A bullish article
Take advantage of the cheap shares.........
2) ADMIRAL BAY RESOURCES: I am a huge advocate of natural gas and I believe Adb will develop large gas reserves and will become a player in their industry. There is no secret to the fact that the properties in Kansas will become a cash cow as they are drilled and brought online. The problem that Adb is experiencing is a problem of getting their wells tweaked and online with increasing cash flow as the numbers of wells increase and as the water is drained off the coalbed methane pockets. I believe that Adb made some predictions in 2004 that were a little ahead of themselves and as a result the company is playing catch-up. The number of wells and the cash flow that Adb expected to have online and flowing were too optimistic for a young company. Steve Tedesco is now in charge and I know that Steve is a man who knows exactly what he wants to accomplish with Adb. I have been told that Adb has a goal of 150 producing oil and gas wells by the end of 2005 and 300 wells by the end of 2006. Again these are lofty goals but the only thing that should keep them from achieving these goals is the time frame that they have set for themselves to drill and bring these wells online. With Adb having pulled back to $1.00 Can. I view this stock as oversold. I took profits on some of my stock above $1.50 but at these levels I view the stock as attractive. I think it is very important that they get their wells tweaked and online so that investors can begin to see the value that is being developed.
Since writing the above Adb has announced that they have now achieved production of 1228 thousand cubic feet per day of natural gas production and production continues to increase. This is exactly the kind of news that Adb needs to release to its shareholders. Also of importance is the Johnson 10-23 well on the Shiloh properties where production has increased from 60 mcfgpd to 110 mcfgpd in only seven days of being online. This is good news and bodes well for the future.