DALLAS, TX, April 16, 2012 /CNW Telbec/ - Gale Force Petroleum Inc. (TSXV: GFP) (OTCQX: GFPMF) ("Gale Force" or the "Company") announced today that to hedge against fluctuating oil prices, and lock-in profitable pricing on some of its production, it has entered into additional swap arrangements.
The following table summarizes the oil production swaps now in place for the Company:
|Period||Barrels Per Month||Average Swap Price|
|Jul 2012 - Dec 2012||4,000 bbls||$103.76|
|Jan 2013 - Dec 2013||3,500 bbls||$100.33|
|Jan 2014 - Dec 2014||2,000 bbls||$98.25|
ABOUT GALE FORCE PETROLEUM INC. − www.GaleForcePetroleum.com
Gale Force Petroleum is a public corporation focused on acquiring and exploiting underdeveloped and undervalued oil and gas reserves in mature basins, bringing operational expertise and capital to lower-risk, development-type projects. The Company currently owns producing oil and gas properties in Texas, Oklahoma, Tennessee and West Virginia.
"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
For further information:
Michael McLellan, CFA, Chairman & CEO, +1.514.221.2030