|By Marketwired .||
|August 21, 2014 12:01 PM EDT||
TEMPE, AZ -- (Marketwired) -- 08/21/14 -- Quantum Energy, Inc. (PINKSHEETS: QEGY), with offices in Williston, North Dakota, made a presentation to the Yellowstone County Commissioners and Big Sky Economic Development Tuesday, August 19, 2014 in Billings, Montana about their proposed 5 refinery plan to bring a new generation of refineries to North Dakota & Montana including one in Billings.
Andrew J. Kacic, CEO, shared plans to develop a 20,000 barrel-per-day diesel refinery at the center of both the diesel demand and the supply of crude in the Bakken oil field region of Montana and North Dakota. Mr. Kacic touched on the key elements that set the micro-refinery concept apart from the traditional refinery:
- Lower diesel fuel costs for the area agriculture producers and other businesses. The company believes it makes no sense to pay transportation cost twice (there and back) to distant refineries in Texas and beyond -- the goal is for 100% of the diesel to be used within a 100 miles radius of the facility.
- Process crude to remove some of the natural gases prior to transportation which will lower the cost of propane locally.
- Capture and use the C02 (Greenhouse Gases) for Enhanced Oil Recovery (EOR) to produce oil and gas in the region.
When asked for the reason behind the decision to consider Billings Kacic said, "Existing infrastructure and a ready labor force both make Billings an attractive option for the proposed plant."
Governmental support is another reason. Earlier in the week in a report on KLUR 8 News, Commissioner Ostlund stated, "This will bring hundreds of construction jobs, over 100 good paying jobs, permanent jobs in the refinery, and add so much to the tax base in the economy and we're perfectly situated for it and enthusiastic about the project."
Steve Arveschoug, Executive Director of Big Sky EDA agrees saying, "We need to make sure our infrastructure's ready when a company wants to respond, especially in the energy industry, they want to respond to a market opportunity, they need to move right away or they lose that opportunity. So Billings needs to be willing to invest in our infrastructure and invest in our workforce."
Neil Amondson, Chairman of Quantum's Advisory Board, was also in attendance and stated, "The Yellowstone Commission working with Big Sky EDA is a confirmation of what Quantum Energy has to offer clean energy friendly communities throughout America. Their interest in creating high paying family wage jobs, responsible Greenfield developments and energy independence is most commendable. Billings is a beautiful City, strategically located in the energy corridor, Quantum welcomes this opportunity to deliver with the newest refinery technologies available," said Amondson
Bill Bradley, director for Bilfinger Westcon Inc. (www.westconindustries.com), who has formed a strategic alliance with Quantum Energy, told the panel, "We are looking at trying to break ground in mid to late spring next year, and that will be dependent on the permitting process." When asked about jobs, Mr. Bradley replied, "We do try to hire local." Bradley said, "That's where we get the best craftsmen. We have around 2,500 Montanans in our database who have worked for us across different projects."
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.
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