X0304 4 2011-12-20 0 0001104485 NORTHERN OIL & GAS, INC. N O G 0001399391 KING JACK E 315 MANITOBA AVE, SUITE 200 WAYZATA MN 55391 1 0 0 0 Common Stock 2011-12-20 4 G 0 600 23.57 D 20156 D Common Stock 2011-12-20 4 G 0 200 23.57 D 19956 D Common Stock 200 I By Daughter Common Stock 2011-12-22 4 G 0 200 24.16 D 19756 D Common Stock 2011-12-29 4 A 0 10000 0 A 29756 D Common Stock 2012-01-03 4 M 0 3500 5.18 A 33256 D Common Stock 2012-01-03 4 S 0 4707 25.00 D 28549 D Option to Purchase Common Stock 5.18 2012-01-03 4 M 0 3500 0 D 2007-11-01 2017-11-01 Common Stock 3500 93000 D Represent's shares gifted on December 20, 2011 to a daughter sharing the same residence as the reporting person. Stock granted pursuant to Issuer's 2009 Amended and Restated Equity Plan. Acquisition of common stock upon exercise of option pursuant to a Rule 10b5-1 trading plan adopted by the reporting person. Sale effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person. Reflects the average price of 4,707 shares sold in multiple transactions on January 3, 2012 with sales prices ranging from $24.8201 to $25.13. The reporting person undertakes to provide upon request by the US Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares purchased or sold at each separate price on each date. /s/ Jack King 2012-01-03