a demand for gasoline and initiated an oil boom. Oil Pipelines were built from oilfields in Texas to refineries in the eastern US. With the introduction and public acceptance of mass-produced automobiles the Modern Era of Petroleum began.

Increasingly, governments are demanding higher prices from oil conglomerates for tapping intotheir onshore reserves and sometimes even excluding them in favor of domestic expertise.It looks bleaker and bleaker for Big Oil when you consider that in the 1970s,80% of the world oil reserves were controlled by Big Oil companies,but now those numbers are reversed, with local government-owned oil companies holding80% to 94 % of the block.
Also, Big Oil profits stem from the dangerously thin margin between how much oil is produced on adaily basis, and what worldwide demand is. Clearly Big Oil’s business model is due for a revision.

Enters Big Oil 2.0: China North East Petroleum (NEP)
Combining political savvy and business sense NEP leases oilfields from the Chinese governmentin exchange for selling all oil extracted to PetroChina at a fixed, below-market priceand… the exclusive right to drill more!
This tradeoff is what sets NEP appart from Big Oil: betting on China’s insatiable thirst for oilNEP has re-invested earnings into drilling and achieved a 400% quarterly growth.Already traded on AMEX,NEP thrives withan unconventional business model adapted to today’s geopolitical reality of drilling for oil.