Quantum Energy Signs LOI for 2nd Refinery Site
19 Juin 2014 - 1:30PM
Marketwired
Quantum Energy Signs LOI for 2nd Refinery Site
Baker Montana Newspaper Article
TEMPE, AZ--(Marketwired - Jun 19, 2014) - Quantum Energy, Inc.
(PINKSHEETS: QEGY), announced today that Quantum has entered into a
fully executed Letter of Intent for the acquisition of 400 acres
near the city of Baker in Fallon County, Montana for the
development of a 21st Century Energy Center to include a 20,000
barrel per day diesel refinery. The LOI calls for a Contribution
Agreement to be executed no later than July 3, 2014 by which title
to the 400 acres is to be exchanged for shares of Quantum common
stock. Quantum also has an existing purchase agreement for a
refinery site with Northstar Transloading LLC in East Fairview,
ND.
The prospect of the Baker refinery was reported on by the
Baker Montana Dickinson Press newspaper under the headline "Oil
refinery project proposed for Baker: More facilities possible for
Minot, East Fairview" in its June 17, 2014 edition which is linked
below.
Excerpts from the article include: "BAKER, Mont. -- An oil and
gas exploration company is in the early stages of planning a diesel
refinery in Baker that would create about 100 jobs.
The facility, which would be run by Quantum Energy, Inc., would
refine 20,000 barrels of oil to produce 7,000 barrels of diesel a
day. It would supply fuel to other energy companies and
agricultural producers within a 100-mile radius, cutting back on
diesel transported from out of state to meet oilfield-related
demand.
Quantum Energy representative George Bailey said that the
company is also considering opening new refineries in Minot and
East Fairview.
Mona Madler, director of the Southwest Montana Area
Revitalization Team, said the refinery would essentially mimic the
Dakota Prairie Refinery being constructed in Dickinson in its aims
to decrease diesel costs in the Bakken region.
Representatives from Quantum Energy Inc., visited Baker earlier
this month, meeting with city and county officials, and looking at
potential refinery sites.
The company also gauged public opinions at an open meeting,
which attracted about 30 people, Madler said.
Quantum Energy CEO Andrew Kacic, who visited Baker, said he
plans to build five such oil refineries, called "21st century
energy centers" by the company...
... At a meeting on June 5 with Baker residents, Madler said
residents raised questions about where new refinery workers would
live, as well as its environmental impacts.
But, she said that Quantum's proposal was well received overall,
as Fallon County is one of Montana's largest oil and gas producers.
Residents are accustomed to development, Madler said.
"This is kind of what we do," she said."
http://www.thedickinsonpress.com/content/oil-refinery-project-proposed-baker-more-facilities-possible-minot-east-fairview
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 www.quantum-e.com.
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
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