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QUANTUM ENERGY INC (QEGY)
CURRENT_PRICE: $2.34 GET IT N0W!
About the company Quantum Energy is a publicly traded growth orientated oil and gas
exploration company. The objective is to seek out and define opportunities that represent
a low risk 0pp0rtunity to develop positive cash flow. As well, the company aims to define
larger projects that can be developed with Joint Venture partners or be entered into by a
Joint Venture.
Red Hot News
QUANTUM ENERGY INC. PURCHASES NEW FACILITY CORSICANA TEXAS.
July 20, 2006 Quantum Energy, Inc. (QEGY) announced that its joint venture partner, JMT
Resources, Ltd. has entered into a contract to purchase a ten acre facility yard in
Corsicana, Texas. The acquisition was formerly the facilities yard for Mobile Oil, and is
adjacent to the Corsicana Field, which it operates. The site contains an assortment of oil
field equipment that the joint venture partnership will utilize in its field operations.
The acquisition also gives the JV partnership surface ownership of its water injection
disposal well, which is in the permitting process with the Texas Railroad Commission.
Ownership of this parcel will reduce operating costs; it will also give the JV partnership
the option to add more injection disposal wells on this site, while housing its own
redevelopment operations.
Due to the substantially increased Barnett Shale drilling activities in Johnson and
surrounding counties, there is an enormous need for disposal options of high chloride
(salt) water, which is used in the stimulation of Barnett Shale wells. Operators in the
area are required to dispose of this treated water in sanctioned disposal zones. In this
area, the zone most prevalently used is the Woodbine, which is the depth of the well the
partnership is currently permitting. Demand for disposal facilities is substantial.
Operators have resorted to trucking their treated water several hours from location for
disposal. Current disposal rates are $2 per barrel and trucks will carry 150 to 200 barrel
capacities. It is estimated that the JV partnership will be able to dispose of
approximately 5,000 barrels of treated water per day. This operation will allow the JV
partnership to attain substantial cash flow from this ancillary oil field operation
reducing its reliance on outside capital!
. It is expected that the water disposal well will be operational during the fourth
quarter of 2006. This facility would also be available for disposal of waste water
recovered from the Nacatoch wells in the JV Polymer project as well. Ultimately, the
disposal fluid from the polymer will be quite significant once the project passes from the
pilot phase into full development. Correspondingly, the availability of the water disposal
well that is owned by the JV partnership will lead to reduced costs and higher
efficiencies.
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