READ the FULL STORY ONLINE: http://bakkenjournal.uberflip.com/i/389533/28
Response from Quantum about building their refinery in Billings
When asked about the information that had come to light, Yellowstone County Commissioners immediately distanced themselves from the company. Quantum Energy sent a letter to the Billings Gazette insisting to have it published in its entirety or not at all. The Gazette had published a negative article about Quantum Energy and declined to print the letter. The Bakken Oil Business Journal will publish the letter along with this article.
However, the letter answered no substantive questions about their finances or Andrew J. Kacic and states that they would make no further comment on the issue.
The public has heard nothing from Quantum Energy, Andrew J. Kacic or the Yellowstone County Commissioners about an oil refinery or any impending land purchases since August 19, 2014 meeting. MarketWatch listed Quantum Energy Inc. ATC stock at 50 cents a share with no trades after August 14, 2014.
The Billings Gazette published a follow up to the original story on Oct. 2nd.
By Tom Lutey, Source: Billings Gazette.
More than a month after floating plans for a new oil refinery in Billings, Arizona-based Quantum Energy hasn’t been in touch with Yellowstone County commissioners.
Commissioner John Ostlund said he hasn’t heard from Quantum since Aug. 19, when CEO Andrew Kacic said Quantum wowed commissioners with talk of a $500 million Billings refinery to convert Bakken crude into diesel fuel. At the time, Kacic said Quantum would be revealing a potential refinery site a few days after his meeting with commissioners.
The announcement never came, and within days of Kacic’s meeting with county commissioners, court documents surfaced indicating Kacic had in the past run substantial personal expenses through his other businesses.
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Calls to Quantum Chairman Stanley F. Wilson were not returned Thursday.
The Big Sky Economic Development Authority, which normally vets large commercial project proposed in Yellowstone County, also confirmed no contact with Quantum since August.
Quantum had indicated plans to build five “micro-refineries” in Montana and North Dakota, each with a $500 million price tag and possibly 150 employees.
On its website, Quantum indicates it has a two-year option for a 144-acre refinery site near Fairview. The company also reports it has a three-year option on land near Baker.