Gale Force Petroleum Inc. has concluded the sale of an 81% working interest in its properties in Henderson and Anderson Counties, Texas (the "Texas Reef Properties") as well as its 90% interest in a 4-mile natural gas gathering system on the properties, for an aggregate selling price of US$5,850,000.

Per the terms of the purchase and sale agreement, US$567,000 of the purchase price will be held in escrow for sixty days following closing, or longer, if there are any title or environmental issues to be resolved.

Tags: Gale Force Petroleum Inc.