MCW ENERGY GROUP COMMENCES FABRICATION PLANS FOR ITS FIRST OIL SANDS EXTRACTION UNIT TO BE DEPLOYED IN ASPHALT RIDGE, UTAH.
(firmenpresse) - June 20th, 2011 - Shediac, Canada: MCW Energy Group (MCW), a Canadian holding company involved in oil production/distribution and oil sands recovery technology, today announced that it has commenced its plans to fabricate a closed-loop oil extraction unit which will be utilized in the development of its oil sands lease in Asphalt Ridge, Utah.
MCW has calculated the extraction unit’s technical specifications, identified its key suppliers and fabricators, and has issued purchase orders for key components of the extraction system with several reputable companies with years of experience in the fabrication industry.
The state-of-the-art extraction system will have an estimated minimum capacity of 250 barrels per day, and will utilize the Company’s proprietary closed-loop extraction technology. It uses benign solvents within a closed-loop system where the solvents are recycled within the continuous flow/feed system.
The environmentally-friendly technology requires no water during the process and no high temperatures or high pressure are needed. It emits no greenhouse gases. It has been proven to be economically viable and is capable of extracting up to 98% of hydrocarbons.
MCW’s technology and the extraction unit are scalable and extremely mobile. Unit mobility is a key feature of the technology on lease geology where site preparation techniques will vary from site to site based on volumes of near-surface and below-surface hydrocarbon-bearing oil sands materials.
The Company estimates set-up times for onsite extraction processing to be less than two days per location, which is unique when compared to the large, stationary oil sands plants in Alberta that cannot be moved to various mining sites. MCW expects that all key, proprietary components of its first extraction plant will be manufactured and shipped for assembly by September, 2011.
The MCW Energy Group plans to implement the first of its oil extraction units as an integral developmental component of its oil sands lease in the prolific Asphalt Ridge region of Utah. The lease has a proven/probable resource of more than 50 million barrels of oil confirmed by a recent independent report and previous studies by the U.S. Department of Energy. The Company will provide further details on the progress of the fabrication plan as it nears completion.
About MCW Energy Group
MCW Energy Group is a Canadian holding company with two principal portfolio companies: the California-based McWhirter Distribution Company, established in 1938, a leading distributor of branded and unbranded gasoline and diesel products throughout the United States, and MCW Oil Sands Recovery, LLC, an oil sands extraction technology company based in Utah, which is focusing on providing a new source of domestic oil from America’s virtually untapped oil sands resources. With an ongoing production of oil from its oil sands leases, the Company intends on becoming a profitable supplier of oil to several regional refineries. This new revenue stream will provide strategic leverage for MCW through direct control of oil pricing and supply within its core distribution network.
For more information, please visit the corporate website: www.mcwenergygroup.com or telephone 001 (800) 979-1897, email: info(at)mcwenergygroup.com . For financial information, please call Mr. Jörn Gleisner at: +49 (0) 69 95 90 83 20 or email: j.gleisner(at)financial-relations.de .
LEGAL DISCLAIMER This publication serves information purposes and constitutes neither an offer to sell nor a solicitation to buy any securities of MCW Energy Group Ltd. This press release contains forward-looking statements based on beliefs of MCW Energy Group management. When used in this press release, words such as "anticipate", "believe", "estimate", "expect", "intend", "plan" and "project" are intended to identify forward-looking statements. Such statements reflect the views of MCW Energy Group as of the date made with respect to future events and are subject to risks and uncertainties. Many factors could cause actual results to be materially different from those projected here, including, among others, changes in general economic and business conditions, changes in currency exchange rates and interest rates, introduction of competing products, lack of acceptance of new products or services and changes in business strategy. MCW Energy Group disclaims any intention or obligation to update these forward-looking statements.
Leseranfragen:
MCW ENERGY GROUP
344 Mira Loma Ave
Glendale, CA 91204
Tel: (800) 979-1897
Fax (818) 484-5209
info(at)mcwenergygroup.com
Datum: 20.06.2011 - 11:51 Uhr
Sprache: Deutsch
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