Gale Force Petroleum Inc. has engaged Cairn Merchant Partners as its financial advisor in order to assist the Company in evaluating and considering strategic alternatives with a view to enhancing shareholder value. Strategic alternatives to be considered by the Company include, but are not limited to, the sale of the Company or a business combination.

"Given Gale Force's attractive reserves base, cash-flow positive operations, potential for growth and public listing, our Board of Directors believes that the Company can attain greater value for shareholders through a strategic transaction," said Michael McLellan, Co-Chairman and CEO. "The rationale for a strategic transaction was most recently discussed in detail in the Company's Management Discussion & Analysis for the quarter ended March 31, 2013, but in short, we believe that a strategic transaction will unlock latent value currently going unrecognized by the market and, depending upon the nature of the transaction, could be accretive to shareholders through the realization of economies of scale and operational synergies."

Tags: Gale Force Petroleum Inc.