Gale Force to sell Thunder property interests (Scandinavian Oil-Gas Magazine)

Gale Force to sell Thunder property interests

Published Aug 20, 2014

Gale Force Petroleum Inc. has entered into an agreement to sell its 50% working interest in the Thunder Properties in South Texas, to the other owner of the properties (the "Buyer"), for $550,000 cash and the restructuring of debts owed to Gale Force by Buyer.

Recently, the Company also announced its intention to sell a majority stake in its Texas Reef properties, which was announced on July 8, 2014. Both the Texas Reef Properties sale and Thunder Properties sale are now scheduled to close on or about August 27, 2014.

Tags: Gale Force Petroleum Inc.

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