We could not find any results for:
Make sure your spelling is correct or try broadening your search.
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 | - |
Related to its previously announced acquisition of the Thayer Project, the Company has entered into a swap agreement for 60 MMCFG per month with a $5.107 swap price at the Southern Star index beginning June 2009 thru December 2010. The Company also sold calls on 60 MMCFG per month at $8.00 NYMEX from January 2011 thru April 2012. These new hedges combined with the Company's existing costless collar for 60 MMCFG per month with a $5.50 floor and $9.00 ceiling at the Southern Star index that run thru March 2010 cover over 80% of the Company's gross sales proforma for the Thayer Project acquisition and provide a stabilizing effect to the Company's near-term cash flow at prices well in excess of the current spot prices in its market area.
In addition, the company has reduced salaries for all field staff and middle management by 10% and senior management by 20% until the market fundamentals improve.
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".
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
Contacts: Admiral Bay Resources Inc. Steven Tedesco President & C.E.O. (303) 350-1255 (303) 617-8956 (FAX) stedesco@admiralbay.com Admiral Bay Resources Inc. Robert Carington CFO (303) 350-1255 (303) 708-1861 (FAX) rcarington@admiralbay.com
1 Year Admiral Bay Resources Inc. Chart |
1 Month Admiral Bay Resources Inc. Chart |
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions