SOURCE: Royal Quantum Group, Inc.

January 07, 2010 17:32 ET

Royal Quantum Update to Shareholders

CALGARY, AB--(Marketwire - January 7, 2010) - Royal Quantum Group, Inc. (OTCBB: RYQG) (the "Company") is pleased to update shareholders on the progress of its Bond #1-18 well, located in north central Oklahoma. The well continues to flow oil from the Wilcox formation at rate of approximately 92 bbls per day and 45,000 cubic feet of gas. Royal Quantum has a 25% interest in this well. As per the terms of the financing the company will distribute 60% of its net revenue received from the Bond #1-18 to the unit holders.

The Company will be participating in its 3rd well, the Bond #2-18 which will be a direct offset to the Bond #1-18 well. Drilling is expected to commence in late January. Funding for participation in the Bond #2-18 will be facilitated through the issuance of up to 60 units at a price of USD $2,500 per unit ("Unit") for a total of USD $150,000. Each Unit will consist 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 wells. 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.

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.

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 web site 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