News

December 05, 2008

Unconventional Gas Producer Admiral Bay Resources Achieves Record Production With More To Come in Q1 2009

US-focused Admiral Bay Resources, listed on the TSX Venture exchange, must be doing something right. Positive news flow during the week sent share prices flickering back up in the right direction again in contrast to pretty much all of the company’s peers.

This has not reversed the huge losses from the sharp decline witnessed by the small E&P sector since the summer but it has created some fresh and positive momentum. A bit of good news is always welcome especially in the current gloomy economic climate.

The reasons are simple enough with Admiral Bay this week declaring record production, both for its full fiscal year to end-July 2008, and for the month of November, with gross gas sales totaling 3.5million cubic feet of gas a...