DGAP-News: MCW Energy Group Limited: MCW ENERGY GROUP SIGNS KEY OIL SANDS MATE RIAL SUPPLY AGREEMENT WITH TEMPLE MOUNTAIN ENERGY, UTAH.
(firmenpresse) - DGAP-News: MCW Energy Group Limited / Key word(s): Contract
MCW Energy Group Limited: MCW ENERGY GROUP SIGNS KEY OIL SANDS MATE
RIAL SUPPLY AGREEMENT WITH TEMPLE MOUNTAIN ENERGY, UTAH.
28.06.2012 / 07:00
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June 28th, 2012.
MCW ENERGY GROUP SIGNS KEY OIL SANDS MATE RIAL SUPPLY AGREEMENT WITH
TEMPLE MOUNTAIN ENERGY, UTAH.
June 28th, 2012: Shediac, New Brunswick, Canada/Frankfurt, Germany: MCW
Energy Group Limited, a Canadian holding company with two divisions focused
on value creation: (1) MCW Fuels Inc., a well-established distributor of
gasoline and diesel fuels to a growing list of service stations in southern
California, and, (2) MCW Oil Sands Recovery, LLC, which will implement MCW
Energy Group's proprietary oil sands extraction technology on its lease in
Asphalt Ridge, Utah, is pleased to announce that the Company has signed a
key oil sands material Supply Agreement with Temple Mountain Energy Inc. of
Utah.
Under this five year Supply Agreement, Temple Mountain will supply MCW with
8,333 tons of oil sands material per month until the year 2016. The terms
of the Agreement also include a process-ready, stockpiled inventory of
100,000 tons of oil sands materials which will be instrumental in the
start-up of MCW's 250 bpd pilot plant. scheduled for operation during
2012.
'The signing of the Supply Agreement with Temple Mountain is a benchmark in
our production program, as it provides us with a jump start in oil sands
material processing while MCW prepares its own oil sands lease for
production,' stated Dr. R.G. Bailey, CEO of MCW Energy Group. MCW's
management team feel that this timely arrangement will not only save
valuable site preparation time, but will also provide an
earlier-than-expected revenue flow for the Company. The costs of $ 19.50
per ton (crushed and delivered from Temple Mountain's nearby lease) will
fit well within MCW's overall projected cost of approximately $ 38.50 USD
per barrel.
Under the terms of the Agreement, MCW Energy Group also has the option of
two extraction unit locations on the Temple Mountain lease site to further
minimize material processing costs. MCW Energy Group may also exercise an
option to purchase the Temple Mountain lease, which includes a valid mining
permit classified as a 'large mine permit,' from the state of Utah, one of
only two such classified permits in the U.S. Temple Mountain has been
processing oil sands materials on its lease site since 2006, supplying
asphalt and bitumen products, cleaned sand for hydraulic fracturing and
upgraded sweet crude for sale to local refineries. The Temple Mountain
lease, with expanded production levels to meet MCW's extraction unit
requirements, has a life expectancy of 25-30 years.
About MCW Energy Group:
MCW Energy Group is a Canadian holding company incorporated under the laws
of New Brunswick, Canada and consists of two principal portfolio companies:
(1) MCW Fuels is engaged in the distribution of liquid fuels throughout
the west coast of United States to a growing roster of branded and
unbranded service stations, and (2) MCW Oil Sands Recovery, LLC, which
holds an oil sands lease in Asphalt Ridge, Utah and is currently
implementing MCW's proprietary oil extraction technology with a pilot plant
project which is expected to be operational during 2012. With this
initial production, the Company is aiming towards the establishment of a
vertically-integrated oil producer/distributor, and along with it, the
ultimate goal of developing higher profit margins. For more information on
the MCW Energy Group, please visit the corporate website:
www.mcwenergygroup.com .
Press/Media/Investor Contact: North America,
Paul Davey
MCW Energy Group
334 Main St., Suite 101
Shediac, NB, E4P 2E5 Canada
Tel.: 001 (800) 979-1897
Fax: 001 (866) 571-9615
Mail: paul(at)mcwenergygroup.com
Note:
The information does not constitute an offer of or an invitation by or on
behalf of MCW Energy Group or any of its subsidiaries to subscribe for or
purchase securities of MCW Energy Group or any of its subsidiaries, but is
provided as a matter of record only.
In particular, the information contained does not constitute an offer of
securities for sale or solicitation of an offer to buy securities in the
United States of America. Securities may not be offered or sold in the
United States of America absent registration or an exemption from
registration under the U.S. Securities Act of 1933, as amended.
End of Corporate News
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Datum: 28.06.2012 - 01:00 Uhr
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