- Acquires 2,000 additional net acres -
DALLAS, TX, Sept. 18, 2012 /CNW Telbec/ - Gale Force Petroleum Inc. (TSXV: GFP) (OTCQX: GFPMF) (the "Company" or "Gale Force") today provided an update on leasing at its Texas Reef project that it
acquired in April, 2012. The Company has obtained new oil and gas
mineral leases on over 2,000 net acres of land at Texas Reef,
increasing its total leasehold position in the area to over 4,100 net
acres. The Company owns an 82% working interest in the Texas Reef
properties, and is the operator of the project.
"Gale Force has now nearly doubled its acreage position in the area,
adding substantial development inventory, and providing the Company
with tremendous additional upside potential," said Michael McLellan,
Co-Chairman & CEO. "The Texas Reef properties have highly profitable
oil and gas production from existing wells, and there are now numerous
low-risk, high-return development drilling opportunities throughout the
The Texas Reef Properties have complex geology with proved oil and gas
reserves from multiple zones, and numerous potential proved undeveloped
locations for development drilling.
ABOUT GALE FORCE PETROLEUM INC. − www.GaleForcePetroleum.com
Gale Force Petroleum is a public corporation focused on acquiring and
exploiting underdeveloped and undervalued oil and gas reserves in
mature basins, bringing operational expertise and capital to
lower-risk, development-type projects. The Company currently owns
producing oil and gas properties in Texas, Oklahoma, Tennessee and West
"Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release."
SOURCE: GALE FORCE PETROLEUM INC.
For further information:
Michael McLellan, CFA, Co-Chairman & CEO, +1.514.221.2030