GALE FORCE PETROLEUM PROVIDES UPDATE ON ITS KENTUCKY APPALACHIAN SHALE GAS PROPERTY
20080924_kentucky-production-online_vfinal-en- Production Commences, Initial Development Program Underway -
Montreal, September 24, 2008 – Gale Force Petroleum Inc. (TSX-V: GFP, the “Corporation”) today announced that it has re-entered and started natural gas production from four of the nine wells recently acquired on its Kentucky Appalachian Shale Gas Property (”Kentucky Property”). The four wells are currently being dewatered to increase production. This represents the first step of the Corporation’s initial “Phase 1” development program.
The program is already underway and is expected to be complete by end of year 2008. The program will see the Corporation complete, tie-in and commence production from all nine existing wells on the Kentucky Property. The Corporation will also drill and cut cores on three additional vertical wells. These additional wells will be put on production and core analysis performed. The coring analysis will extract improved geological knowledge of the property and provide field-specific porosity, organic content and original gas in place for the completion of a reserves analysis on the property.
Upon completion of the initial development program, the Kentucky Appalachian Shale Gas Property is expected to generate significant operating cash-flows from an initial total twelve wells on production. The results of the initial development program will be utilised in preparing the next phase development of the Kentucky Property, which is planned to be a long-term, multi-well drilling program.
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.
For more information, please contact:
Gale Force Petroleum Inc.
Michael McLellan, President and CEO, +1.514.333.9292
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 Company 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.”
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