VANCOUVER, BC -- (Marketwire) -- 12/11/12 -- MCW Enterprises Ltd. (TSX VENTURE: MCW)(MCW.V) ("MCW"), a Canadian holding company involved in fuel distribution and the creation of oil sands extraction technology, today announced that it has received notice that the third and last container of its pilot plant components has been received and is being shipped via truck to its Asphalt Ridge, Utah lease site.
MCW had previously received two containers of its initial plant components in late August 2012, and this shipment is now being cleared through Houston, Texas. This container holds the remaining major components which include the rectification column, spare column parts, and spares for other system components. To minimize site development timeframes, MCW has already accumulated shovel-ready feedstock on its 1128 acre lease site near the state's main oil and gas development center of Vernal for the subsequent testing phase, which will proceed upon assembly completion.
In a series of press releases announcing the progress of its initial extraction plant in Asphalt Ridge, Utah, MCW issued a news release on November 28th, 2012 which provided details on the final stages of site preparation ("MCW Enterprises Enters Final Phases of Site Preparation...") and on November 19th, 2012 details of the permit process were provided ("MCW Enterprises Obtains All Permits..."). These releases, and others, may be viewed on the Company's website: www.mcwenergygroup.com.
"We have assembled an experienced crew for the assembly of our initial extraction plant," stated Dr. Vladimir Podlipskiy, Chief Technology Officer of MCW, who is heading up the assembly and installation of the extraction plant. "Because of the unit's compact proprietary design, few moving parts and small footprint, we expect that the assembly stages of the plant will be implemented smoothly," he added. The last stage in site preparation will be the pouring of concrete slabs for the plant's base, which will take place early this month.
About MCW's Technology:
MCW has developed an environmentally-friendly, continuous flow, closed-loop extraction 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 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 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:
MCW Enterprises Ltd.
Tel: +1 (800) 979-1897 (Ext. 3)
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