Engineering Team Arriving on Site to Commence Assembly of MCW Energy Group's Initial Oil Sands Extraction Plant in Asphalt Ridge, Utah
TORONTO, ON--(Marketwired - Sep 9, 2013) - MCW Energy Group (TSX VENTURE: MCW) (MCW.V) ("MCW"), a Canadian holding company involved in fuel distribution and the creation of oil sands extraction technology, today announced the imminent arrival of its engineering team to commence the assembly of its first extraction unit on MCW's lease location in Asphalt Ridge, Utah.
The engineering team will assemble the components of the compactly-designed unit which includes the extraction column, rectification column and all of the heat exchangers which have recently been moved to MCW's lease site for technical verification and preparation for installation. Concrete pads for the extraction unit have been designed and approved by the engineering team and have now been completed. Uintah Machine & Manufacturing Co. of Utah is in the process of completing the fabrication of the unit's feeding bins, pug mixer and pre-mixing tank. A conveyor system that delivers the oil sands ore has been supplied by another local company, and all structural steel components have been designed, approved and ordered from Steel Breeze Inc., another Utah-based company. MCW has a "buy local" policy in place whenever possible and has commissioned several other Utah-based companies including JBR Environmental Consultants, Inc. C & G Electric Co., MCW's electrical system contractor, is now in the process of installing the required underground electric system which will service all of the unit's electrical requirements including site floodlighting. The physical layout design for all equipment, towers, lines and tanks has also been completed. The assembly stage of the extraction unit to be performed by MCW's experienced engineering team is expected to take several weeks prior to a rigorous testing program once all components of the unit are in place. As per its ongoing supply agreement for feedstock from nearby Temple Mountain Energy, MCW has already accumulated a significant supply of oil sands ore onsite which is now awaiting processing after completion of the unit's assembly.
This announcement is the second of a series of reports which document MCW's progress leading up to the completion of MCW's first extraction unit on its lease site in Asphalt Ridge, Utah.
About MCW Energy Group:
MCW Energy Group Limited, is focused on value creation as (i) a distributor of gasoline and diesel fuels to service stations in Southern California for over 72 years through MCW Fuels Inc., and (ii) as a developer of proprietary technology for the extraction of oil from oil sands at its first field in the Uinta Basin of Utah, USA. MCW is in the process of assembling its initial extraction plant in Asphalt Ridge, where it intends to implement its environmentally-friendly and cost efficient technology. MCW's management team is comprised of individuals who have extensive knowledge in both conventional and unconventional oil and gas projects and production, as well as refinery and fuel distribution experience. For more information, please visit the corporate website at: www.mcwenergygroup.com.
The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Forward-looking statements in this news release, include, but are not limited to the commercial viability of the technology and the extraction plant, economic performance and future plans and objectives of MCW. Any number of important factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although MCW believes that the expectations reflected in forward looking statements are reasonable, they can give no assurances that the expectations of any forward looking statements will prove to be correct. Except as required by law, MCW disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
