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Gale Force Petroleum Incorporation.

Publié le 28 mai 2012

GFP Announces GGC Deal to Proceed

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GALE FORCE ANNOUNCES GREAT GULFCAN DEAL TO PROCEED

Dallas, May 28, 2012 � Gale Force Petroleum Inc. (TSXV: GFP) (OTCQX: GFPMF) (the �Company�) announced today that it has provided an update concerning the Great Gulfcan Assets purchase: The transaction is now expected to close later this week.  Details about the transaction were previously announced by the Company on February 13, 2012.

 

For more information, please contact: Michael McLellan, CFA, Chairman & CEO, +1.514.221.2030

 

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.�

 

- 30 -

 

 

 

GALE FORCE INCREASES OWNERSHIP OF TEXAS REEF PROPERTIES,

ANNOUNCES NEW CFO AND CONTROLLER

Dallas, May 17, 2012 �Gale Force Petroleum Inc. (TSXV: GFP) (OTCQX: GFPMF) (�Gale Force� or the �Company�) announced today that it has increased its ownership of the Texas Reef Properties, hired a Chief Financial Officer and a new Controller, and provided an update on the Great Gulfcan Assets purchase.

 

Texas Reef Properties

 

The Company has purchased an additional 2% working interest in the Texas Reef properties for $130,000, comprised of US$60,000 in cash and CA$70,000 in common shares of the Company issued at a price of CA$0.35 per share. The shares are subject to a 4-month hold period, and the transaction is subject to the acceptance of the TSX Venture Exchange.

 

The purchase increases the Company�s ownership of the three existing wells to approximately 77% and the ownership of the remainder of the project including 7,000 gross acres/2,100 net acres to approximately 82%.

 

New Financial Personnel

 

The Company has also hired Guillaume Dumas, LL.B., as its Interim Chief Financial Officer, and Nancy Porter, CPA, as its new Controller.  Antoinette Lizzi, who stepped down from the position of Chief Financial Officer, will continue serving the Company as a consultant.

 

Guillaume Dumas, also currently a Director of the Company, is a member of the Quebec bar and has over 20 years experience in financial reporting, mergers and acquisitions, private equity and asset-based lending. 

 

Nancy Porter earned her CPA designation in 1984, and has over 30 years experience in accounting, management and administration of oil and gas companies in the Southern USA.

 

�Mr. Dumas has a rare combination of legal and financial expertise coupled with capital markets experience, and Ms. Porter brings accounting and management expertise built on a wealth of oil and gas finance experience in our area of operations�, said Michael McLellan, Chairman & CEO.  �Mr. Dumas and Ms. Porter will be invaluable in helping manage Gale Force�s next phase of rapid growth.

 

�I would also thank Ms. Lizzi, personally and on behalf of the Company for her dedication in the crucial role she has played in turnaround and rebuilding of Gale Force into a valuable and profitable, company today,� said Mr. McLellan.

 

Great Gulfcan Assets Purchase Update

 

The Company also announced today that the closing of the Great Gulfcan Assets has been delayed until on or about Wednesday, May 23rd, 2012.

 

For more information, please contact: Michael McLellan, CFA, Chairman & CEO, +1.514.221.2030

 

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.�

 

- 30 -

 

 

Gale Force Petroleum Inc. wants to ensure that only those who wish to receive our emails are on our mailing lists. If you would like to unsubscribe, please send an email with �Unsubscribe� in the subject line to MMcLellan@GaleForcePetroleum.com.

Gale Force Petroleum Incorporation.

CODE : GFP.V
ISIN : CA36320R2063
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Gale Force Petroleum Inc. est une société de production minière de pétrole basée au Canada.

Gale Force Petroleum Inc. est cotée au Canada et aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 148,3 millions CA$ (118,5 millions US$, 103,8 millions €).

La valeur de son action a atteint son plus bas niveau récent le 22 mai 2015 à 0,01 CA$, et son plus haut niveau récent le 07 mai 2021 à 9,42 CA$.

Gale Force Petroleum Inc. possède 80 140 000 actions en circulation.

