TORONTO, May 21, 2015 /CNW/ - Gale Force Petroleum Inc. (TSXV: GFP) (OTCQX: GFPMF) (the "Company") today announced that it has entered into a purchase and sale agreement to sell 80% out of its 99% working interest in its Pine Mills property in Wood County, Texas, for US$2 million. The Closing of the transaction is expected in early June, 2015, and is subject to customary environmental and title due diligence.
ABOUT GALE FORCE PETROLEUM INC. − www.GaleForcePetroleum.com
Gale Force Petroleum is a public corporation focused on acquiring and exploiting underdeveloped 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, Tennessee and West Virginia.
Neither the 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.
SOURCE Gale Force Petroleum Inc.
For further information: Michael McLellan, CFA, Chief Executive Officer at +1.888.440.3411