Norwood Resources Ltd.

Norwood Resources Ltd.

February 14, 2007 13:42 ET

Hydrocarbon Discovery in Nicaragua

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Feb. 14, 2007) - Norwood Resources Ltd. (TSX VENTURE:NRS) (the "Company") announces it has discovered gas, condensate and light oil in eight (8) separate zones in its exploration well, the San Bartolo Rodriguez Cano No.1, on its Nicaraguan onshore concession.

The discovery was made below 6,000 ft in various turbidite sands of the Paleocene Brito formation and achieved a total drilled depth of 8,790 ft with a bottom hole deviation of 11.5 degrees. The company has logged the well and independent petrophysical analysis combined with core (percussion and rotary) analysis has assigned a combined 532 ft of pay, including 232 ft of conventional pay and another 300 ft of naturally fractured low permeability sands in eight (8) separate zones. Results from core analysis indicate porosities in the 17% to 21% range with permeability from 3 to 30 mD. These porosity measurements agree favorably with the log measurements.

Completion planning, testing and stimulation design will take several weeks due to the number and variability of pay zones. The San Bartolo No.1 has been cased and cemented to 8764' with 7" casing.

As this is the first exploration well in Nicaragua in over 35 years and the first onshore to this depth, drilling took 47 days. The rig is now moving the 11 Kms to the Company's original No.1 location, the Las Mesas structure, which is up dip from the San Bartolo structure. Amplitude and velocity seismic sections indicate similar but shallower Paleocene Brito sands at this location.



Raymond Cahill

President & CEO


This press release contains certain forward-looking statements. While these forward-looking statements represent our best current judgment, they are subject to a variety of risks and uncertainties that are beyond the company's ability to control or predict and which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements.

The TSX Venture Exchange does not accept responsibility for the accuracy or adequacy of this release.

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