News Releases
GALE FORCE ADDS SIGNIFICANT NEW RESERVES AND PRODUCTION, BUYS TEXAS REEF PROPERTIES, CLOSES EQUITY AND BANK FINANCINGS
Dallas, April 11, 2012 – Gale Force Petroleum Inc. (TSXV: GFP, OTCQX: GFPMF) (“Gale Force” or the “Company”) announced today that it has closed the purchase of the Texas Reef Properties, hitting another milestone in its aggressive plan to grow rapidly through the acquisition of underdeveloped proved reserves. To finance the transaction and provide sufficient [...]
Read moreGALE FORCE PETROLEUM RELEASES FINANCIAL REPORTS, PROVIDES ACQUISITIONS UPDATE, ENTERS INTO PRODUCTION SWAPS
Dallas, March 8, 2012 – Gale Force Petroleum Inc. (TSXV: GFP, OTCQX: GFPMF) (“Gale Force” or the “Company”) released its financial reports for the interim periods ended December 31, 2011. The Company also announced that it has signed agreements to acquire greater interests in the Texas Reef Properties. The Company then provided an update on [...]
Read moreGFP ON TRACK TO TRIPLE PRODUCTION YEAR OVER YEAR, SIGNS AGREEMENTS TO BUY TEXAS REEF PROPERTIES AND GREAT GULFCAN ASSETS
Dallas, February 13, 2012 – Gale Force Petroleum Inc. (TSXV: GFP, OTCQX: GFPMF) (“Gale Force” or the “Company”) announced today that it has entered into agreements to purchase oil and gas properties and assets in East Texas (the “Texas Reef Properties”) on or before March 23, 2012. Gale Force also announced today that it has [...]
Read moreGALE FORCE PETROLEUM BUYS WET GAS MARCELLUS SHALE GAS PROPERTIES
Dallas, January 31, 2012 – Gale Force Petroleum Inc. (TSXV: GFP, OTCQX: GFPMF) (“Gale Force” or the “Company”) announced today that it has purchased non-operated interests in the liquids-rich Marcellus shale gas field in Wetzel and Marshall Counties, West Virginia (the “Marcellus Properties”). “This is a tremendous opportunity with excellent financial terms for Gale Force [...]
Read moreGALE FORCE PETROLEUM ANNOUNCES 2011 PRODUCTION EXIT RATE
Dallas, January 10, 2012 – Gale Force Petroleum Inc. (TSXV: GFP, OTCQX: GFPMF) (the “Company”) announced today that it exited 2011 with a daily production rate of 275 BOE per day, comprised of 247 barrels of light crude oil per day and 170 MCFs of natural gas per day. The increases in production attained by [...]
Read moreGALE FORCE PETROLEUM NOW TRADING ON THE OTCQX
Dallas, December 6, 2011 – Gale Force Petroleum Inc. (TSXV: GFP; OTCQX: GFPMF) (“Gale Force” or the “Company”) announced today that it is now trading on the highest tier of the OTC market, the OTCQX. The OTC is the world’s largest electronic marketplace for broker-dealers to trade over-the-counter (“OTC”) stocks. Investors will be able to [...]
Read moreGALE FORCE PETROLEUM BUYS THUNDER PROPERTIES
Dallas, October 19th, 2011 – Gale Force Petroleum Inc. (TSXV: GFP) (“Gale Force” or the “Company”) announced today that it has purchased properties in South Texas (the “Thunder Properties”). “The Thunder Properties have profitable current oil and liquids-rich gas production, very long-life reserves, and up to 7 untapped horizons,” said Michael McLellan, Chairman and CEO. “This [...]
Read moreGALE FORCE PETROLEUM OBTAINS INCREASE IN BORROWING BASE OF LINE OF CREDIT TO $6.1 MILLION, BUYS HEDGES
Dallas, October 18th, 2011 – Gale Force Petroleum Inc. (TSXV: GFP) (“Gale Force” or the “Company”) announced today that it has obtained an increase to $6.1 million in the borrowing base on its $15 million line of credit with Green Bank of Houston, Texas. The line of credit has an interest rate of 5.0% per annum, [...]
Read moreGALE FORCE PETROLEUM PROVIDES OPERATIONS UPDATE – Starts Production at Wells Ranch Property
Montreal, July 26th, 2011 – Gale Force Petroleum Inc. (TSXV: GFP) (“Gale Force” or the “Company”) today provided an operations update to report interim results from its planned US$2,000,000 development program (the “Development Program”), and announced that it has started production at its Wells Ranch property. Updates and details on the Wells Ranch property are [...]
Read moreGALE FORCE PETROLEUM CLOSES $5 MILLION STRAIGHT EQUITY FINANCING, ANNOUNCES BOARD CHANGES, NEW TECHNICAL PERSONNEL
Montreal, May 5, 2011 – Gale Force Petroleum Inc. (TSXV: GFP) (“Gale Force” or the “Company”) today announced that it has closed a CA$5,000,000 straight equity private placement financing, has made changes to its Board of Directors and hired new technical personnel. Ruben Alba and Charles Marleau have joined the Company’s Board of Directors, and [...]
