Investorintel: MCW's Proprietary Oil Sands Extraction Technology Requires No Water
Toronto, Ontario--(Newsfile Corp. - January 14, 2014) - Tracy Weslosky, Publisher and Editor-in-Chief of InvestorIntel opened the discussion with a brief overview of what she and Dr. Gerald Bailey, CEO of MCW Energy Group, Ltd. (TSXV: MCW) had covered about his company in the first video segment titled: An Oil Company that can think Green - and they can think Energy.
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She noted that MCW Energy Group with 41m shares outstanding had, on the oil and gasoline distribution side of the company, revenue exceeded $300m last year. She then moved the discussion to the other company within MCW Energy Group, the MCW Oil Sands Recovery division, which will involve using environmentally-friendly extraction technology.
Dr. Bailey proceeded to discuss the oil sands extraction and recovery facility currently under construction near Vernal, UT, and noted that is on the way to be in production in the first quarter of 2014.
Tracy wondered how soon after production had commenced, that MCW Oil Sands Recovery operation in Asphalt Ridge, Utah would be securing revenues from this particular extraction facility.
Dr. Bailey's unequivocal response was, "Immediately….we have all the necessary state and environmental approvals in place. Since we already have oil sands feedstock ready to process…so once we start production, it's oil coming out, and that oil will be trucked to Salt Lake City for processing. So, on day one - we are in business and making money."
Tracy asked Dr. Bailey to give an overview for new potential investors that could introduce them to the technology, and follow that up by discussing what his company intends to achieve. He said: "Basically, Utah's oil sands are recoverable off the surface of the earth, it's not mined, it lays in the open, as opposed to the super scale mining operations that you may be familiar with in Canada. We take this sand, we treat it with our proprietary solvent, it extracts the oil, the clean sand goes out on the ground, we recycle these benign solvents, and the oil comes out the other side - a closed loop system, environmentally friendly."
Tracy remarked that one of her writers at InvestorIntel had written a piece pointing out how revolutionary MCW's extraction process was, giving it a competitive advantage because it does not require water. She asked Dr. Bailey to clarify, and see if they had understood this concept correctly.
Dr. Bailey replied strongly in the affirmative, noting: "I can clarify that and he is exactly correct…there is no water involved. We do not have to use high pressures, steam or heat, or water in any manner to extract the oil from the sand. We simply treat it as it lies, with our process, and it's a closed-loop system…and everthing remains with the system."
Tracy opined that it certainly sounded revolutionary to her, and that it might actually change the industry standard once the process is up and running (Q1 2014). Dr. Bailey agreed, noting that "It's as simple as sliced bread." The key in his view, is that MCW Oil Sands Recovery is scheduled to be the operators of America's first environmentally-friendly oil sands extraction system in Utah.
He says: "It will change the way people look at these new processes. People will see that we can extract oil in a very environmentally friendly method…People are calling me from all over the world that have similar sands and saying (to me) "My goodness if we can do this, we are onto something big!" - to read the rest of this interview summary, go to InvestorIntel.com.
Disclaimer: MCW Energy Group, Ltd. is an advertorial member of InvestorIntel.