SOURCE: Quantum Energy, Inc.

April 01, 2014 12:25 ET

Quantum Energy Expands Fairview Refinery Site, Begins Conditional Use Permit Process

TEMPE, AZ--(Marketwired - Apr 1, 2014) - Quantum Energy, Inc. (PINKSHEETS: QEGY) announced today that an agreement in principal has been reached with Northstar Transload LLC to increase the number of acres to be acquired by Quantum from 80 cares to 122 plus acres. The increased acres will accommodate future refinery related plans for the proposed Fairview Refinery in East Fairview, North Dakota. 

"Some of our recently announced plans prompted Northstar to initiate discussions for us to acquire an additional 42 plus acres contiguous to the 80 acres we already have under contract," said Andrew Kacic, Quantum CEO. "The increased acreage will allow Quantum to bring on additional projected revenue streams to further enhance Q earnings. These discussions also include more favorable terms of a long term lease purchase. We have been told to expect proposed documents soon." 

Quantum announced recently its plan to construct the Fairview Refinery that will process 20,000 barrels of Bakken crude oil per day and will operate as a diesel topping plant. "We are initiating the Conditional Use Permit process and have retained the services of Territorial Landworks Inc. to assist and advise us in that process," Kacic added.

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. 

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.

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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.

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