SOURCE: Royal Quantum Group Inc.

July 31, 2008 14:17 ET

Royal Quantum Group Inc. Update on Property Acquisition

CALGARY, AB--(Marketwire - July 31, 2008) - Royal Quantum Group, Inc. (OTCBB: RYQG) announces phase one of the engineering evaluation on the Ohio Oil & Gas property has been completed and is now under review by management and the property owners. This phase consisted of a detailed analysis of the existing production values only. Further analysis of the property is to include the behind pipe, down-hole, coal bed methane and Marcellus shale potential and will be evaluated over the coming months. Continued analysis of the property will be contingent on successful negotiations with the landowner to allow for the time to conclude the report. Information on the report will be released upon its completion.

The company is continuing its discussions with the landowner to allow for the additional time required in order to complete the required 3rd party engineering evaluation of the property. This evaluation was done at the request of the lending institution, as one of their requirements for the release of funds to conclude the acquisition.

Statements released by Royal Quantum Group, Inc. that are not purely historical are forward-looking within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the company's expectations, hopes, intentions, and strategies for the future. Investors are cautioned that forward-looking statements involve risk and uncertainties that may affect the company's business prospects and performance. The company's actual results could differ materially from those in such forward-looking statements. Risk factors include but are not limited to general economic, competitive, governmental, and technological factors as discussed in the company's filings with the SEC on Forms 10-K, 10-Q, and 8-K. The company does not undertake any responsibility to update the forward-looking statements contained in this release.

Visit the Royal Quantum Group, Inc. web site at Information included on the Company's website is not incorporated herein by reference or otherwise.

Contact Information

  • 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