VANCOUVER, BC--(Marketwire - Nov 19, 2012) - MCW Enterprises Ltd. (TSX VENTURE: MCW) ("MCW"), a Canadian holding company involved in fuel distribution and the creation of oil sands recovery technology, today announced that it has received the necessary permits required in order to commence the December 2012 assembly of its initial oil sands extraction plant project in Asphalt Ridge, Utah. MCW's scheduled action plan is to complete the 250 bbl/day extraction plant's assembly during the month of December and move into the testing phase in January, 2013.
In July 2011, MCW appointed JBR Environmental Consultants Inc. to provide a Developmental Plan, which dealt with pre-permitting planning and environmental due diligence. This plan included an outline for the protection of water and air resources, process data review, volumes utilized during processing, production rates and by-product production to develop a sound element of work for the various permitting phases. This initial plan also provided recommendations as to what environmental and county permits would be required to commence production.
During the summer and into September of 2012, MCW subsequently received all the necessary approvals and permits to proceed with the construction of its extraction plant project. This included a permit for Air, ground, water use (Utah Division of Air Quality) - Small Source Exemption for Air Emissions & Uintah County Conditional Use Permit (January 25, 2012, State of Utah). MCW's due diligence in conjunction with JBR Environmental Consultants presented an Environmental Site Assessment, which was subsequently approved. This included a "Construction Permit for Processed Oil Sands Storage Cell for MCW Energy Pilot Plant," (January 26, 2012) and a "Ground Water Discharge Permit-by-Rule For Northwest Asphalt Ridge Project," (January 26, 2012), both issued by the Utah Department of Environmental Quality, Division of Water Quality, State of Utah. An independent engineering firm was appointed in September, 2012 to prepare engineering drawings for the extraction plant site and performed a soil drilling program in order to determine soil conditions prior to site construction. These drawings were completed.
"We've been planning for our production start-up in Q1 2013 for over a year and a half now, and everyone on the MCW team is extremely excited about getting our extraction plant up and running," stated Vladimir Podlipskiy, MCW's Chief Technology Officer. He added, "Once we've proven our proprietary extraction process here in Utah, we will be well on our way to becoming America's first environmentally-friendly oil sands extraction project." In accordance with the state's regulations on good mining practices, MCW has also adopted its own action plan which is termed the "Health, Safety and Environmental Management System." This system includes factors such as safety and emergency response procedures and emergency preparedness protocols.
About MCW's Technology:
MCW has developed an environmentally-friendly, continuous flow, closed-loop technology on which a patent application is pending in both the United States and Canada. While this technology has not been previously proven in the United States or Canada, MCW anticipates that it will extract all types of hydrocarbons from oil sands materials (oil-wet or water-wet). This extraction technology is anticipated not to use any water during the extraction process. It is also not anticipated to produce greenhouse gases, nor does it require high temperatures or pressures, and is anticipated to extract a significant amount of hydrocarbon content. It is also anticipated to recycle a significant amount of benign solvents within the closed-loop system.
About MCW Enterprises Ltd:
MCW, through its wholly-owned subsidiary, 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 60 years, having revenue in the fiscal year ending August 31, 2011, of US$241.5 million and, (ii) as a developer of proprietary technology for the extraction of oil from sand at its first field in the Uinta Basin of Utah, USA. 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 additional information on MCW, please visit: 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 the Company. 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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