|By Marketwired .||
|December 1, 2016 08:30 AM EST|
TEMPE, AZ -- (Marketwired) -- 12/01/16 -- Quantum Energy, Inc. (OTC PINK: QEGY), a diversified energy holding company, is pleased to announce the incorporation of a wholly owned Canadian subsidiary, Dominion Energy Processing Group, Inc., www.dominionenergyca.com, to conduct the development, construction and operation of a 40,000 bpd full slate refinery in Saskatchewan, Canada. This step is the result of the recent progress Quantum has made working with the local and provincial governments in Saskatchewan who have been very supportive of the project.
The Dominion subsidiary will be headed by Keith Stemler in his role as a member of the board of directors and as Chief Executive Officer (CEO). Mr. Stemler brings over 35 years of construction and senior project management experience in Western Canada's natural resources sector. His project management activities have included supporting multi-billion dollar capital projects on behalf of major industry Bitumen producers such as ExxonMobil, Husky Energy and Suncor. Through this experience, Keith has gained valuable insight into cost saving ventures, design modeling, project execution, scheduling and cost budgeting. Mr. Stemler has received many safety awards and recognition for his efforts that contributed to large financial gains by eliminating duplicate engineering and reducing independent risk assessments. "Mr. Stemler's expert knowledge and experience in mining projects, Bitumen processing facilities and hydro treatment and recovery systems will be a significant asset to the goals and objectives of Dominion Energy Processing Group, Inc.," said Quantum CEO, Stan Wilson.
"I am very pleased to be joining Dominion Energy providing leadership and guidance for the first of many refinery developments in Canada. Having served over many years in an advisory capacity to Quantum, I welcome this opportunity to provide project management for the Stoughton, Saskatchewan project. We continue to work through the last remaining gates moving the project into the first phase of permitting and engineering. The Stoughton project has received overwhelming support from the Local and Provincial Governments providing assistance and direction as we work towards execution. Dominion Energy will begin to focus on our staffing requirements to expand our project team as well as seek additional O&G gas revenue projects in Alberta and Saskatchewan," Mr. Stemler said.
Quantum continues its Bakken refinery development projects with ongoing permitting efforts in North Dakota and an increased emphasis with real progress on a 40,000 bpd proposed project in the Stoughton area of Saskatchewan, Canada.
About Quantum Energy, Inc.
QUANTUM ENERGY, INC. is a development stage, publicly traded, diversified holding company. Quantum places an emphasis in refinery development, land holdings, oil and gas exploration, drilling, well completion and fuel distribution and has entered into a Strategic Alliance with Bilfinger Westcon (www.westconindustries.com) to develop multiple Energy Centers that include a 40,000 barrel per day full scale refinery within the Bakken. 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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