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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 31, 2007
QUANTUM ENERGY INC.
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(Exact name of Registrant as specified in its charter)
NEVADA
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(State or other jurisdiction of incorporation or organization)
333-118138 98-0428608
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(Commission File Number) (I.R.S. Employer Identification No.)
29 - 3800 Pinnacle Way
Gallaghers Canyon, Kelowna, British Columbia,
Canada, V1W 3Z8
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(Address of principal executive offices)
250 - 809 -9185
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Issuer's telephone number
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act
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(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
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(17 CFR 240.14a-12)
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[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
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Exchange Act (17 CFR 240.14d-2(b))
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[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
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Exchange Act (17 CFR 240.13e-4(c))
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Section 1 - Registrant's Business and Operations
Item 1.02 Termination of a Material Definitive Agreement
On May 19, 2006 KOKO Petroleum Inc. ("KOKO") and Quantum entered into an
agreement in regard to the acquisition by Quantum of various interests in
Corsicana and Barnett Shale oil and gas properties. On June 12, 2006 the
transaction was closed. Quantum assumed liabilities of KOKO in regard to these
interest to JMT Resources in Fort Worth, Texas, the operator ("JMT").
By the end of the year Quantum and other companies that invested into the
project came to a irreconcilable disagreement with JMT.
On January 31, 2007 the Company entered into a settlement agreement selling its
interest in Corsicana oil and gas properties back to JMT. Under the terms of
this agreement Quantum is giving up any and all interests it has in the
properties in return for a payment in the amount of $308,200.00 USD. Quantum is
released and indemnified by JMT from any and all liabilities in regard to these
properties, environmental or otherwise. Quantum still retains its interests in
Barnet Shale properties.
Section 9 - Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits
(c.) Exhibits
Exhibit 10.8 Settlement Agreement and Mutual Release to which Quantum is a party
dated 31st day of January, 2007, by and between JMT Resources, Ltd., ("JMT") a
Texas corporation, and Quantum Energy, Inc., Nitro Petroleum Inc., 658111 B.C.
Ltd, and RPMJ Corporate Communications Ltd.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Current Report on Form 8-K to be signed on its
behalf by the undersigned hereunto duly authorized.
Quantum Energy Inc.
By /s/ Ted Kozub
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Ted Kozub, CEO
Date: February 26, 2007