SOURCE: Quantum Energy Inc.

March 20, 2014 07:30 ET

Quantum Energy Announces Refinery Site Purchase Agreement

TEMPE, AZ--(Marketwired - Mar 20, 2014) - Quantum Energy, Inc. (PINKSHEETS: QEGY), announced today that Quantum has secured a refinery site by signing a Purchase and Sale Agreement with Northstar Transloading LLC to purchase eighty (80) acres adjacent to the Northstar transload in East Fairview, North Dakota for the construction of the Fairview Refinery, a 20,000 barrel per day diesel refinery.

"The Northstar transload will be a state of the art facility and an ideal rail and oil transit strategic neighbor for our Fairview Refinery," said Quantum President, Stan Wilson. "The Dakota Prairie Refinery in Dickinson has served as the model for our proposed Fairview Refinery and helped demonstrate to our funding sources the feasibility for our project as well," Wilson added.

The Fairview Refinery will process 20,000 barrels of Bakken crude oil per day and will operate as a topping plant. It will convert around one third of the crude oil into diesel fuel. The refinery will produce approximately 7,000 barrels of diesel per day which will reduce the amount of diesel imported into North Dakota by marketing the diesel output in the Bakken region.

Upon closing, permitting and completed construction, the refinery is projected to generate annual revenues in excess of $600,000,000 with EBITDA in excess of $60,000,000 and employ 100 plus full time employees.

"We anticipate further announcements soon on funding for the expected $250,000,000 investment," Wilson said.

The new Quantum website can be found at www.quantum-e.com. A complete description of the Northstar transload can be found at www.nstenergy.com.

About Quantum Energy, Inc.

QUANTUM ENERGY, INC. is a development stage publicly traded diversified holding company with offices in the Bakken field in Williston, North Dakota. Quantum places an emphasis in land holdings, refinery and rail transload development, oil and gas exploration, drilling, well completion and fuel distribution.

Safe Harbor Forward-Looking Statements

To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, further milestones, plans, intentions, goals, future financial conditions, future collaboration agreements, the success of the Company's development, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made.

Contact Information

  • For Company Contact:

    Invest Com USA
    1-855-424-7447