CBS Money Watch Article Lauds MCW Energy Group's Breakthrough Oil Sands Extraction Technology & MCW Announces Participation in LD Micro Conference, Los Angeles, December 2nd - 4th, 2014
TORONTO, ON -- (Marketwired) -- 11/25/14 -- MCW Energy Group Limited ("MCW") (TSX VENTURE: MCW) (OTCQX: MCWEF), a Canadian holding company involved in fuel distribution and the creation of oil sands extraction technology, today announced the online publication of an article featuring MCW's proprietary oil sands extraction technology by CBS Money Watch this week.
The article, titled "A Cleaner Way To Get Petroleum Out of Oil Sands," written by seasoned editor Erik Sherman, detailed several features of MCW's breakthrough oil sands extraction technology, which was successfully presented during its inaugural run on October 1st, 2014 in Vernal, Utah. See link (www.cbsnews.com/news/new-process-washes-the-petroleum-off-oil-sands/ ). The story also provides a description of the unique oil sands extraction technology, which re-uses its solvents within a closed-loop system, requires no water, no high temperatures/pressures and no necessity of tailings ponds. Production costs per barrel range around the $ 35.00 USD per barrel. Within the story are several quotes from MCW's CEO, Dr. R.G. Jerry Bailey, including, "MCW sees its first plant as a proof of concept and is currently raising money to build a $ 70 million extraction plant that will have an estimated 5,000 bbl/day capacity."
MCW also announced today that it will be presenting at the upcoming "7th Annual LD Micro Conference-Main Event" to be held December 2nd to 4th, 2014 at the Luxe Sunset Hotel in Los Angeles, California. MCW's presentation is scheduled for 12:30 PM (Track #4) on December 4th. (www.LDmicro.com ) Please check presentation schedules at the hotel, which are subject to change.
About MCW Energy Group Limited:
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 75 years, having revenue in the fiscal year ending August 31, 2011, of USD $241.5 million, revenue of USD $363.3 million for the fiscal year ending August 31, 2012,and revenue of USD $431.9 million for the fiscal year ending August 31, 2013, 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'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.
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.
For more information, please contact:
MCW Energy Group Limited
Tel: +1 (800) 979-1897 (Ext. 3)
Source: MCW Energy Group
Released November 25, 2014