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Forest Gate begins producing oil at Ferrybank, Alberta


Published Mar 28, 2008
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Forest Gate and Celtic Sea partners continue discussion for Hook Head program

Forest Gate Resources Inc. reports that its co-owned Ferrybank well went on production on Monday, March 24, 2008. The well produced approximately 135 barrels of oil in the first 36 hours, which appears to be 100% oil, as the original sample indicated no water.

It is too early to determine whether this rate of production will be sustained. The operator will now spend the next week monitoring the production rate, allowing it to stabilize.

"We've now gone from oil discovery to oil production", said Michael Judson, President and CEO of Forest Gate. "What started as a happy surprise at Ferrybank is now delivering rewards."

Forest Gate holds 37.5% interest in the Ferrybank well.



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