quantum energy inc (QEGY) Key Developments
Quantum Energy, Inc. Secures North Dakota Site for Energy Center Stanley, North Dakota Site Under Two Year Option Agreement
Nov 3 14
Quantum Energy, Inc. announced that it has signed a two year Option Agreement on a two hundred sixty (260) acre site in the Stanley, North Dakota area in Mountrail County, North Dakota for the construction and operation of an Energy Center that will include a 20,000 barrel per day topping plant diesel refinery. Quantum's design plan includes the latest clean technology to capture the CO2 released from their facilities for use in Enhanced Oil Recovery (EOR) throughout the Bakken. Additionally, each facility will also include a natural gas liquids (NGL) stripping capacity of at least 100,000 barrels per day which will build barrel value, provide the potential for local/regional propane production and provide for significantly reduced crude volatility to facilitate enhanced rail tank car safety. The 20,000 barrel per day diesel refinery will provide 100 plus full time jobs in the Stanley area as well. With the addition of the Stanley site, on-going efforts to finalize negotiations on a site in Billings, MT ceased as of October 30, 2014 due to the landowner's inability to specify in a timely manner which 100 acres of a larger tract would be the Option Property. "The mechanics of the timing of when the legal description of the 100 acre Option Property was to be broken out of the larger tract became a drafting deal point that was never satisfied by the Landowner.
Quantum Energy, Inc. Selects Neil Amondson as New President of Quantum and Member of the Board of Directors
Oct 31 14
Quantum Energy, Inc. announced that Neil Amondson has been selected as the new President of Quantum and named a member of the board of directors. Amondson also serves as co-Founder and VP of NorthStar Transload.
Quantum Energy, Inc. and Bilfinger Westcon Inc. Launch Strategic Alliance to Develop Multiple Refineries
Sep 15 14
Quantum Energy, Inc. has entered into a Strategic Alliance with Bilfinger Westcon Inc. for the development of a series of diesel refinery projects throughout the Bakken Formation.
Quantum Energy Announces Five Member Advisory Board
Aug 14 14
Quantum Energy, Inc. announced the creation of an Advisory Board that will provide added depth and business acumen to the company. Neil Amondson, Advisory Board Chairman, Mr. Amondson is the Principal and founder of Hunter Light. Keith Stemler, Member, Mr. Stemler brings with him over 35 years of industrial construction experience ranging from major civil, above and below ground infrastructure and modular plant construction. Keith's addition to the Quantum Advisor Board will support the Board's efforts on all fronts from EPC contract and operational safety to engineering deliverables and constructability reviews. John Suprock, Member, Mr. Suprock, an early investor in Quantum, began his career in the retail industry, eventually becoming the general manager of over 250 retail stores. Brian Wendler, Member, Mr. Wendler has over 29 years of professional experience in business valuation, mergers and acquisitions, analysis and structuring of traditional and non-traditional private placement investments. Peter Nilsen, Member, as a senior corporate development executive with over 20 years of global strategic growth experience. Following his 8 years of military service as a Naval Aviator in the United States Marine Corps, he joined Eckert & Ziegler AG.
Quantum Energy, Inc. Signs on Letter of Intent for Second Refinery Site
Jun 19 14
Quantum Energy, Inc. announced 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 21(st) 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 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. The company is also considering opening new refineries in Minot and East Fairview.