Forest Gate and Consortium Mobilize Rig for Celtic Sea Drilling

Montreal, QC - August 14, 2007 - Forest Gate Resources Inc. announced today that the company and its Celtic Sea consortium partners, lead by Providence Resources Plc, have taken delivery of the Petrolia semi-submersible drilling rig from Island Oil and Gas Plc in anticipation of their upcoming appraisal drilling program at the Hook Head prospect in the Celtic Sea.

Under the terms of the rig share agreement with Island Oil and Gas Plc, the consortium members have secured the Petrolia Rig for a 50-day drilling slot.

"The project is moving ahead as anticipated and I look forward to news from Ireland in the very near future." said Michael Judson, President & CEO of Forest Gate.

In other consortium news, Providence has agreed to a new farm-out agreement with Sosina Exploration Limited over Celtic Sea Standard Exploration Licenses 2/07 ('Hook Head') & 3/07 ('Blackrock'). Subject to Irish governmental approval of this agreement, Sosina Exploration Limited will hold a 5% stake in these licenses. Providence's equity stake will remain at 40%, with Dyas BV at 15%, Atlantic Petroleum (Ireland Limited) at 10%, Forest Gate Resources Inc. at 15% and Challenger Minerals (Celtic Sea) Limited at 15%.

Forest Gate Resources Inc. is an international oil & gas exploration company. The company is seeking to increase shareholder value through participation and development of oil & gas exploration and production projects in Ireland and Canada. The company's shares trade under the symbol FGT on the TSX Venture Exchange.

For more information please contact:

Angela Colizza,
Investor Relations Manager
1-866-666-3040
acolizza@forestgate.ca
www.forestgate.ca

FORWARD-LOOKING STATEMENTS This news release contains certain forward-looking statements, including statements regarding the business and anticipated financial performance of the Company. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward looking statements, oral or written, made by itself or on its behalf. The TSX Venture Exchange has not reviewed nor does it accept responsibility for the adequacy or accuracy of this news release.