Nordic Petroleum ASA completes the acquisition of Mega Pyramid

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46120 acre natural gas project in Alberta, Canada WCSB (WESTERN CANADIAN SEDIMENTARY BASIN)

Nordic Petroleum has now implemented the acquisition of the shares in 1421283 Alberta Ltd which has now been renamed Nordic Mega Inc. The transaction includes that Nordic Petroleum ASA compensates the sellers of the company with the issuance of 11,25 million new shares. The new shares are issued at a price rate of NOK 0,4440 per share, as well as a CAD 440 000 in cash.
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SHARE ISSUE

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THE SUBSCRIPTION PERIOD EXTENDED AND OPEN SHARE ISSUE, ALSO APPLICATION FOR ALBERTA OPERATING LICENSE SUBMITTED

The Company continues the share issue and financing of the Mega Pyramid drilling program for the 2009 winter season, which includes the drilling of at least 4 natural gas wells. Up until 14.11.2008 the share issue has been exclusive for existing shareholders and the results so far are promising, considering the current market climate. Several of the larger shareholders in Canada and Norway together with subscription guarantors have subscribed to shares. It is especially encouraging to see that several medium/small shareholders have taken the opportunity to increase their shareholdings in the share issue.
Based on this the subscriptions are getting close to half the amount of NOK 15 mill. As well as extending the subscription period the share issue will now be open for all potential new shareholders.
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EXPLORATION AND DRILLING FOR GAS NEXT 3 – 6 MONTHS

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ON THE MEGA PYRAMID FIELD AND POTENTAIL NEW FARM-IN DIRECTED SHARE ISSUE AGAINST EXISTING SHAREHOLDERS

The company has now preliminary working programs for their three fields (gas and oil-sands) in the Province of Alberta, Canada. Further the company invites existing shareholders for a right share issue of NOK 15 mill. More information can be found on the new Web site www.nop.as.
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Nordic Americas Inc. Purchase of Mega Pyramid!

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Nordic Americas Inc. (100% owned by Nordic Petroleum ASA) has signed an agreement for the purchase of the Mega Pyramid Gas Field. The field lies in the Northwest corner of the Province of Alberta close to the boarder of British Columbia, and South of Rainbow Lake. This area is known for being heavily both oil and gas prone.
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SHAREHOLDERS LETTER 7 – 09.07.2008

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The share issue is now completed and finalized with a combined subscription of about 19 million shares. Based on the previous announcement dated 25.06.2008, wherein the subscription due date was extended from the 25.06.2008 to 07.07.2008, the share issue is implemented at a subscription rate of NOK 0,25 per share which is in line with the current share price and volume developments recently. The board of directors has allocated the shares in today’s board meeting and the share issue is thus completed.
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