November 13, 2003

NORDIC OIL AND GAS ANNOUNCES PROPOSED PRIVATE PLACEMENT OF $400,000

WINNIPEG, MB. NOVEMBER 13, 2003 - Donald Benson, Chairman and Chief Executive Officer of Nordic Oil and Gas Ltd., today announced the intention of Nordic Oil and Gas Ltd. to complete a private placement to a Canadian institutional investor. A total of $400,000 in gross proceeds is to be raised through the sale of one million common shares of the Company on a flow-through basis, at a price of $0.40 per share. The transaction is subject to the approval of the TSX Venture Exchange.

Wellington West Capital Inc., an independent investment dealer headquartered in Winnipeg, acted as placement agent on the transaction and will be paid a commission fee of 7%. In addition, the Agent will receive non-flow-through broker warrants in an amount equal to 10% of the offering as part of the deal. It is expected that the deal will close on or about November 19, 2003, subject to regulatory approval.

"This financing will enable us to build on our recent successes, accelerating the timetable for advancing our development and drilling programs in Joffre, Alberta and Preeceville, Saskatchewan," stated Mr. Benson.

Nordic Oil and Gas is a junior oil and gas exploration company, which is listed on the TSX Venture Exchange and trades under the symbol NOG.

The TSX Venture Exchange has neither approved nor disapproved the contents of this Release.

For additional information, contact:

Donald Benson
Chairman & CEO
Nordic Oil & Gas Ltd.
Tel: 204-956-5042
Fax: 204-897-7154
E-mail: dbenson57@shaw.ca