Default [Q] Tecno P5 Stuck in Boot Loop And Recovery Not Accessible

I used Recovery-Tools to flash TECNO-P5_130916__recovery_140106-193223.img onto my phone. The process completed and I was prompted to boot into recovery. The reboot did not complete.

I can get into the boot menu (Volume Up + Power), but when I select Recovery mode or Normal mode the phone gets into a boot loop. Fastboot mode woks and I can connect from Windows 7.

The problem in Fastboot is that I cannot flash a ROM since the bootloader is locked (I get the error "Security deny - Err:0x2017").

Is there a tool that can either unlock the bootloader or reset the phone to factory settings so it can boot normally?

I already tried fastboot oem unlock and it just hangs at "..." No "fastboot oem ...." commands work
fastboot devices shows "mt6572v1_phone fastboot"