In spite of an interesting lead in, Viking Wolf lacks bite. Its poorly paced, with next to none of the building tension and fear, you would typically expect, from a horror film in this genre.
I'm not sure what they were going for here but the treatment is, in short, off, leaving little for the audience to sink their teeth into.
In summary, werewolf films tend to follow a simple horror formula. Deviating from this recipe can only lead to disappointment.