SHARES OUTSTANDING: 118 MILLION
SYMBOL & EXCHANGE: FGT-V
MONTREAL, Nov. 30 /CNW Telbec/ - Forest Gate Resources Inc. announces
that the four coalbed methane (CBM) wells in the Nevis area of Alberta have
been successfully drilled, cased, and cemented. Anticipated coal seams were
Completion operations are scheduled to begin the week of December 10th,
and the Operator, Emerald Bay Energy, is moving forward with the pipeline
license so the wells will be tied-in and producing before year end.
"We are very pleased with the rapid progress and promising results at
Nevis," said Michael Judson, President and CEO of Forest Gate. "This
encourages us to look at other similar opportunities in Alberta."
Initial production rates for the four Nevis CBM wells should be reported
in the coming weeks.
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, firstname.lastname@example.org, www.forestgate.ca