Based on GEDCOM v5.5.1, I see no error in the general use of the tags. HOWEVER...
the PAGE tag is used only for specific things, here is the GEDCOM definition:
Specific location with in the information referenced. For a published work, this could include the volume of a multi-volume work and the page number(s). For a periodical, it could include volume, issue, and page numbers. For a newspaper, it could include a column number and page number. For an unpublished source or microfilmed works, this could be a film or sheet number, page number, frame number, etc. A census record might have an enumerating district, page number, line number, dwelling number, and family number. The data in this field should be in the form of a label and value pair, such as Label1: value, Label2: value, with each pair being separated by a comma. For example, Film: 1234567, Frame: 344, Line: 28.
On the other hand reunion is miss using the TEXT tag. It is define as:
A verbatim copy of any description contained within the source. This indicates notes or text that are actually contained in the source document, not the submitter's opinion about the source. This should be, from the evidence point of view, "what the original record keeper said" as opposed to the researcher's interpretation. The word TEXT, in this case, means from the text which appeared in the source record including labels.
The information in your citation should be distributed among various tags within the Source_Record to be valid GEDCOM.
This actually looks like the printable citation and while not really valid GEDCOM must be laid out in the fashion that each program wants the text so that it can be used by the program. This is one of the major problems programs all have when they don’t use standards correctly.