MONTREAL, Aug. 26 /CNW Telbec/ - Gale Force Petroleum Inc. (TSX-V: GFP,
the "Corporation"), announced today that production has commenced from wells
near Radway, Alberta, in which it holds an average 23.75% working interest
before payout. Three of four wells have been put on production, with the
fourth well expected to be tied in and on production by September, 2008.
Aggregate gross initial production rates including the fourth well are
expected to be approximately 2000 MCF per day, with aggregate gross production
from the four wells declining to stabilize at approximately 1350 MCF per day
after several months of production before the normal hyperbolic decline
"Given the pending sale of our Manitoban properties, the timing is
perfect for replacement production coming from the Radway properties," said
Michael McLellan, President and Chief Executive Officer. "We also expect
additional production to be coming online shortly from our Kentucky Property".
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 Corporation does not assume the obligation to update
any forward-looking statements.
"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: Gale Force Petroleum Inc., Michael McLellan,
President and CEO, (514) 333-9292