Admiral Bay's corporate objective is to become a mid-tier gas producer by:
- Acquiring properties in the early stages of development for coalbed methane and conventional oil and gas located next to strong gas markets, and by;
- Focusing on the development of coalbed methane and shallow conventional oil and gas plays.
MOUND VALLEY PROJECT
Project Overview
The Mound Valley Project , is located in Labette County, in southeastern Kansas, 36 miles south of the Company's Shiloh project and 12 miles east of Independence Kansas. Admiral Bay holds a 100% Working Interest in this 28,700 acre project, which has a PDP, PDNP and PUD of 10.4 Bcf (billion cubic feet), 2.86 BCF Probable and 28.49 BCF Possible as reported in the Questa Engineering reserve report of July 31, 2007.
Mound Valley has become a major focus for the Company in 2008. So far in 2008, Admiral Bay has completed 15 existing wells in the Excello (Mulky) and Summit carbonaceous shales and has seen production rise from 250 MCFGPD to over 650 MCFGPD for the field. The Company is presently completing these zones in all remaining 38 wells. Compression is being upgraded to handle 1.0 to 1.2 MMCFGPD. All of the potential zones are found from 250 to 800 feet. The Company is actively leasing in the area.
Based on the current acreage position, the Company has over 307 drilling locations for future development. Admiral Bay will continue to increase its acreage position in the project area.
map showing the location
of the existing wells and
an outline of acreage.
