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Farmed into 38,700-acre Thayer & Mound Valley projects in Neosho, Wilson & Labette cos., KS, in Cherokee Basin.

Italy's Euramerica Energy Inc. has farmed into the Thayer and Mound Valley projects in the Cherokee Basin of Kansas from Admiral Bay Resources Inc. (Toronto Venture: ADB) for a total commitment of $5.75 million. The Thayer is a 10,000-acre project in Neosho and Wilson counties, in southeastern Kansas. The Mound Valley coalbed-methane project is 28,700 net acres in Labette County, in eastern Kansas. Euramerica has agreed to drill 25 wells in 2009 and 25 wells in 2010 and will pay all costs of drilling and completing. Upon connection to the pipeline, Admiral Bay will retain a 20% working interest and be operator and Euramerica will earn an 80% working interest in each well. Euramerica earns only the wellbore and associated spaced land for each well it funds. Drilling is expected to begin within 60 days of funding.