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Financements de Gale Force Petroleum Incorporation.
01/03/2011OBTAINS $300,000 BRIDGE LOAN
01/02/2011CLOSES $1.08 MILLION PRIVATE PLACEMENT
Attributions d'options de Gale Force Petroleum Incorporation.
22/02/2011200,000 options granted to IR group
22/02/2011Amendment of STOCK OPTION PLAN
Nominations de Gale Force Petroleum Incorporation.
01/11/2013Announces Board of Directors Changes and Settlement With Iro...
22/02/2011ENGAGES INVESTOR RELATIONS GROUP, AMENDS STOCK OPTION PLAN
Projets de Gale Force Petroleum Incorporation.
27/08/2014Gale Force closes Texas Reef interests sale
12/11/2013Sells Remaining G&R Leases and Provides Production Update
15/03/2013=3A GFP Generates Capital Through Property Sales
18/09/2012GFP Provides Texas Reef Land Update
12/09/2012PROVIDES MARCELLUS UPDATE =2D On Track to Achieve Forecast P...
Communiqués de Presse de Gale Force Petroleum Incorporation.
18/09/2015Montana Exploration Corp. and Gale Force Petroleum Inc. Comp...
10/09/2015Gale Force Petroleum Inc. Security Holders Approve Arrangeme...
09/09/2015GALE FORCE PETROLEUM INC. SECURITY HOLDERS APPROVE ARRANGEME...
04/08/2015Gale Force Petroleum Inc. Obtains Interim Order for Plan of ...
25/06/2015Montana Exploration Corp. to acquire Gale Force Petroleum In...
24/06/2015MONTANA EXPLORATION CORP. TO ACQUIRE GALE FORCE PETROLEUM IN...
18/12/2014Gale Force Announces Shareholder Meeting Results
24/11/2014Gale Force receives escrowed funds from Texas Reef sale
18/11/2014GALE FORCE REDUCES OVERHEAD, TO ISSUE SECURITIES
18/11/2014Gale Force Reduces Overhead Costs, To Issue Securities
17/11/2014GALE FORCE CLOSES THUNDER PROPERTIES SALE
17/11/2014closes Thunder Properties sale
11/09/2014Gale Force issues finder's fee shares, updates stock option ...
18/08/2014Gale Force to Sell Thunder Property Interests
18/08/2014to Sell Thunder Property Interests
24/07/2014Gale Force to sell majority stake in its Texas Reef Properti...
29/05/2014Gale Force frees up capital through East Texas property sale...
22/04/2014to fetch $5.00 more per barrel of oil produced under new con...
28/03/2014increases short-term loan to US$600,000
26/02/2014BUYS ADDITIONAL TEXAS REEF INTERESTS=2C RENEWS AND EXTENDS ...
26/02/2014Releases December 31=2C 2013 Interim Report
07/02/2014Announces Shareholder Meeting Results
29/01/2014Provides Operations and Strategy Update
24/01/2014Issues Shares for Debt
03/12/2013Extends Bank Facility=2C Enters Into Swaps
28/11/2013Publishes Quarterly Financials
11/10/2013Preferred Shareholders Convert Into Common Shares
30/09/2013Concludes Texas Reef Interests Purchase
30/09/2013Closes Texas Reef Interests Purchases
09/09/2013Publishes Updated Presentation
18/07/2013Calls Annual Shareholders Meeting
03/07/2013Responds to Dissident Shareholder
14/06/2013Retains Financial Advisor for Strategic Alternative
22/05/2013to buy additional Texas Reef Property interests, issues ince...
01/05/2013responds to Iroquois Letter
26/04/2013TO RESPOND TO IROQUOIS LETTER
13/02/2013provides strategy update
03/10/2012GFP SPUDS WELL AT TEXAS REEF
13/09/2012Warrants To Comments Trading on TSXV
28/05/2012GFP Announces GGC Deal to Proceed
15/03/2012GFP in the Energy Report
13/03/2012GFP Trading Update
08/03/2012GFP Update
02/08/2011Palos Merchant Bank Comments on Gale Force Petroleum
05/05/2011CLOSES $5 MILLION STRAIGHT EQUITY FINANCING, ANNOUNCES B...
02/02/2011CLOSES COLGATE ACQUISITION
22/07/2010 Announces Purchase of Gulftex Properties
25/02/2009 Creditors Accept ProposalThread-Topic: News Release: GFP Cr...
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