Press Coverage
Winnipeg Free Press
Nordic acquires resource rights to Alberta lands
October 2, 2009
By: Staff Writer
Nordic Oil and Gas Ltd., a small Winnipeg-based developer of oil, gas and coal-bed methane deposits, says it has acquired oil and natural gas rights on half a section of land in Drumheller, Alta., an area where the company operates along with joint venture partner, Western Warner Oils Ltd.
The move is required before Nordic can go ahead with a coal gasification project on the lands, the energy company (TSXV:NOG) said in a release Thursday.
Financial terms of the oil and gas rights were not revealed.
Nordic said it will move to pool its newly acquired interest with the owner of the rest of the land.
"This is an important step for the company in the process to develop our Drumheller property," chairman and CEO Donald Benson said in a release. "This will enable us to move forward on the underground coal gasification project that
we announced in July of this year."
"It is a requirement for us to own both the (petroleum and natural gas) and the coal rights in order for us to proceed on the (coal gas) project."
-- The Canadian Press
Republished from the Winnipeg Free Press print edition October 2, 2009 B14
