Admiral Bay Resources, Inc

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Centennial, Colorado-based Admiral Bay Resources, Inc (TSX Venture: ADB) owns a 50% working interest in 6,000 acres prospective for Marcellus shale that are part of the REVLOC Project, a coal-bed methane (CBM) project in Cambria County, PA. The other 50% partner is Bristol, England's Osceola Hydrocarbons Ltd. It was reported in April that another Centennial, Colorado company, Running Foxes Petroleum actually owned the 50% working interest is the same 6,000 acre REVLOC tract. The relationship, if any, between these three companies awaits further clarification. Osceola's annual report state:

"Our Revloc partner, Admiral Bay,elected not to develop the shale gas and so Running Foxes Petroleum joined forces with Osceola and assumed operation of this project."
  • Steven Tedesco is Admiral Bay's President & C.E.O.
  • Robert Carington is CFO.
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