MCW Energy Group Limited
MCW ENERGY GROUP’S CEO, DR. R.G. BAILEY, PREDICTS ‘NEW OIL BOOM WITH CLEANER, MORE EFFICIENT EXTRACTION TECHNOLOGIES.’
MCW Energy Group Limited / Key word(s): Forecast/Letter of Intent 19.12.2011 / 15:27 --------------------------------------------------------------------- December 19th, 2011: Shediac, New Brunswick, Canada/Frankfurt, Germany: MCW Energy Group's recently appointed Chief Executive Officer, Dr. R.G. Bailey was interviewed by a German television network during the recently held German Equity Forum in Frankfurt (Deutsches Eigenkapitalforum, November 21st to November 23rd, 2011.). During his interview, Dr. Bailey predicted an impending new 'oil boom,' which he expects will originate from new oil shale and oil sands sources around the world including the United States, Russia, the Middle East, Canada and Venezuela (2 trillion barrels worldwide which includes 800 billion barrels in oil shale in the Green River Formation (U.S.) and over 19 billion barrels from oil sands in Utah alone). These new sources of oil will be generated through a diverse variety of advanced technologies including those currently being developed by MCW in answer to the demands for more environmentally-friendly, more cost-efficient extraction methods. Commenting on MCW's proprietary extraction technology, he stated, 'We have a 'coming forward' state-of-the-art technology which will greatly assist (the United States) with a domestic source of oil for another 100 years. It's a dry technology which requires no water, it's environmentally-friendly, there are no waste streams and the production costs are extremely good from $30.00 to $40.00 per barrel. This will provide us with an excellent profit spread at current world oil price levels which are expected to continue into the future.' Dr Bailey continued with references to MCW Energy Group's corporate structure. 'Our MCW Fuels division generates over $240,000,000 per year in annual revenues, which will leverage our oil sands production and in turn will provide better profit margins with our own production in Utah. Our first plant will be in operation by the first half of 2012 and we'll rapidly scale it up to 1000 bbl/day after proof of technology concept and a rapid ROI. As a small economic model, our initial 250 bbl/day pilot plant will generate over $2.3 million gross revenue in just three months' operation.' The complete video interview may be viewed through this link: http://mcwenergygroup.com/ Dr. Bailey has over 45 years experience in the petroleum industry, and his past positions include President, Exxon-Arabian Gulf, Abu Dhabi, Assistant General Manager, Administration & Commercial, Abu Dhabi Onshore Oil Co., and Operations Manager, Qatar General Petroleum Corp. (Dukhan Operations). He holds BS, MS and PhD Degrees in Chemical Engineering from the University of Houston and several other notable institutions. About the MCW Energy Group: MCW Energy Group is a Canadian holding company with two principal portfolio companies: the California-based MCW Fuels, established in 1938, a leading distributor of branded and unbranded gasoline and diesel products throughout the United States, and MCW Oil Sands Recovery, LLC, an oil sands extraction technology company based in Utah, which is focused on providing a new source of domestic oil from America's virtually untapped oil sands resources. With ongoing production of oil from its oil sands leases, would become a profitable supplier of oil to several regional refineries. This new revenue stream would provide strategic leverage for MCW through direct control of oil pricing and supply within its core distribution network. With the combination of a successful petroleum product distribution network and the supply of its own oil, MCW would become a vertically integrated energy company. The company's shares trade on the open market on the Frankfurt Stock Exchange. For more information, please visit the corporate website: www.mcwenergygroup.com North American Investor Relations Contact: 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: info@mcwenergygroup.com Germany/Europe Investor Relations Contact: Jörn Gleisner fr financial relations GmbH Tel.: +49 (0)69 95 90 83 20 Fax: +49 (0)69 95 90 83 99 Mail: j.gleisner@financial-relations.de 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 --------------------------------------------------------------------- 19.12.2011 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 150296 19.12.2011
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