Admiral Bay Updates Activity in SE Kansas Projects
04 June 2008 - 6:52AM
Marketwired
CENTENNIAL, COLORADO ("Admiral Bay" or the "Company") is pleased
to update activity in its projects in SE Kansas. In the Shiloh
field, the Company has ordered two new electric compressors that
will replace its current gas powered unit allowing increased sales
and lower operating costs. Delivery is scheduled for late summer.
It has also seen success utilizing compressed air to clean up near
wellbore damage in several wells. This method, termed "huff and
puff" injects air into the reservoir that loosens up coal fines
that have flowed to the near well bore resulting in restriction to
the flow of water and gas. The method as applied has turned around
wells that may have been damaged by fracing with flow rates
increasing up to 150% as a result. The cost is minimal and three to
five wells can be done in a day. A "huff and puff" test program has
also been carried out in the Devon field on 4 wells with similar
results.
In the Mound Valley field, the Company has commenced a 20 well
drilling program that will extend its production to the west and
test new acreage. A new amine plant and dehy have been installed
and additional upgrades to the gathering system are ongoing to
handle the anticipated production from the new wells.
In the Santa Rita project, the Company is reviewing proposals to
fracture stimulate the coals as well as the Chattanooga (Woodford)
shale in its existing wells. It expects to test these wells this
summer.
The Company has granted 750,000 options at $0.29 (CDN) to
various employees, officers and directors of the company. The
options vest over a period of two years and are exercisable for a
period of five years until June 3, 2013.
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
Admiral Bay Resources Inc. (TSXV:ADB)
Historical Stock Chart
From Jun 2024 to Jul 2024
Admiral Bay Resources Inc. (TSXV:ADB)
Historical Stock Chart
From Jul 2023 to Jul 2024
Real-Time news about Admiral Bay Resources Inc. (TSX Venture Exchange): 0 recent articles
More Admiral Bay Resources Inc. News Articles