Stanley, North Dakota Site Under Two Year Option Agreement
TEMPE, AZ–(Marketwired – Nov 3, 2014) – Quantum Energy, Inc.(PINKSHEETS: QEGY) a member of Bakken Energy Service www.bakkenenergyservice.com , announced today 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 President & Director Neil Amondson met with the Mayor of Stanley, ND to share Quantum’s latest recent site plans for a 21st Century Energy Center in Stanley. Quantum representatives have been invited to inform the Stanley City Council at a future Council meeting of the project details destined for the area. Recognizing the additional growth and infrastructure required to meet the demand for utilities and services currently provided by Stanley and Mountrail County www.co.mountrail.nd.us , Amondson said, “We look forward to working with the Stanley City Council and Mountrail County representatives in bringing diesel fuel and jobs to the area.” 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. “Bringing much needed diesel fuel to Stanley www.stanleynd.com and throughout the Bakken to meet the needs of agriculture and industry is key to the goals of Quantum and its Strategic Alliance partner, Bilfinger Westcon www.bilfinger.com ” Amondson said.
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,” said Quantum Chairman, Stan Wilson. “Unfortunately, on that point, the landowner could never overcome the logistics and timing required for our permitting process,” Wilson said.
Quantum has signed two year Option Agreements in Baker, MT, Fairview, MT and now Stanley, ND for Energy Center sites and is making progress in firming up relationships with other strategic alliance partners, refinery design teams, engineering firms, major diesel off-take sources and potential funding sources as well as crude supply candidates as a result of recent meetings in Bismarck, ND, Williston, ND and Oklahoma City.
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 and has recently entered into a Strategic Alliance with Bilfinger Westcon to develop multiple Energy Centers that include a 20,000 barrel per day diesel refinery throughout the Bakken www.quantum-e.com.
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