TEMPE, AZ--(Marketwired - Jul 17, 2015) - Bakken refinery developer Quantum Energy, Inc. (OTC PINK: QEGY), and Native Son Holdings, LLC are pleased to announce their intent to form a Joint Venture for the construction and operation of a 40,000 barrel per day refinery in Berthold, North Dakota. The joint venture will be known as "Quantum Native Processing Partners, LLC," and will be owned by Quantum and Native Son Refining LLC, a subsidiary of Native Son Holdings LLC.
"Native Son Refining includes a team of engineers who have prepared a construction permit application for a 40,000 bpd facility that doubles our planned capacity. Teaming with NSR on a Berthold site accelerates our plans and is the equivalent of building two of our previously planned facilities," said Stan Wilson, Chairman of Quantum. "This proposed Joint Venture is the result of the efforts of new Quantum Advisory Board member, Rob Monday, the Founder of the Native Son Companies. We expect to have our permit application filed yet this month," said Andrew Kacic, Quantum CEO.
"Our engineers have successful prior experience with the North Dakota permitting process for refineries and we are excited to lend that capability to Quantum. This alliance with Quantum fast tracks our own previous plans for a 40,000 bpd refinery and is a welcome strategic event to our efforts," said Rob Monday, Managing Member of NSR.
Quantum and NSR have also been approached about a possible JV with a Canadian TSX company to build a 40,000 bpd facility in either Manitoba or Saskatchewan and ongoing discussions are taking place.
Quantum has signed two year Option Agreements with Landowners in Baker, MT, Fairview, MT, Stanley, ND and Berthold, ND for Energy Center refinery 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.
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 (www.westconindustries.com) to develop multiple Energy Centers throughout the Bakken. www.quantum-e.com
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