ADB Admiral Bay Resources Inc.

Admiral Bay Resources Inc. (TSX VENTURE:ADB) ("Admiral Bay" or the "Company") is
pleased to report record production for the second quarter ended April 30th,
2009. Average daily production (before royalty) was 3,516 MCFEPD, a 37% increase
over 3rd quarter of 2008 and 2% increase over the 2nd quarter of 2009.
Production costs, excluding the Thayer acquisition completed at the end of the
quarter, were $2.40/mcf, a decrease of 10% when compared to Q3 2008 and G&A
expense was $1.22/mcf, a decrease of 31% from Q3 2008. Revenues (before
royalties and hedging impact) were $0.9 million, a decrease of 50% year over
year due to a 64% decrease in natural gas prices partially offset by the
increase in production volumes. Including the impact of hedging, revenues were
$1.4 million or a 23% decrease from the prior year. Earnings for the quarter
were a loss of ($ 2.2 million) versus ($ 2.5 million) in the prior period.


President and CEO Steven Tedesco commented "Despite the sharp reduction in
natural gas prices, we have been able to grow production while reducing overall
costs in response to these challenging times. We are continuing to grow the
Company as evidenced by the recent acquisition of the Thayer project in Kansas
that will allow us to show further growth in production going forward while we
continue to aggressively lower costs in all our project areas and corporately.
We continue to look for additional ways to take advantage of the current
environment to grow the Company while improving our cost structure and
liquidity".


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".

Admiral Bay Resources Inc. (TSXV:ADB)
Gráfica de Acción Histórica
De Jun 2024 a Jul 2024

Admiral Bay Resources Inc. (TSXV:ADB)
Gráfica de Acción Histórica
De Jul 2023 a Jul 2024