Quantum Energy Announces Refinery Site Purchase Agreement
20 Mars 2014 - 12:30PM
Marketwired
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.
For Company Contact: Invest Com USA 1-855-424-7447
Quantum Energy (PK) (USOTC:QEGY)
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