Production Commences, Initial Development Program Underway
MONTREAL, Sept. 24 /CNW Telbec/ - Gale Force Petroleum Inc. (TSX-V: GFP,
the "Corporation") today announced that it has re-entered and started natural
gas production from four of the nine wells recently acquired on its Kentucky
Appalachian Shale Gas Property ("Kentucky Property"). The four wells are
currently being dewatered to increase production. This represents the first
step of the Corporation's initial "Phase 1" development program.
The program is already underway and is expected to be complete by end of
year 2008. The program will see the Corporation complete, tie-in and commence
production from all nine existing wells on the Kentucky Property. The
Corporation will also drill and cut cores on three additional vertical wells.
These additional wells will be put on production and core analysis performed.
The coring analysis will extract improved geological knowledge of the property
and provide field-specific porosity, organic content and original gas in place
for the completion of a reserves analysis on the property.
Upon completion of the initial development program, the Kentucky
Appalachian Shale Gas Property is expected to generate significant operating
cash-flows from an initial total twelve wells on production. The results of
the initial development program will be utilised in preparing the next phase
development of the Kentucky Property, which is planned to be a long-term,
multi-well drilling program.
ABOUT GALE FORCE PETROLEUM INC. - www.GaleForcePetroleum.com
Gale Force Petroleum is a public oil and gas corporation focused on
acquiring and developing oil and gas properties in North America, building
shareholder value through growth.
Forward looking statements:
Statements included herein, including those that express management's
expectations or estimates of our future performance, constitute
"forward-looking statements" within the meaning of applicable securities laws.
Forward-looking statements - especially but not limited to any geological or
reservoir information not supported by a NI 51-101 report - are based on
assumptions and estimates that are subject to various risks and uncertainties
including but not limited to geological risk, engineering risks, market risk
and the risks disclosed under the heading "Business Risks" in the
Corporation's periodic filings with Canadian securities regulators, including
most recently in its Management Discussion and Analysis for the exercise ended
June 30, 2007 available on SEDAR. Such information contained herein represents
management's best judgment as of the date hereof based on information
currently available. The Company does not assume the obligation to update any
"The TSX Venture Exchange has not reviewed this release and therefore
does not accept responsibility for its adequacy or accuracy."
For further information:
For further information: Michael McLellan, President and CEO, Gale Force
Petroleum Inc., (514) 333-9292