SHARES OUTSTANDING: 142 MILLION
SYMBOL & EXCHANGE: FGT-V
MONTREAL, Aug. 21 /CNW Telbec/ - Forest Gate reports that the prospective
natural gas well in Township 43, Range 18 at Kelsey, Alberta was recently
drilled, logged, and cased. The logs and geological data support the original
optimism and show good potential for natural gas. Perforation and testing
operations are scheduled to commence August 22nd.
The Kelsey well, in which Forest Gate has a 38% interest, represents
Forest Gate's third joint venture agreement with Emerald Bay Energy Inc.,
"In less than ten months, we have successfully added oil and gas
production with our properties in Alberta," said Michael Judson, President and
CEO of Forest Gate. "We are hopeful that Kelsey will join the ranks of
Ferrybank and Nevis, and provide yet another opportunity to increase our
existing revenue generating production."
About the Company
Forest Gate Resources Inc. is an international oil & gas exploration
company. The company is seeking to increase shareholder value through
participation and development of oil & gas exploration and production projects
in Ireland and Canada. The Company's shares trade under the symbol FGT on the
TSX Venture Exchange.
All figures such as drilling results and production rates have been
reported by, Shelby Beattie, President and CEO of operator, Emerald Bay
This news release contains certain forward-looking statements, including
statements regarding the business and anticipated financial performance of the
Company. These statements are subject to a number of risks and uncertainties.
Actual results may differ materially from results contemplated by the
forward-looking statements. When relying on forward-looking statements to make
decisions, investors and others should carefully consider the foregoing
factors and other uncertainties and should not place undue reliance on such
forward-looking statements. The Company does not undertake to update any
forward looking statements, oral or written, made by itself or on its behalf.
The TSX Venture Exchange has not reviewed nor does it accept
responsibility for the adequacy or accuracy of this news release.
For further information:
For further information: Robert Kramberger, V-P, Investor Relations,
1-866-666-3040, email@example.com, www.forestgate.ca