Approval

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Approval of waiver request for coring and water source testing in Chard Oilsands by Statoil Canada, as part of Statoil Canada winter drilling program 2010
Nordic Petroleum has approved a waiver request from Statoil for coring and testing the water and formation quality in the Chard license. The drilling will be executed as part of Statoil’s winter drilling program 2010. According to the waiver request and our approval, all well data, lab results and interpretation of the results from the testing will be made available for both parties. Further, if Statoil find the water of good enough quality for their planned use, and want to use this source of water for their development, it is a requirement that the parties enter into a commercial discussions and subsequent agreement of common use of the water resources in the license.

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Private placement of shares Nordic Petroleum ASA

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The company has now completed a private placement within the proxy limits as the board of directors already has from the company’s annual general meeting. The share issue amounts to NOK 820,000,-. The share placement was conducted with the order price of NOK 0.15 per share.
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Easter update from Nordic Petroleum ASA

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The board and management of NOPE are waiting in anticipation for the test results from our first well in the province of Alberta, Canada. Due to extreme weather the commencement of testing has been delayed, but we are in continuous contact with our partners who will start up again once the weather has stabilized.
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Status Skyway testing Carmangay well # 1

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After meeting with our partner Skyway Resources Inc. in the Carmangay project, we agreed to perform testing of a zone were the logs indicates oil content at the depth between 1435 and 1445m. Depending on the result from the testing of this zone, it was also agreed to thereafter test two gas zones at the depth in the area of 1100 m and 543-563m. Geological, these two formations correlate with area producing zones. There are several more minor zones that we may test later on.
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