Admiral Bay Announces Updated Reserve Report

Source: www.gulfoilandgas.com 10/11/2005, Location: Not categorized

Admiral Bay Resources Inc. has received an updated independent Gas Reserve Report from Questa Engineering Corporation of Golden Colorado. The report defines total net gas reserves as at August 31, 2005 of 311 Billion Cubic Feet (BCF), an increase of 217% from the previous report dated December 31, 2004.

As of August 31, 2005, only the Shiloh and Devon projects have Proved and Probable Reserves. As development continues on the other projects, current Possible Reserve estimates will be upgraded to either Proved or Probable Reserves. In the first eight months of operation in 2005, Admiral Bay has seen the reported Net Proved Reserves increase to 23.13 BCF from 3.414 BCF, an increase of 677%, the Net Probable Reserves increase to 9.61 BCF from 0.983 BCF, an increase of 977% and the Net Possible Reserves increase to 279.05 BCF from 138.923 BCF, or an increase of 200%.

As the Company continues to increase its acreage positions on its various projects, Possible Reserves will continue to increase. The Company currently holds approximately 140,000 acres and has set a target to increase its holding to 200,000+ acres by the end of 2006.


United States >>  7/1/2022 - As the second step in a three-step planning process, the Department of the Interior issued the “Proposed Program” for the National Outer Continental S...
United States >>  7/1/2022 - On July 1, 2022, the Department of the Interior (DOI) announced the availability of the Proposed Program for the 2023-2028 National Outer Continental ...

United Kingdom >>  6/28/2022 - Baron Oil Plc, the AIM-quoted oil and gas exploration company with projects in SE Asia and the UK, announces that at the Annual General Meeting of the...
Egypt >>  6/27/2022 - Engineer Tarek El Molla, Minister of Petroleum and Mineral Resources, discussed with Roger Planck, Chairman of the Board of Directors of the American ...

Mongolia >>  6/27/2022 - The AIM-listed Mongolian oil explorer Petro Matad Limited ("Petro Matad" ) releases its audited final results for the fiscal year that ended on Decemb...
Uruguay >>  6/27/2022 - With assets in oil production, appraisal, development, and exploration across the region, Challenger Energy (CEG), an oil and gas company with a focus...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.