Royal Quantum Group Inc. Update on Property Acquisitionadmin
Friday, August 1st 2008
Royal Quantum Group, Inc. 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.
Visit the Royal Quantum Group, Inc. web site at www.royalquantum.com.