SOURCE: Quantum Energy, Inc.

July 29, 2015 15:44 ET

Quantum Energy Files North Dakota Air Quality Permit Application

TEMPE, AZ--(Marketwired - Jul 29, 2015) - Bakken energy processing developer Quantum Energy, Inc. (OTC PINK: QEGY), in conjunction with its joint venture partner, Native Son Refining, LLC, announced the filing of a minor source air quality construction permit application today with the North Dakota Health Department, Division of Air Quality. The permit application is to construct a 40,000 barrel per day crude processing facility on land Quantum has under option in the Berthold area. The application in the name of Quantum and/or its assigns, Quantum Native Processing Partners, LLC, a joint venture special purpose entity created by Quantum and Native Son Refining, LLC, was signed and submitted by Native Son Founder, Robert L. Monday. Native Son is combining its engineering and technical expertise with Quantum's existing site opportunity to trigger this application process.

"Native Son had its engineering completed and an application in hand looking for a site while Quantum has sites ready for the permit process. A joint venture was a logical and exciting way to expedite both of our objectives to bring increased local refining capacity to North Dakota," said Andrew Kacic, Quantum CEO. "Native Son has been ready with a completed permit package of our own with technology for a 40,000 bpd facility that doubles Quantum's proposed 20,000 bpd plan. The Quantum Berthold site allowed us to combine efforts for the larger facility and submit our minor source application today," said Rob Monday, Native Son Founder. "Our team includes engineers with previous successful experience in obtaining an air quality permit for a refinery facility in North Dakota. We expect it to be a 4-6 month process and are very confident of the outcome," Monday added.

The 40,000 bpd Quantum Native Processing Partners, LLC facility substantially increases previous Quantum projections. The Berthold refinery annual revenues using June 2015 prices are projected at approximately $1.2 billion while resulting annual EBITDA is projected at approximately $345,000,000. The capital commitment to build the facility is estimated at $645,000,000. The estimated output of the primary products from the crude processing facility in barrels per day based on a 360 day operating year include 18,400 bpd of gasoline; 13,200 bpd of diesel #2; 5,600 bpd of diesel #1 and 2,800 bpd of AGO/bottoms.

About Quantum Energy, Inc.

QUANTUM ENERGY, INC. is a development stage, publicly traded, diversified holding company with offices in Williston, North Dakota. Quantum places an emphasis in refinery development, land holdings, oil and gas exploration, drilling, well completion and fuel distribution and has recently entered into a Strategic Alliance with Bilfinger Westcon (www.westconindustries.com) to develop multiple Energy Centers throughout the Bakken. www.quantum-e.com

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