Admiral Bay Announces Indicated Oil Well At Swordfish Project In Eastern Kansas.TORONTO -- Questa Engineering Corporation contracted to do reserve report 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 Starting with the iMac in 1998, the ADB was superseded by USB. ) announces that the first well drilled in partnership with Charter Capital Resources Inc. at the Swordfish swordfish, large food and game fish, Xiphias gladius, of the warmer Atlantic and Pacific waters, related to the sailfish. It is named for its sharp, broad, elongated upper jaw, which it uses to flail and pierce its prey of smaller fish, rising beneath a school Project in Chautauqua County Chautauqua County is the name of several counties in the United States:
Pipe has now been run on the McKenzie 14-15 well after encountering positive oil and gas shows in the Layton sandstone, Ft. Scott Limestone, Cattleman sandstone and Mississippian carbonates. The well reached a total depth of 2,663 feet into the Arbuckle Dolomite dolomite (dō`ləmīt', dŏl`ə–). 1 Mineral, calcium magnesium carbonate, CaMg (CO3)2. . A total of five potential oil zones have been identified based on log analysis by Logtech Inc. of Ft. Hayes, Kansas and from samples and mudlogs run on the well while drilling. The McKenzie 14-15 is expected to be completed and produced as an oil well with gas. Completion and production is expected before the end of January, 2005. The drilling rig has now been moved to the House 3-25 well location, also in Chautauqua County. Admiral Bay is the Operator of the well. As per the partnership agreement previously announced (see news release of December 21, 2004) Charter has paid for 100% of the drilling and completion costs of the well. Admiral Bay will back in for 50% of the working interest after payout. Charter Capital has an option on twelve 320 acre blocks of land. Further drilling on the acreage blocks will have well spacing of 40 acres and subsequent offset drilling within each block is heads up 50/50. Admiral Bay has retained100% ownership in all pipelines or facilities that need to be constructed. Admiral Bay also wishes to announce that it has contracted Questa Engineering Corporation to evaluate reserves at the Company's Shiloh and Devon projects. These reports are expected to be published by the end of January, 2005. Admiral Bay Resources Inc. (www.admiralbay.com) is a Canadian oil and gas exploration and development company focused upon its producing projects in the Cherokee Basin in south-east Kansas. Production has begun at the Company's U.S. conventional 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 ) gas projects located in the Uintah, Cherokee and Appalachian Basins. The Company's Moose River Basin property is being explored for coalbed methane on over 250,000+ acres in the James Bay lowlands of northern Ontario. 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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