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Riverbank Investment Corp. (RRBK)

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Last Post: 11/10/2006 7:09:25 PM - Followers: 0 - Board type: Free - Posts Today: 0

Message Board for RRBK. Recently entering into OIL Industry Pink sheets Info.: Outstanding Shares: 100,000,000 as of 2003-04-30 Estimated Market Cap: N/A Authorized Shares: 150,000,000 as of 2003-04-30 Address: 4416 E. Alderdale Ave. Annaheim Hills, CA 92807 USA Phone: 714-366-9263 Riverbank Enters Oil and Gas Industry ANAHEIM HILLS, CALIFORNIA, May 8, 2006 (CCNMatthews via COMTEX) -- Riverbank Investment Corp.'s (OTCBB:RRBK) Board of Directors are please to announce that the company has entered into an agreement to acquire an 80% working interest in a 640 acre property in Oklahoma near the Texas border that is known for its production of oil and gas. With oil hovering around the $70 per barrel price and natural gas fluctuating between $7.00 and $14.00 per thousand cubic feet, management feels that the time is right to enter this highly profitable and explosive sector. The Property has a long history of oil and gas exploration and production that goes back to the early 1980's and before, when it was first drilled. Early exploration of the property revealed pools of oil and natural gas, but at the time because of the low price of both commodities it was determined that it wasn't economical to proceed with the development of the wells. With the prices of both oil and gas where they are these like so many other properties in the United States are now very feasible to put into production. The existing well - The Lomis #1- has the potential to produce 50 barrels of oil per day and 1,500,000 cubic feet of gas today. Based on those production numbers the well will produce cash flow to Riverbank of over $300,000 per month. Once that well is up and producing the company plans to drill a minimum of seven other wells. Part of the property lays within the Chester Zone a well-known gas production area in the Oklahoma - Texas areas. We have estimates from Haliburton, Boomer Well Service and others to complete putting the first well back into production for less than $200,000. "We are very excited by this addition to the Riverbank stable of assets and even more excited by the prospects of expanding the oil and gas production of this area. With the prices of oil and gas where they are today, this could prove to be a very profitable investment over the short and long terms," said John Crasta, CEO of Riverbank Riverbank Moves Closer to Oil and Gas Production ANAHEIM HILLS, CALIFORNIA, May 24, 2006 (CCNMatthews via COMTEX) -- Riverbank Investment Corp. (OTCBB:RRBK) in conjunction with it's recently announced agreement to acquire an 80% interest in the 640 acres of oil and gas producing assets in Oklahoma near the Texas border, that it is moving steadily closer to getting the Lomis #1 Well back into production. A key part of the agreement required that $200,000 be paid to Halliburton, Boomer Well Service and others to complete putting the first well back into production. The $200,000 which will enable the agreement to be completed and the production to begin within 60 days has been placed into escrow for this purpose. "Now that we are inching closer to the day when this property will be producing a very strong positive cash flow to the company," said John Crasta, CEO of Riverbank. "This is a very exciting time for Riverbank as it steps closer to becoming a revenue producing resource company." he added.
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#20   Look for this one to be sold off! spurcon 11/10/06 07:09:25 PM
#19   does any one know of any kind of WOODSCHOO 08/02/06 05:51:24 PM
#18   July 13th uknowimright 07/20/06 10:59:35 AM
#17   When where you guys suppose to receive your Modena360 07/17/06 06:09:05 PM
#16   NOT YET deepsix 07/14/06 10:36:05 AM
#15   Anyone recieve their divi? shell3 07/14/06 09:53:55 AM
#14   Volum down deepsix 07/12/06 12:10:41 PM
#13   going up with no news? nice surprise if vetteman98 07/12/06 11:20:59 AM
#12   6/9/06 RRBK buying Western Kentucky oil company, shell3 07/05/06 09:56:15 AM
#11   PYCT used to be MLON. Check out MFridge 06/30/06 12:18:54 PM
#10   I'm a shareholder of PayChest. See your investors Modena360 06/29/06 12:25:06 PM
#9   anyone hear of Paychest PYCT? RRBK declares dividend vetteman98 06/28/06 07:36:22 PM
#8   joined ya any idea's on when WOODSCHOO 06/28/06 11:55:15 AM
#7   last pr seem very positive. mm are keeping deepsix 06/26/06 06:08:04 PM
#6   Any thoughts to where RRBK is going? It vetteman98 06/26/06 03:01:33 PM
#5   Your might be right we have seen it deepsix 06/21/06 02:42:43 PM
#4   Bid is firming up. A run may be stockrider 06/21/06 02:20:14 PM
#3   I think it is slowly starting to go stockrider 06/20/06 05:08:49 PM
#2   I surprised that its stayed this low for deepsix 06/20/06 11:30:56 AM
#1   Welcome to RRBK message board. Looks like the stockrider 06/18/06 08:45:45 PM
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