TEMPE, AZ--(Marketwired - Apr 22, 2014) - Quantum Energy, Inc. (
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. 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.
Of special note, the refinery will be unique to any current or proposed design in North Dakota as it will include technology and equipment to capture CO2 emissions for use in an Enhanced Oil Recovery (EOR) program in the Bakken.
Quantum also announced that given the NBM/Grey Fox Letter it has returned 7,283,600 shares of common stock to treasury as a result of the mutual rescission of the DCC Engagement Agreement for BDC funding.
The new Quantum website can be found at www.quantum-e.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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