Forest Gate Energy Announces Change of Auditors Anticipates the filing of its annual financial statements and MD&A within 30 da

    




 SYMBOL & EXCHANGE: FGE-V 

 CALGARY, May 1, 2012 /CNW Telbec/ - Forest Gate Energy Inc.   announces that it has not filed its annual financials and MD&A as of  today. 

 Having secured a new audit firm, Forest Gate anticipates filing its  annual financials and MD&A within 30 days. 

 Forest Gate's filing of its annual financials and MD&A is delayed due to  liquidity circumstances beyond the company's control. Failure to make  this filing will likely result in a cease trade of its shares. 

 About Forest Gate Energy Forest Gate Energy Inc. is a publicly listed oil and gas exploration and  production, and non-energy resource company trading on the TSX Venture  Exchange under the symbol FGE. The Corporation is seeking to increase  shareholder value through participation and development of energy and  other resources in Canada and internationally. 

 FORWARD-LOOKING STATEMENTS Certain statements regarding Forest Gate, including management's  assessments of future plans and operations and Forest Gate's  anticipated financial performance, may constitute forward-looking  statements under applicable securities laws and necessarily involve  known and unknown risks and uncertainties, most of which are beyond  Forest Gate's control. These risks may cause actual financial and  operating results, performance, levels of activity and achievements to  differ materially from those expressed in, or implied by, such  forward-looking statements. 

 Such factors include, but are not limited to: the impact of general  economic conditions in Canada and the United States; industry  conditions including changes in laws and regulations including adoption  of new environmental laws and regulations, and changes in how they are  interpreted and enforced; competition; the lack of availability of  qualified personnel; fluctuations in commodity prices; the results of  exploration and development drilling and related activities;  imprecision in reserve estimates; the production and growth potential  of Forest Gate's various assets; fluctuations in foreign exchange or  interest rates; the ability to access sufficient capital from internal  and external sources; and obtaining required approvals of regulatory  authorities. 

 Neither TSX Venture Exchange nor its Regulation Service Provider (as  that term is defined in the policies of the TSX Venture Exchange)  accepts responsibility for the adequacy or the accuracy of this  release. 

FOREST GATE ENERGY INC.


CONTACT:  Michael Judson, President & [e-mail] 


    

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