TORONTO--(Marketwired - Aug 27, 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 progress of its ongoing fabrication and assembly programs of its first extraction unit which will be tested for commercial production viability on MCW's lease in Asphalt Ridge, Utah.
One of the most important components of MCW's closed-loop technology is the Pre-Mixing System which has been designed by MCW's engineering team and represents a segment of MCW's patent pending extraction process. It features an agitator which mixes the oil sands ore with benign solvents in order to create homogenized slurry prior to its entry into the extraction column. The moving parts of the agitator feature blades treated with a chemical-resistant coating, the shaft and a motor. This key component has been fabricated by Hayward & Gordon Inc., of Halton Hills, Ontario, Canada, a well-established manufacturer of pumps, mixers and strainers. This component has already passed Haywood & Gordon's rigid quality control testing and is scheduled for shipment to MCW's production site in Utah during the month of September, 2013.
MCW had originally planned to be well into the fabrication completion stages of its initial extraction plant in Utah by the end of July, but in order to ensure optimum mixing of the oil sands ore, which may include a wide range of consistency variations during processing, MCW added a specially-designed agitator system which is anticipated to speed up production and improve system efficiencies. MCW is preparing a series of informative press releases during the months of August and September, documenting its progress in the completion of its first extraction unit on its lease site in Asphalt Ridge, Utah. A sufficient amount of feedstock has already been prepared and is awaiting processing, once the unit has been assembled.
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.
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