The recent surge in gas and oil prices has raised many questions about the future of energy.
Online PR News – 28-November-2012 –The recent surge in gas and oil prices has raised many questions about the future of Energy. As a result cars have become more fuel efficient, investments have increased in alternative fuel sources and off-shore drilling has risen to its highest level in decades. The biggest drawback to increased drilling has been its impact on local communities. Fracking has increased the spread of carcinogens and toxins and exposed drinking water to methane gases. Fortunately MCW Energy Corp. is looking to change this trend. A Canadian-based company established in 1938, MCW Energy Corp. through its subsidiary MCW Oil Sands Recovery LLC has created oil extraction technology that is both environmentally friendly and able to work with normal oil deposits as well as with oil shale materials. The subsidiary currently owns a Utah land lease that it believes will be a great opportunity to implement its new system and tap into the state’s oil reserves.
The extraction technology provides opportunities to safely extract oil components in an efficient manner that greatly reduces the harm placed on surrounding communities. First, oil sands are mined and placed in an extraction column in order to be processed. This ore is then placed on a fluidized bed extractor that sees the extraction of the oil bitumen. At this point the extracted oil and it residue is mixed with a patented solvent composition that breaks down 99% of the asphalt, bitumen and hydrocarbon particles while preventing them from precipitating. The hydrocarbon particles are then extracted from the mixture and placed in a storage tank, the solvent is recycled and the sand is then dried and returned to the ground. The result is sand-free crude oil that is low in sulfur content which will make the process more cost-effective by eliminating the need for refinery processing. Over the summer the company made headlines when it partnered with Stonecap Securities Inc. in order to secure $5 million in financing to complete the creation of this unit.
The potential impact that this technology can have on the oil industry has been well-documented. The Chapman Engineering Report, an independent study done on the extraction technology, concluded that it has the potential to save up to $49 per barrel. In response to these positive reports, MCW has taken many steps forward to strengthen its position. Last year the firm announced the development of two extraction devices that would have the capacity to pump out a combined 750 barrels per day. Earlier this summer, the firm revealed that it would be acquiring Southern California fuel distributor Westco Petroleum for $2 million. The acquisition is believed to increase MCW’s gas distribution in California from 100 million barrels per year to 125 million gallons annually.
The combination of acquisitions, improved technology and exploration into alternative energy sources represent the many steps that MCW has taken to become a stronger well-rounded oil company, and it shows. MCW Fuels currently distributes to 225 service stations. Its sales are expected to grow from $189 million last year to around $300 million this year. As the patent for its extraction technology is currently pending, the firm believes that it will be able to capitalize on its commercial viability for years to come.
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This press release is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Information, opinions and analysis contained herein are based on sources deemed to be reliable and are subject to change without notice.
About MCW Energy Corp.
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 sand 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. For additional information on MCW, please visit: www.mcwenergygroup.com