DGAP-News: MCW ENERGY GROUP'S CEO, DR. R.G. BAILEY, PREDICTS 'NEW OIL BOOM WITH CLEANER, MORE EFFICIENT EXTRACTION TECHNOLOGIES.'
(firmenpresse) - DGAP-News: MCW Energy Group Limited / Key word(s): Forecast/Letter of
Intent
MCW ENERGY GROUP'S CEO, DR. R.G. BAILEY, PREDICTS 'NEW OIL BOOM WITH
CLEANER, MORE EFFICIENT EXTRACTION TECHNOLOGIES.'
19.12.2011 / 15:27
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December 19th, 2011: Shediac, New Brunswick, Canada/Frankfurt, Germany:
MCW Energy Group's recently appointed Chief Executive Officer, Dr. R.G.
Bailey was interviewed by a German television network during the recently
held German Equity Forum in Frankfurt (Deutsches Eigenkapitalforum,
November 21st to November 23rd, 2011.).
During his interview, Dr. Bailey predicted an impending new 'oil boom,'
which he expects will originate from new oil shale and oil sands sources
around the world including the United States, Russia, the Middle East,
Canada and Venezuela (2 trillion barrels worldwide which includes 800
billion barrels in oil shale in the Green River Formation (U.S.) and over
19 billion barrels from oil sands in Utah alone). These new sources of oil
will be generated through a diverse variety of advanced technologies
including those currently being developed by MCW in answer to the demands
for more environmentally-friendly, more cost-efficient extraction methods.
Commenting on MCW's proprietary extraction technology, he stated, 'We have
a 'coming forward' state-of-the-art technology which will greatly assist
(the United States) with a domestic source of oil for another 100 years.
It's a dry technology which requires no water, it's
environmentally-friendly, there are no waste streams and the production
costs are extremely good from $30.00 to $40.00 per barrel. This will
provide us with an excellent profit spread at current world oil price
levels which are expected to continue into the future.'
Dr Bailey continued with references to MCW Energy Group's corporate
structure. 'Our MCW Fuels division generates over $240,000,000 per year in
annual revenues, which will leverage our oil sands production and in turn
will provide better profit margins with our own production in Utah. Our
first plant will be in operation by the first half of 2012 and we'll
rapidly scale it up to 1000 bbl/day after proof of technology concept and a
rapid ROI. As a small economic model, our initial 250 bbl/day pilot plant
will generate over $2.3 million gross revenue in just three months'
operation.' The complete video interview may be viewed through this link:
http://mcwenergygroup.com/
Dr. Bailey has over 45 years experience in the petroleum industry, and his
past positions include President, Exxon-Arabian Gulf, Abu Dhabi, Assistant
General Manager, Administration&Commercial, Abu Dhabi Onshore Oil Co.,
and Operations Manager, Qatar
General Petroleum Corp. (Dukhan Operations). He holds BS, MS and PhD
Degrees in Chemical Engineering from the University of Houston and several
other notable institutions.
About the MCW Energy Group:
MCW Energy Group is a Canadian holding company with two principal portfolio
companies: the California-based MCW Fuels, 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 focused on providing
a new source of domestic oil from America's virtually untapped oil sands
resources. With ongoing production of oil from its oil sands leases, would
become a profitable supplier of oil to several regional refineries. This
new revenue stream would provide strategic leverage for MCW through direct
control of oil pricing and supply within its core distribution network.
With the combination of a successful petroleum product distribution network
and the supply of its own oil, MCW would become a vertically integrated
energy company. The company's shares trade on the open market on the
Frankfurt Stock Exchange. For more information, please visit the corporate
website: www.mcwenergygroup.com
North American Investor Relations Contact:
Paul Davey,
MCW Energy Group
334 Main St., Suite 101
Shediac, NB, E4P 2E5 Canada
Tel.: 001 (800) 979-1897
Fax: 001 (866) 571-9615
Mail: info(at)mcwenergygroup.com
Germany/Europe Investor Relations Contact:
Jörn Gleisner
fr financial relations GmbH
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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19.12.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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predicts-new-oil-boom-with-cleaner
more-efficient-extraction-technologies
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Datum: 19.12.2011 - 15:27 Uhr
Sprache: Deutsch
News-ID 98303
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