FairWest Energy Provides Corporate Update

FairWest Energy Corporation (TSX VENTURE:FEC) reported the first quarter it advanced two initiatives that are designed to improve its working capital position, reduce secured and unsecured debt and eliminate the requirement to be governed by a forbearance agreement with its principal lender.

The press release is quoted as saying:

The improvement of the Company’s financial position will allow the Company to pursue its substantial inventory of optimization, recompletion, tie in and drilling prospects. FairWest (TSX VENTURE:FEC) is a Calgary, Alberta based junior oil and gas company engaged in the acquisition, exploration, development and production of crude oil and natural gas in the provinces of Alberta and Saskatchewan.

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