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ADB Admiral Bay Resources Inc.

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Share Name Share Symbol Market Type
Admiral Bay Resources Inc. TSXV:ADB TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Admiral Bay Reports That Gross Sales Hit 3.0 MMCFGPD and With Current Gas Prices It Is Cash Flow Positive

17/04/2008 7:16pm

Marketwired Canada


Admiral Bay Resources Inc. (TSX VENTURE:ADB) ("Admiral Bay" or the "Company") is
pleased to announce that the Company currently has gross sales of approximately
3.0 MMCFGPD from all three producing projects in Kansas. Based on present
production and present realized prices above $9.00 per MCF the Company is cash
flow positive.


In the Mound Valley project, a new compressor and dehydration unit put in place
has increased sales by 30% to over 1000 MCFGPD in the past week. Producing rates
have been as high as 1400 MCFGPD. Currently production is curtailed at 800
MCFGPD as adjustments are made to the new facilities. As the field pressures are
drawn down, the field has experienced higher water production. As this water
production decreases, gas production will increase. The project has seen an
increase of over 300% of gross sales since January of 2008. The upgraded
facilities were needed due to the Company's successful recompletion program in
the Mulky Summit. To date, the Company has recompleted 25 wells in the Mulky
Summit with average IP of 28 MCFGPD. The Company has a 100% working interest
interesting over 28,000 net acres in the Mound Valley project. There are 11
additional wells awaiting completion and over 300 potential drilling locations.


With the success of the program in Mound Valley, the Company has begun a similar
program in its Shiloh Project. The Company to date has recompleted six wells in
the Mulky Summit with IP's ranging from 5 to 40 MCFGPD. The Company could have
as many as 105 additional wells in the Shiloh Project that could be recompleted
in the Mulky Summit in the future.


Admiral Bay also announces that Vern Swanson, one of the Company's current
Directors, has been appointed Corporate Secretary, replacing Curt Huber. Mr.
Huber has resigned his position of Corporate Secretary and V.P. Corporate
Development in order to pursue other personal commitments, but will remain a
consultant to the Company. For investors/shareholders requiring information on
the Company, please contact our Denver office at 303-350-1255 or
info@admiralbay.com.


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".


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