Shares outstanding: 142 Million
SYMBOL & EXCHANGE: FGT-V
MONTREAL, Sept. 3 /CNW Telbec/ - Forest Gate Resources announces that the
operator of the Basal Belly River natural gas well in Kelsey, Alberta has
recently perforated the well and tested a new pool. During the 48-hour flow
test the Basal Belly River flowed approximately 265 thousand cubic feet of gas
per day on a 32/64ths-inch choke with 1,800-kilo-pascal (kPa) flowing casing
pressure. Recorders have been placed to measure build-up pressure for a 10-day
The tie-in location has been identified with plans for pipeline
construction to begin immediately after surface rights and pipeline permit are
acquired. The Upper Belly River formation will remain behind casing at this
point for future development.
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, firstname.lastname@example.org, www.forestgate.ca