Cambrex Corp. (CBM)

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Admiral Bay Reaches Record Production Levels in Kansas
Thu Feb 12, 5:05 PM

http://ca.news.finance.yahoo.com/s/12022009/28/link-f-ccnmatthews-admiral-bay-reaches-record-production-levels-kansas.html

CENTENNIAL, COLORADO--(Marketwire - Feb. 12, 2009) - Admiral Bay Resources Inc. (TSX VENTURE: ADB.V)("Admiral Bay" or the "Company") is pleased to announce that it has reached its previously stated goal of 4 MMCFPD of gross sales from its Kansas projects, a result of recent development activity. The Company has completed the installation of 3 electric compressors and is adding new third-party gas production in its Shiloh project. In addition, the Company has completed the expansion of its gathering system and the connection of 15 new wells in its Mound Valley project drilled in 2008. The Company has also completed three wells in its Devon/Ft. Scott project and is adding additional third-party gas production. The Company expects continued gas sales growth as the new wells de-water and through additional drilling and recompletion work in its Kansas projects in 2009.

"We are pleased with the continued growth of production and improved efficiencies in our Kansas coal bed methane projects," said Steve Tedesco, Admiral Bay Chief Executive Officer. "We have achieved solid results from our last capital program and Admiral Bay is now set for further low risk development with over 150 potential low-risk development locations along our recently upgraded gathering systems in Kansas."

Annual General Meeting Results

Admiral Bay is pleased to announce that all items on the previously announced agenda for the Company's Annual General Meeting were approved by the shareholders. The meeting was held on February 10, 2009 at the Company's corporate office in Denver, Colorado.

Directors elected for the ensuing year are Bill Powers, Steve Tedesco, Vern Swanson and Steven Quoy. Bill Powers will remain Chairman of the Board, Steve Tedesco remains President and Chief Executive Officer, and Robert Carington will remain the Company's Chief Financial Officer.

Steven Quoy is the President and co-founder of AltaWind Energy Corporation, a wind energy developer of utility scale electric generation projects in North America . From 1984 to July 2008, prior to establishing AltaWind, he was the Managing Director of Fixed Income and Capital Markets for several Regional and NYSE member firms, specializing in public and private debt financing, structured debt and corporate finance. Mr. Quoy has been a frequent consultant to numerous financial institutions and private trusts, and has more than 20 years of experience in structuring capital assets to manage interest rate risk and liquidity needs. He received his Bachelor of Science degree in Business Management from Metropolitan State College of Denver.

The Company granted 200,000 stock options to a Director of the Company exercisable at a price of C$0.08 per share for a period of five years until February 10, 2014.

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".

The TSX Venture Exchange does not accept responsibility for the adequacy of this release.

Contacts

Steven Tedesco
Admiral Bay Resources Inc.
President & C.E.O.
[phone]
[phone] (FAX)
Email: [e-mail]

Robert Carington
Admiral Bay Resources Inc.
CFO
[phone]
[phone] (FAX)
Email: [e-mail]
Website: www.admiralbay.com