QMAC to Participate in the Drilling of Three New Wells
QMAC Energy Inc. (Pink Sheets:QMCG), a Nevada corporation with a gas development program and producing wells in Montana, today announces it has agreed with its operator to drill a further three wells in the Lake Francis Gas Field. These wells will be drilled in November, subject to drilling rig availability.
The Company has agreed with its operator, Altamont Oil & Gas, to drill three new natural gas wells in the Lake Francis Field. These additional wells will add to the Company’s present Working Interest in six (6) producing natural gas wells in the Lake Frances Field. These wells are infill in nature and the Company considers the chance of success very high.
About QMAC Energy
QMAC Energy, Inc. is a Nevada Corporation, engaged in the business of natural gas exploration, drilling and production. QMAC’s current operations consist of a 25% interest in three operating gas wells and a 10% interest in a fourth operating gas well in Montana’s Lake Frances gas field. QMAC expects the price of natural gas to remain high and demand to be strong. QMAC intends to aggressively add to its portfolio of operating gas wells throughout the Lake Frances gas well field. “American Energy for Americans”
About Altamont Oil & Gas Inc.
Altamont Oil & Gas Inc., our operator, is the largest gas producer in Pondera County, Montana, and has grown from 42nd largest amongst statewide producers to within the top twenty over the last 12 months. Altamont is a fully integrated northern Montana-based, “hands-on” producer, which conducts all of its land acquisition, exploration, development, and production activities in-house. Altamont and its associated company own all of the gathering and production facilities in both the Frances Lake field and the nearby Williams field. Altamont is the largest leaseholder in Pondera County.
Safe Harbor Statement:
This news release may include forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities and Exchange of 1934, as amended, with respect to achieving corporate objectives, developing additional project interests, the Company’s analysis of opportunities in the acquisition and development of various project interests and certain other matters. These statements are made under the ‘safe harbor’ provisions of the United States Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements herein.