Admiral Bay Announces Consolidation of Operations to its Denver, Colorado Office
Friday November 4, 12:14 pm ET
TORONTO, ONTARIO--(CCNMatthews - Nov. 4, 2005) - Admiral Bay Resources Inc. (TSX VENTURE:ADB - News) announces that it is in the process of consolidating all of its operations to its Denver, Colorado office. The process will be complete by the Annual General Meeting of Shareholders to be held in January 2006, at which time, the Company will have moved the head office to Denver.
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In addition, Mark Brennan, has resigned as Director, CEO and Chairman of the Board, to pursue other interests. Admiral Bay would like to thank Mr. Brennan for his valuable contribution in the development of the Company to date. During the period when Mr. Brennan was CEO, the Company has grown from a startup venture to a Company with six projects under development, 311 BCF of Proved, Probable and Possible Reserves as cited in Admiral Bay's recent Reserve Report by Questa Engineering of Golden, Colorado and released in a previous news release of October 11, 2005.
Steve Tedesco, President of Admiral Bay, has been appointed CEO and Chairman of Board. Mr. Tedesco commented, "We wish Mr. Brennan well in his future endeavors and thank him for helping guide the Company through this first phase of the Company's development".
Admiral Bay Resources Inc. (www.admiralbay.com) is an emerging coal bed methane (CBM) production company focused on the development of projects in the Cherokee Basin in southeast Kansas and the Appalachian Basin, in Pennsylvania. The Company's current gas production is in approximately 1 MMcf/day. Admiral Bay is listed on the TSX Venture Exchange under the symbol ADB.
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