LevelStock.com: Royal Quantum Group, Inc. (OTCBB: RYQG) Drilling Underway on Bond #2 Well
Jan 27, 2010 (M2 PRESSWIRE via COMTEX) --
Companies: Royal Quantum Group Inc (RYQG), Royal Quantum Group Inc (RYQGE)
Braintree,Ma. LevelStock.com is pleased to announce to all of its members and investors information on Royal Quantum Group, Inc. (OTCBB: RYQG) The Company released news today stating"
Royal Quantum Group, Inc. (the "Company") (OTCBB: RYQG) announces drilling is underway on the Bond #2-18 prospect. The Bond #2-18 will be a direct offset to the Bond #1-18 which is now in production. The Bond #2-18 prospect has the potential for several pay zones with the prime objective being the 1st Wilcox Sandstone.
The company closed its previously announced funding at 60 units for a total of $150,000. Each Unit consists of 5,000 restricted common shares of the Company and will pay a dividend to the unit holder on a portion of the revenue received from the well. In addition, each unit will carry an option to purchase shares in the Company at $0.25 per share for a period of 18 months.
Management is continuing its review of additional opportunities for participation in the drilling of oil and gas wells in the area to increase shareholder value.
Royal Quantum is a North American-based exploration and development Company, focusing on the acquisition and development of cash flow or near term cash flow producing properties in the resource sector. Royal Quantum is a fully reporting public company trading on the OTCBB market under the symbol RYQG.
Visit the Royal Quantum Group, Inc. web site at www.royalquantum.com. Information included on the Company's website is not incorporated herein by reference or otherwise.
For additional information please contact:
Royal Quantum Group, Inc.
Suite #145, 251 Midpark Blvd. S.E.
Calgary, AB T2X 1S3 Tel: 403-288-4321 Fax: 403-201-5792
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Companies: Royal Quantum Group Inc (RYQG), Royal Quantum Group Inc (RYQGE)
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