ADMIRAL BAY PROVIDES UPDATE
Centennial, Colorado 26 June 2007
Admiral Bay
Resources Inc. (TSX.V: ADB) is providing an update on the "expression of interest" process
as previously announced on January 10, 2007. Management and the Board are still
evaluating the Companys strategic alternatives and
expect to make a decision shortly. The process, which began with an
"expression of interest" from one entity, has evolved into two, or
perhaps three viable alternatives. It is the Boards goal to select an alternative
that is in the best interest of all shareholders and, of course, will maximize
shareholder value.
In addition, the Company
has recently refraced seven wells at the Shiloh
Project. These wells continue the dewatering process and have begun making significantly
more gas then they were prior to the refrac work.
At Mound Valley
the company has hooked up an additional nine wells and will begin dewatering
shortly. It is also building a five mile pipeline to connect three out lying
wells that have conventional and unconventional gas ready to be produced.
At Devon,
the company has put into operation a saltwater disposal well that is taking 300
bbls of water a day. This significantly reduces
operating expenses and allows the project wells to dewater with minimal
interruption. Company wide gas production remains at between 3.0 and 3.4
MMCFGPD from the Shiloh, Mound Valley and Devon
projects.
Admiral Bay
Resources Inc. (www.admiralbay.com) is an emerging unconventional gas
production company focused on the development of projects in the Cherokee Basin
in southeast Kansas and the Appalachian Basin
in Pennsylvania.
Admiral Bay is listed on the TSX Venture Exchange under the symbol ADB.
Statements in this release that are not
historical facts are forward-looking statements within the meaning of the U.S.
Private Securities Litigation Reform Act of 1995. Readers are cautioned that
any such statements are not guarantees of future performance and that actual
developments or results may vary materially from those in these forward-looking
statements.
The TSX Venture Exchange does not accept responsibility for the adequacy
of this release
For More
Information
Curt Huber
V.P. Corporate Development
Tel: (604) 628-5642
Toll Free: 1-866-217-1620
Email: info@admiralbay.com