SHARES OUTSTANDING: 118 MILLION
SYMBOL & EXCHANGE: FGT-V
MONTREAL, Dec. 17 /CNW Telbec/ - Forest Gate Resources Inc. announces
that perforation operations are scheduled to take place, prior to Christmas
holidays, on the 4 Nevis coalbed methane (CBM) wells in Alberta, Calgary which
were recently drilled and anticipated coal seams were encountered.
After the holiday the wells will be fracture stimulated, with flare and
testing activities taking place before year-end. Facility installations have
commenced on the leases and it is anticipated that pipeline construction will
begin in the next 3 to 5 days.
Forest Gate holds a 10% interest before payout and a 5% interest after
payout, subject to gross overriding royalties, in the four wells.
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.
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