Admiral Bay Announces Gas Sales Have Re-Commenced at the Devon Project in Bourbon County, Kansas.TORONTO -- Admiral Bay Resources Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:ADB (Apple Desktop Bus) A low-speed serial bus for connecting keyboards, mice and other input devices on Apple IIgs and Macintosh computers. Starting with the iMac in 1998, the ADB was superseded by USB. ) is pleased to announce that gas sales have re-commenced at the Devon Project, after being shut-in for the last 60 days due to excess carbon dioxide carbon dioxide, chemical compound, CO2, a colorless, odorless, tasteless gas that is about one and one-half times as dense as air under ordinary conditions of temperature and pressure. from the coals and problems with the compressor. Admiral Bay has now installed a carbon dioxide stripping plant to reduce the CO2 content of the gas to a level that is pipeline quality and has fixed all compressor problems. Twelve wells are now being dewatered and beginning to produce gas at the project. The Company is in the process of drilling the next block of twelve wells. Drilling is expected to be finished by March 4, 2005, with the wells being completed and producing gas by the end of March. The Martin 14-14, Rhodes 6-24, Rhodes 4-24, Young 8-9, Gobl 2-31 and Odell 2-26 have been drilled and pipe has been run. All of these wells have encountered gas in at least three coals, along with conventional oil and gas from the Bartlesville sandstone and Mississippian limestone. At the Company's Swordfish Project in Chautauqua County, Kansas Chautauqua County (county code CQ) is a county located in Southeast Kansas, in the Central United States. The population was estimated to be 3,953 in the year 2006.[] Its county seat and most populous city is Sedan. , drilling of the House 3-26 is underway. The drill is presently below 1,700 feet, with drilling expected to be complete within 2 days. The well is targeting the Mississippian carbonates at a target depth of 2,600 feet. Admiral Bay has also completed a non-brokered private placement of 118,594 common shares at $1.47 per share. Each of the common shares is subject to a hold period that expires on June 22, 2005. Admiral Bay Resources Inc. (www.admiralbay.com) is a Canadian oil and gas exploration and development company focused on developing its producing projects in the Cherokee Basin in southeast Kansas. Conventional gas and coalbed methane (CBM CBM Commodore Business Machines CBM Coalbed Methane CBM Christoffel Blindenmission CBM Condition Based Maintenance CBM Confidence-Building Measures CBM Curriculum Based Measurement (education) CBM Cubic Meter ) production has begun at the Company's Shiloh, Devon and Quest projects in Kansas and Utah. The Company is listed on the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. . 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 The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 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. Admiral Bay Resources Inc. (TSX VENTURE:ADB) |
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