Read moreGALE FORCE PETROLEUM OBTAINS BRIDGE LOAN INCREASE
Montreal, April 19, 2011 – Gale Force Petroleum Inc. (TSXV: GFP) (“Gale Force” or the “Company”) today announced that it has obtained a $300,000 increase in its 60-day interim loan from an arms-length shareholder (the “Bridge Loan”), which now totals $600,000. “As before, the purpose of the Bridge Loan is to ensure the development of [...]
Read moreGALE FORCE PETROLEUM BUYS HEDGES
Montreal, March 2, 2011 – Gale Force Petroleum Inc. (TSXV: GFP) (“Gale Force” or the “Company”) today announced that it has purchased additional “floors”, consisting of a series of put options, for 1000 barrels per month of crude oil at US$70.00 per barrel, for 13 months, from July 2011 to August 2012. These hedges cost [...]
Read moreGALE FORCE PETROLEUM OBTAINS $300,000 BRIDGE LOAN
Montreal, March 1, 2011 – Gale Force Petroleum Inc. (TSXV: GFP) (“Gale Force” or the “Company”) today announced that it has obtained a 60-day interim loan of $300,000 from an arms-length shareholder, which earns interest of 1.25% per month (the “Bridge Loan”). “The purpose of the Bridge Loan is to ensure the development of our [...]
Read moreGALE FORCE PETROLEUM ENGAGES INVESTOR RELATIONS GROUP, AMENDS STOCK OPTION PLAN
Montreal, February 22, 2011 – Gale Force Petroleum Inc. (TSXV: GFP) (“Gale Force” or the “Company”) today announced that it has engaged Investor Cubed Inc. (”Investor Cubed”) to provide investor relations and shareholder communications services (the “Engagement”). In connection with the Engagement, Investor Cubed has been awarded a consulting contract paying $5,000 per month. The [...]
Read moreGALE FORCE PETROLEUM ANNOUNCES SHAREHOLDER MEETING RESULTS, NEW CHIEF OF OPERATIONS
Montreal, February 17, 2011 – Gale Force Petroleum Inc. (TSX Venture: GFP) (“Gale Force” or the “Company”) announced that all resolutions proposed at the Annual and Special Meeting of its Shareholders held today were approved. The Company also announced that it has appointed Emery Johnson as its new Interim Chief Operating Officer. John Trosclair, P.E., [...]
Read moreGALE FORCE PETROLEUM STRENGTHENS BOARD OF DIRECTORS
Dallas, Texas, February 4, 2011 – Gale Force Petroleum Inc. (TSX Venture: GFP) (“Gale Force” or the “Company”) today announced that it has nominated Robert Johnson to its Board of Directors. “Mr. Johnson brings more than 15 years of experience in venture finance and the junior oil and gas industry,” said Michael McLellan, Chairman and [...]
Read moreGALE FORCE PETROLEUM CLOSES COLGATE ACQUISITION
Dallas, Texas, February 2, 2011 – Gale Force Petroleum Inc. (TSX Venture: GFP) (“Gale Force” or the “Company”) today announced that it has concluded the purchase of producing oil properties in East Texas (the “Colgate Properties”). The Colgate Properties are located within 5 miles of the Company’s existing properties in East Texas and consist of [...]
Read moreGALE FORCE PETROLEUM CLOSES $1.08 MILLION PRIVATE PLACEMENT
Montreal, Quebec, February 1, 2011 – Gale Force Petroleum Inc. (TSX Venture: GFP) (the “Company”) today announced that it has concluded a private placement financing for gross proceeds of CA$1,080,302, through the issuance of 3,601,008 units (“Units”) at $0.30 per Unit. Each Unit is comprised of one common share of the Company and one common [...]
Read moreGALE FORCE PETROLEUM ANNOUNCES UPDATE ON THE COLGATE PROPERTIES PURCHASE
Montreal, December 30, 2010 – Gale Force Petroleum Inc. (TSX Venture: GFP, the “Company”) today announced that its option to purchase the Colgate Properties has been extended to January 31, 2010, and it expects to conclude the purchase by the end of January, 2011. The Company has also received approval from its bank, Green Bank, [...]
Read moreGALE FORCE PETROLEUM ANNOUNCES LOI TO PURCHASE COLGATE PROPERTIES
Montreal, November 29, 2010 – Gale Force Petroleum Inc. (TSX Venture: GFP, the “Company”) today announced that it has signed a letter of intent to purchase interests in properties in East Texas (the “Colgate Properties”). The Colgate Properties are located within 5 miles of the Company’s existing properties in East Texas and consist of mainly [...]
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