Admiral Bay Announces New CBM Leases in the Revloc Project in the Appalachian Basin, Pennsylvania
May 06 2008 - 4:02PM
Marketwired
CENTENNIAL, COLORADO ("Admiral Bay" or the "Company") is pleased
to announce that the Company and its 50% partner in the Revloc
Project have leased an additional 7,590 gross acres of CBM leases.
The additional lands are just north of the Company's existing
acreage block and include all the coal seams. The Company is
continuing to expand its acreage position based on the previously
announced positive drilling results in the Revloc Project. The
Company plans to test three of the wells drilled previously as well
as drill 3 additional appraisal wells this summer.
The Company also granted 200,000 stock options to a Director for
joining the Board at a price of $0.33 (CDN) a share, vested over a
period of two years and exercisable for a period of five years
until May 6, 2012.
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.
Contacts: Admiral Bay Resources Inc. Steven Tedesco President
& C.E.O. (303) 350-1255 (303) 617-8956 (FAX) Email:
stedesco@admiralbay.com Admiral Bay Resources Inc. Robert Carington
CFO (303) 350-1255 (303) 708-1861 (FAX) Email:
rcarington@admiralbay.com Website: www.admiralbay.com
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