Coalbed Methane (CBM) Corral Message Board

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Gold/Mining/Energy : Coalbed Methane (CBM) Corral

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From: LoneClone	4/28/2008 10:36:02 PM
	of 365

Admiral Bay Receives Commitment From GasRock to Begin Phase II of Program 18:18 EDT Monday, April 28, 2008 globeinvestor.com CENTENNIAL, COLORADO--(Marketwire - April 28, 2008) - Admiral Bay Resources Inc. (TSX VENTURE:ADB) ("Admiral Bay" or the "Company") is pleased to announce that its mezzanine debt provider GasRock Capital LLC has approved its Phase II program by advancing an additional $3,000,000 (US). The program will allow for the continuation of the Company's recompletion of Mulky/Summit zones as well as new drilling at the Mound Valley Project, completion work at the Santa Rita Project, electric compression for the Shiloh Project, additional saltwater disposal capacity at the Shiloh project and testing and completion operations with its partner at the Revloc Project in Pennsylvania. President and CEO Steven Tedesco commented "This new commitment by GasRock underscores the success we have had since putting their facility in place last fall. Their first phase of funding has allowed us to increase production and reduce per unit expenses to the point of being cash flow positive. With Phase II we can continue to aggressively develop our projects to grow production and reserves and take advantage of the current commodity price environment". 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. FOR FURTHER INFORMATION PLEASE CONTACT: Admiral Bay Resources Inc. Steven Tedesco President & C.E.O. (303) 350-1255 (303) 617-8956 (FAX) Email: stedesco@admiralbay.com or Admiral Bay Resources Inc. Robert Carington CFO (303) 350-1255 (303) 708-1861 (FAX) Email: rcarington@admiralbay.com Website: www.admiralbay.com The TSX Venture Exchange does not accept responsibility for the adequacy of this release.

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