Firm touts farm-out

Nordic Oil and Gas Ltd. has entered into a farm-out agreement that provides for drilling up to six wells in Tatagwa, Saskatchewan, the Winnipeg company said April 3.

Through the agreement, 6470239 Manitoba Ltd., the general partner of Nordic Limited Partnership No.1, is selling up to 250,000 Limited Partnership Units at $10 per unit for a maximum of $2.5 million. The minimum subscription amount will be $5,000 and is available to qualified accredited investors. The offer includes a 10 percent finder’s fee.

“Nordic recently acquired 16 kilometers (10 miles) of 2-D seismic data over the land and from the analysis of this seismic data, an un-tested look-a-like feature to the nearby Union Jack Oil field has been identified,” Nordic Chairman and CEO Donald Benson said. “This feature not only indicates oil potential from the Midale/Frobisher formation but also indicates potential from the un-tested deeper Bakken and Red River formations.”

Nordic is a junior oil and gas firm engaged in the exploration and development of oil, natural gas and coalbed methane in Alberta and Saskatchewan.

—Eric Lidji

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