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29.06.2011
MCW Energy Group appoints geologic team for development of its oil sands lease in Asphalt Ridge
June 29th, 2011, Shediac (Canada): MCW Energy Group Ltd., a Canadian holding company involved in oil production/distribution and oil sands recovery technology, today announced that it has appointed Utah Geosystems, LLC to provide geological consulting for the Company’s oil sands lease development in Asphalt Ridge, Utah.
Utah Geosystems, LLC is a Midway, Utah-based consulting firm with a focus on resources in the state of Utah with years of experience in the preparation of geologic reports and property evaluations for oil sands, coal and potash operations. The Company has a vast knowledge of the Asphalt Ridge area, one of Utah’s most prolific oil sands regions. Their corporate team includes experienced geologists, mining engineers and land law examiners.
Utah Geosystems will provide consulting services within two phases:
Phase #1 will consist of compiling geologic information and identifying existing resources and their specific developmental areas. A base map will be prepared illustrating land status as well as identifying the best parcels for potential oil sands resources and extraction plant sites.
Selected lease blocks will be featured with topographical and isopatch maps for saturated zones and structure/overburden maps will be prepared. Utah Geosystems will consult with MCW to define the selected areas for development and the subsequent application process will be initiated in order to obtain small mine permit(s) for an initial pilot plant and for initial oil production operations.
Phase #2 will entail the preparation of maps and mining plans for MCW’s lease, as well as filing a Notice of Intent Application to the Utah Division of Oil, Gas and Mining. Utah Geosystems will also assist MCW in identifying other oil sands lease opportunities throughout the state of Utah, which has the largest known deposits of oil sands in the United States. The oil sands resources consist of 8 major deposits totaling over 32 billion barrels of oil (Shallow Oil Resources – U.S. Department of Energy.)
The MCW Energy Group plans to implement the first of its oil extraction units as an integral developmental component of its Asphalt Ridge oil sands lease. The 1138 acre lease, situated in Uintah County, 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.
About the 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 at: www.mcwenergygroup.com or telephone: 001 (800) 979-1987. Email: info@mcwenergygroup.com .
For financial information, please call Mr. Jörn Gleisner at: +49 (1) 69 95 83 20. Email: j.gleisner@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.
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Utah Geosystems, LLC is a Midway, Utah-based consulting firm with a focus on resources in the state of Utah with years of experience in the preparation of geologic reports and property evaluations for oil sands, coal and potash operations. The Company has a vast knowledge of the Asphalt Ridge area, one of Utah’s most prolific oil sands regions. Their corporate team includes experienced geologists, mining engineers and land law examiners.
Utah Geosystems will provide consulting services within two phases:
Phase #1 will consist of compiling geologic information and identifying existing resources and their specific developmental areas. A base map will be prepared illustrating land status as well as identifying the best parcels for potential oil sands resources and extraction plant sites.
Selected lease blocks will be featured with topographical and isopatch maps for saturated zones and structure/overburden maps will be prepared. Utah Geosystems will consult with MCW to define the selected areas for development and the subsequent application process will be initiated in order to obtain small mine permit(s) for an initial pilot plant and for initial oil production operations.
Phase #2 will entail the preparation of maps and mining plans for MCW’s lease, as well as filing a Notice of Intent Application to the Utah Division of Oil, Gas and Mining. Utah Geosystems will also assist MCW in identifying other oil sands lease opportunities throughout the state of Utah, which has the largest known deposits of oil sands in the United States. The oil sands resources consist of 8 major deposits totaling over 32 billion barrels of oil (Shallow Oil Resources – U.S. Department of Energy.)
The MCW Energy Group plans to implement the first of its oil extraction units as an integral developmental component of its Asphalt Ridge oil sands lease. The 1138 acre lease, situated in Uintah County, 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.
About the 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 at: www.mcwenergygroup.com or telephone: 001 (800) 979-1987. Email: info@mcwenergygroup.com .
For financial information, please call Mr. Jörn Gleisner at: +49 (1) 69 95 83 20. Email: j.gleisner@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.
NEWSLETTER REGISTRIERUNG:
Aktuelle Pressemeldungen dieses Unternehmens direkt in Ihr Postfach:
<a href="http://www.irw-press.com/alert_subscription.php?lang=en&isin=CA55278G1037">http://www.irw-press.com/alert_subscription.php?lang=en&isin=CA55278G1037</a>
Mitteilung übermittelt durch IRW-Press.com. Für den Inhalt ist der Aussender
verantwortlich.
Kostenloser Abdruck mit Quellenangabe erlaubt.