Forest Gate Energy Inc.
Symbol & Exchange: FGE-V
Forest Gate Drills Kelsey Well In Alberta
Montreal, QC – August 21, 2008 - Forest Gate reports that the prospective natural gas well in Township 43, Range 18 at Kelsey, Alberta was recently drilled, logged, and cased. The logs and geological data support the original optimism and show good potential for natural gas. Perforation and testing operations are scheduled to commence August 22nd.
The Kelsey well, in which Forest Gate has a 38% interest, represents Forest Gate’s third joint venture agreement with Emerald Bay Energy Inc., Calgary.
"In less than ten months, we have successfully added oil and gas production with our properties in Alberta," said Michael Judson, President and CEO of Forest Gate. “We are hopeful that Kelsey will join the ranks of Ferrybank and Nevis, and provide yet another opportunity to increase our existing revenue generating production."
About the Company
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.
All figures such as drilling results and production rates have been reported by, Shelby Beattie, President and CEO of operator, Emerald Bay Energy.
For more information please contact:
Robert Kramberger,
V-P, Investor Relations
1-866-666-3040
rkramberger@forestgate.ca
www.forestgate.ca
About Forward-Looking Information and 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.
