Admiral Bay Resources, Inc

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-	Centennial, Colorado-based '''Admiral Bay Resources, Inc''' (TSX Venture: ADB) owns a 50% working interest in 6,000 acres prospective for [[Marcellus shale]] that are part of the REVLOC Project, a coal-bed methane (CBM) project in Cambria County, PA. The other 50% partner is Bristol, England's ''Osceola Hydrocarbons Ltd''. It was reported in April that another Centennial, Colorado company, [[Running Foxes Petroleum Inc.]] actually owned the 50% working interest is the same 6,000 acre REVLOC tract. The relationship, if any, between these three companies awaits further clarification. Osceola's annual report state:	+	Centennial, Colorado-based '''Admiral Bay Resources, Inc''' (TSX Venture: ADB) owns a 50% working interest in 6,000 acres prospective for [[Marcellus shale]] that are part of the REVLOC Project, a coal-bed methane (CBM) project in Cambria County, PA. The other 50% partner is Bristol, England's ''Osceola Hydrocarbons Ltd''. It was reported in April that another Centennial, Colorado company, [[Running Foxes Petroleum Inc]] actually owned the 50% working interest is the same 6,000 acre REVLOC tract. The relationship, if any, between these three companies awaits further clarification. Osceola's annual report state:
	<blockquote>		<blockquote>
	"Our Revloc partner, ''Admiral Bay'',elected not to develop the shale gas and so Running Foxes Petroleum joined forces with Osceola and assumed operation of this project."		"Our Revloc partner, ''Admiral Bay'',elected not to develop the shale gas and so Running Foxes Petroleum joined forces with Osceola and assumed operation of this project."

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Revision as of 06:35, 5 May 2009

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Centennial, Colorado-based Admiral Bay Resources, Inc (TSX Venture: ADB) owns a 50% working interest in 6,000 acres prospective for Marcellus shale that are part of the REVLOC Project, a coal-bed methane (CBM) project in Cambria County, PA. The other 50% partner is Bristol, England's Osceola Hydrocarbons Ltd. It was reported in April that another Centennial, Colorado company, Running Foxes Petroleum Inc actually owned the 50% working interest is the same 6,000 acre REVLOC tract. The relationship, if any, between these three companies awaits further clarification. Osceola's annual report state:

"Our Revloc partner, Admiral Bay,elected not to develop the shale gas and so Running Foxes Petroleum joined forces with Osceola and assumed operation of this project."

• Steven Tedesco is Admiral Bay's President & C.E.O.
• Robert Carington is CFO.