From the Wires
MCW Energy Group's Proprietary Oil Sands Extraction Technology Featured in February Issue of International Resource Journal
By: Marketwire .
Feb. 1, 2013 02:48 PM
TORONTO -- (Marketwire) -- 02/01/13 -- MCW Energy Group Limited, ("MCW") (TSX VENTURE: MCW) (MCW.V), a Canadian holding company involved in fuel distribution and the creation of oil sands extraction technology, today announced that a corporate profile story on MCW is currently appearing in the February 2013 issue of the International Resource Journal (IRJ), a major electronic resource publication distributed online to top executives worldwide.
The International Resource Journal story focuses on MCW's breakthrough, oil sands extraction technology in an industry often criticized for its extraction processes by concerned environmentalists throughout Canada and the United States. The MCW story elaborates on the Company's proprietary, patent-pending oil sands extraction technology, which requires no water (a major benefit in desert locations), high temperatures or pressures. Included in this feature, are some candid comments from MCW's CEO, Dr. R.G. Bailey who expresses confidence in the future of MCW's unique technology in Utah where there's been no commercially-viable oil sands extraction technology to date. He also outlined the tremendous upside potential for worldwide licensing. Utah has over 30 billion barrels of oil (U.S. DOE) within 8 major deposits....representing a massive untouched resource.
MCW's corporate profile story is available online at the International Resource Journal's website:
MCW is now entering the assembly stage of its initial extraction plant on its lease location in Asphalt Ridge, Utah. It is expected that upon assembly completion, the Company will subsequently conduct a series of tests on the efficiencies and capacities of the unit prior to production.
About MCW's Technology:
This extraction technology does not use any water during the extraction process. It is 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. More information on the technology may be seen on MCW's website: www.mcwenergygroup.com .
About MCW Energy Group:
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.
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.
For more information, please contact:
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