Last $0.55 USD
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Volume 35.7K
As of 8:10 PM 07/22/14 All times are local (Market data is delayed by at least 15 minutes).

quantum energy inc (QEGY) Snapshot

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03/27/14 - $1.43
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07/25/13 - $0.0007
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quantum energy inc (QEGY) Details

Quantum Energy, Inc. operates as an oil and gas exploration company in the United States. The company holds operating interests in oil and gas properties in the Barnett Shale area of West Texas. The company also explores low-risk development drilling and work-over properties with oil and gas production companies. The company was formerly known as Boomers Cultural Development Inc. and changed its name to Quantum Energy, Inc. in May 2006. Quantum Energy, Inc. was incorporated in 2004 and is based in Oklahoma City, Oklahoma.

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quantum energy inc (QEGY) Key Developments

Quantum Energy, Inc. Signs on Letter of Intent for Second Refinery Site

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.

Quantum Energy, Inc. Appoints Andrew Kacic as CEO and Member of the Board of Directors

Quantum Energy, Inc. appointed Andrew Kacic as the new CEO and as a member of the board of directors of Quantum. Mr. Kacic brings more than 28 years of progressive experience as a chief executive in investment banking, public securities and oil and gas markets. As the president and founder of American Resources of Delaware, Inc. and its subsidiary Southern Gas Company, Mr. Kacic oversaw its growth from $220,000 to $40 million in less than 4 yrs.

Quantum Energy, Inc. Expands Fairview Refinery Site, Begins Conditional Use Permit Process

Quantum Energy, Inc. announced that an agreement in principal has been reached with Northstar Transload LLC to increase the number of acres to be acquired by Quantum from 80 cares to 122 plus acres. The increased acres will accommodate future refinery related plans for the proposed Fairview Refinery in East Fairview, North Dakota. Quantum announced recently its plan to construct the Fairview Refinery that will process 20,000 barrels of Bakken crude oil per day and will operate as a diesel topping plant. Upon closing, permitting and completed construction, the refinery is projected to generate annual revenues in excess of $600,000,000 with EBITDA in excess of $60,000,000 and employ 100 plus full time employees.


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