The following are today's and yesterday's news releases from Admiral Bay Resources Inc.
To view the current corporate presentation or profile, click on the links below:
(these links do not change, the files are continuously updated)
Presentation - http://www.admiralbay.com/corporate/flash.cfm?lang=en
If you have any questions regarding this e-mail, please do not hesitate to contact
Curt Huber
V.P. Corporate Development
604-628-5642 / 866-217-1620
info@admiralbay.com
Thank you,
Admiral Bay Resources
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ADMIRAL BAY PROVIDES UPDATE ON REVLOC PROJECT
Centennial, CO July 3, 2007
Admiral Bay Resources Inc. (TSX.V: ADB) reports that the Company has farmed out a 25% working interest in its Revloc Project to a private company (the "Farmee"). The Farmee earns a 25% working interest and an 82.5% net revenue interest by paying $1,000,000 (approximately $250/acre). Farmee will also pay 100% of the cost to drill and case seven test wells currently permitted with Admiral Bay acting as operator. In addition, the Farmee will be required to pay 100% of the cost to core and analyze all the coals in at least three of the seven wells. Upon running casing on the seventh well, the Farmee will have 60 days in which to exercise an option to purchase an additional 25% to 50% of the working interest for an additional $1,000,000 to $2,000,000 respectively. Drilling is planned for late summer or fall 2007. The Company will retain a 2.5% to 14.5% overriding royalty depending upon the lease. This will allow the Company to test the property with minimum risk. Subsequent to the drilling and Farmee's election, the parties go forward on a heads up basis and Admiral Bay will remain the operator of the Revloc project.
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
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ADMIRAL BAY PROVIDES UPDATE ON DEVON PROJECT
Centennial, Co July 2, 2007
Admiral Bay Resources Inc. (TSX.V: ADB) reports that the Company has recently optioned certain rights to a portion of its acreage in the Devon project area to an independent operator. The option is only specific to a conventional zone known as the Bartlesville, and is adjacent to the operator's existing project in the Cherokee Basin. The option was acquired from the Company for US$252,000. Within 30 days of the completion of certain ongoing drilling, the operator may acquire the optioned rights for an additional payment of US$144,000 to Admiral Bay. If exercised, the total payment will be approximately $900/acre. The Company retains all other coal bed methane and conventional rights plus a 3% overriding royalty on any hydrocarbons recovered by the other Operator.
This option is an extension of the option granted to the same operator as announced on May 16, 2007 and is not part of the previously reported strategic alternatives as outline in the Company's June 25, 2007 news release.
The Company reported that its production has remained steady despite severe weather and the worst flooding in recorded history in southeastern Kansas and northeastern Oklahoma this past week. Operations have been temporarily suspended until the rivers and streams recede and the rain stops allowing full access to roads and facilities.
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
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Admiral Bay Resources
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CODE : ADB.V |
ISIN : CA 0071311058. |
CUSIP : 007131105 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Admiral Bay Res. is a producing company based in United states of america. Admiral Bay Res. holds various exploration projects in USA. Its main exploration properties are REVLOC, DEVON and SHILOH in USA. Admiral Bay Res. is listed in Canada and in United States of America. Its market capitalisation is CA$ 411 378 as of today (US$ 406 359, € 303 713). Its stock quote reached its highest recent level on December 30, 2005 at CA$ 2.30, and its lowest recent point on December 31, 2009 at CA$ 0.04. Admiral Bay Res. has 5 142 225 shares outstanding. |