DGAP-News: MCW ENERGY GROUP'S INNOVATIVE, ENVIRONMENTALLY-FRIENDLY TECHNOLOGY WILL SET NEW MARK FOR OIL SANDS EXTRACTION TECHNIQUES
(firmenpresse) - DGAP-News: MCW Energy Group Limited / Key word(s): Market
Report/Private Equity
MCW ENERGY GROUP'S INNOVATIVE, ENVIRONMENTALLY-FRIENDLY TECHNOLOGY
WILL SET NEW MARK FOR OIL SANDS EXTRACTION TECHNIQUES
22.07.2011 / 13:44
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MCW ENERGY GROUP'S INNOVATIVE, ENVIRONMENTALLY-
FRIENDLY TECHNOLOGY WILL SET NEW MARK FOR OIL SANDS EXTRACTION TECHNIQUES
July 22th, 2011: Shediac, New Brunswick, Canada/Frankfurt, Germany: MCW
Energy Group, a Canadian holding company involved in oil
production/distribution and oil sands recovery technology, has made notable
progress in developing its proprietary, environmentally-friendly oil
extraction technology. Its initial extraction unit is scheduled for infield
testing this fall in the Asphalt Ridge Region, Utah.
'MCW's oil sands recovery technology will project the company into an
industry leadership role with respect to environmental concerns, extraction
efficiencies and operational safety. With our commercially-viable
technology, we will soon demonstrate our unique knowledge in oil sands
extraction - a process that will safely mark a new era in providing an
important additional domestic energy source for America,' stated Aleksandr
Blyumkin, COO of MCW Energy Group.
On the basis of America's rising energy needs and prices as well as the
current controversial methods of oil extraction with SAGD technology
(Steam-Assisted Gravity Drainage), the Chief Operating Officer and graduate
in economics with wide-ranging experience in the oil industry sees a big
commercial future for this new technology of MCW Energy Group.
The disadvantage of the old, still applied large-footprint SAGD technology
is the need for vast amounts of water which are used under high pressures
and temperatures (up to 5 barrels of water per one barrel of oil). It
creates high levels of greenhouse gases, produces toxic tailings ponds and
affects existing water resource infrastructures (rivers, streams and lakes)
across an area 50 times greater than unconventional strip mining
activities. Dissent among the general public and environmentalists alike is
rising as oil sands production levels and greenhouse gas emissions
increase. Industry eyes are now gradually turning to America's virtually
untapped oil sands resources containing billions of barrels of oil
throughout six western states including Utah. A more ecologically-friendly
technology is urgently needed and MCW believes to possess the solution.
MCW Energy Group's environmentally-friendly oil extraction process uses
benign solvents which are recycled within a closed-loop system in a
continuous flow process. The technology requires no water during the
process, no high temperatures or high pressures. Furthermore, the
production process emits no greenhouse gases. It has been proven to be
economically-viable and is capable of extracting up to 98% of all
hydrocarbons. MCW's small-footprint technology is scalable and extremely
mobile, minimizing the need for extensive strip mining, because the Company
simply moves the extraction units to the oil sands materials site. This
simple process eliminates the need for the massive movement and disruption
produced by extensive strip mining techniques.
MCW has recently announced that it has appointed a Utah-based geological
team and an environmental consulting firm to assist in the developmental
plans for their oil sands lease in Asphalt Ridge, Utah. It has also
appointed its unit fabricators and suppliers, and purchase orders have been
signed. The unit's major components will be manufactured and shipped to
Utah commencing in September 2011 in preparation for production unit
assembly.
MCW Energy Group is listed on the Open Market of the Frankfurt Stock
Exchange, and has recently successfully completed an offering of
convertible debt with a group of well-established investors from North
America and Hong Kong. The Company raised gross proceeds of 3.0 million USD
in the private placement, which will be utilized in MCW's oil sand
development program in Asphalt Ridge, Utah.
About the MCW Energy Group:
The 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 western United States, and MCW Oil
Sands Recovery, LLC, an oil sands extraction technology company with an oil
sands lease and proprietary oil sands extraction technology based in Utah.
The Company is focused on providing a new source of domestic fuel from
America's virtually untapped oil sands resources. With an ongoing
production source of oil from its oil sands leases, MCW intends on becoming
a profitable supplier of oil to several regional refineries. This new
domestic source will provide strategic leverage for MCW through direct
control of pricing and supply of oil within its core distribution network.
For more information, please visit the corporate website:
www.mcwenergygroup.com
Press Contact:
MCW Energy Group
334 Main St., Suite 101
Shediac, NB, E4P2E5 Canada
Attn. David Sutton
Tel.: 001 (800) 979-1897
Fax: 001 (866) 571-9615
Mail: info(at)mcwenergygroup.com
Germany:
Fr financial relations gmbh
Attn. Jörn Gleisner
Tel.: +49 (0)69 95 90 83 20
Fax: +49 (0)69 95 90 83 99
Mail: j.gleisner(at)financial-relations.de
The information does not constitute an offer of or an invitation by or on
behalf of MCW Energy Group or any of its subsidiaries to subscribe for or
purchase securities of MCW Energy Group or any of its subsidiaries, but is
provided as a matter of record only.
In particular, the information contained does not constitute an offer of
securities for sale or solicitation of an offer to buy securities in the
United States of America. Securities may not be offered or sold in the
United States of America absent registration or an exemption from
registration under the U.S. Securities Act of 1933, as amended.
End of Corporate News
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132912 22.07.2011
Datum: 22.07.2011 - 13:44 Uhr
Sprache: Deutsch
News-ID 34666
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