Spade Resources Ltd. acquires ownership and control of 7,980,000 common shares of Forest Gate Energy Inc.

CALGARY, July 26, 2011 /CNW/ -- 
Not for distribution to United States news wire services or
 dissemination in the United States.


CALGARY, July 26, 2011 /CNW Telbec/ - On February 18, 2011 (the "Closing Date") Spade Resources Ltd. ("Spade") acquired ownership and control of 7,980,000 common shares (the "Common Shares") of Forest Gate Energy Inc. ("Forest"), representing approximately 16.75% of Forest's issued and outstanding
 common shares as of the Closing Date.  The Common Shares were acquired
 by Spade privately and not through any market, at a deemed price of
 $0.10 per Common Share, and were subject to a four month hold period.


Spade acquired the Common Shares as partial consideration for the sale
 by Spade to Forest of certain oil and gas assets valued.  Spade has no
 future intention to  acquire ownership of, or control over, additional
 securities of Forest.


As of July 15, 2011 Spade no longer held greater than 10% of the issued
 and outstanding Common Shares of Forest.


This new release is being issued pursuant to securities legislation in
 each province of Canada and will be filed on the System for Electronic
 Document Analysis and Retrieval ("SEDAR") with the report required under National Instrument 62-103 - The Early
 Warning System.


The head office of Spade is located at 30 Gladys Ridge Road S.W.,
 Calgary, Alberta  T3E 4H8. 


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


To view this news release in HTML formatting, please use the following URL: http://www.cnw.ca/en/releases/archive/July2011/26/c7648.html



p Please contact Ken Dyck at [phone]. /p 

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