Gale Force Petroleum Inc. has entered into agreements to sell its Gregg & Rusk Counties Properties and its Oklahoma Properties, for an aggregate selling price of $6.5 million.

"Selling these properties is part of Gale Force's strategy to generate capital without causing any dilution, strengthen our balance sheet, and begin a new capital investment program in key development prospects", said Michael McLellan, Co-Chairman & CEO. "With these transactions behind us, we will have streamlined our business, and will begin immediately investing capital to resume production growth and to prove up the value of our core assets".

The Company has sold its properties in Gregg & Rusk Counties for a total of $5.85 million, of which $5.55 million was paid today, with the remaining $300,000 expected in June, 2013.

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