NORDIC ISSUES NEW STOCK OPTIONS TO OFFICERS, DIRECTORS AND CONSULTANTS

WINNIPEG, Dec. 15 /CNW/ - Donald Benson, Chairman and Chief Executive Officer of Nordic Oil and Gas Ltd. ("Nordic" or, "the Company"), today announced that pursuant to the terms and conditions of its Stock Option Plan, the Board of Directors ("the Board") has approved the granting of 1,725,000 stock options to directors and officers of the Company, along with selected Nordic consultants and employees. The options, which are effective immediately, are priced at $0.10 per share and will run for a period of five years from today's date.        

The Company currently has 81,892,178 issued and outstanding Class A Common shares listed on the TSX Venture Exchange.

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.

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.

For further information:

Don Bain
Corporate Secretary     
Nordic Oil and Gas Ltd.     
Tel. [phone]    
Fax: [phone]    
E-mail: [email protected]
www.nordicoilandgas.com