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MCW Energy Group Ltd
4370 Tujunga Avenue, #320, Studio City, California, United States

Memberships : NA
Industry : Oil & Gas
Basic Member
Since Oct, 2016
About Company

MCW Energy Group Limited is a Canadian-registered holding company, publicly trading on the TSX Venture Exchange (Symbol:  MCW) and the OTCQX trading platform (Symbol:  MCWEF). Offices are located in Toronto, Ontario, Canada, Century City, California and its initial plant location in Vernal, Utah.

MCW is focused on value creation of proprietary technologies for the environmentally-safe extraction of oil from oil sands and oil shale deposits, with an initial focus on Utah and its first oil sands lease in Asphalt Ridge.

COMPANY HISTORY

MCW... INNOVATIONS IN ENVIRONMENTALLY-FRIENDLY OIL SANDS EXTRACTION TECHNOLOGY.

In 2011, several key MCW Energy Group management team members including the Company’s Chairman, Aleksandr Blyumkin, were searching for more profitable energy opportunities than the fuels distribution sector, which had been inherited as a result of the purchase of a regional fuels distribution company established in 1938 named McWhirter Distribution Ltd. MCW sold the Fuels Division in 2014 and decided to focus on the very promising oil sands industry. They examined all of the existing oil sands extraction technologies that were being implemented throughout the world and found that there was a void in environmentally-friendly extraction methods, and that the most commonly used technology was the SAGD extraction process (Steam Assisted Gravity Drainage).

This technology was used in most major oil sands extraction projects throughout the world, most notably in Alberta, Canada. It is a very disruptive extraction technique which involves excessive water use, high pressures and temperatures underground and the resultant tailings ponds, filled with toxic chemicals and hydrocarbon residues. The SAGD extraction method requires capital-intensive infrastructures, often costing several billion dollars for major project oil sands processing.

The growing MCW team now included Dr. R. (Jerry) Bailey, a veteran Texas oilman with over 50 years experience in the oil and gas industries, and a former ExxonMobil President of their Arabian Gulf operations. Another team member was added in the person of Dr. Vladimir Podlipskiy, a noted chemical engineer with extensive experience in benign solvent applications and research. The MCW team set out to combine all the features of existing extraction technologies from around the world... but with a new focus... it had to be environmentally-friendly, it didn't require water, it didn't require high temperatures or pressures and did not emit greenhouse gases. Most important... MCW's unique technology had to be commercially viable.

After almost five years of extraction systems research, component design, solvent composition selections and extraction plant design criteria, the MCW Team came up with a unique, environmentally-friendly extraction technology, which is scalable and commercially viable.

MCW designed its initial extraction plant over the past three years and successfully unveiled it in October 1st, 2014. The MCW Team selected Utah as its first choice for its plant location, mainly because the state holds over 55% of America's oil sands deposits, which translates into more than 30 billion barrels of oil, as yet undeveloped and ready for future production in the years to come. The Company's scale-up program is now underway with the design and fabrication of several new, larger capacity extraction units which will be deployed in the years to come throughout the Uinta Basin area in Utah.

PLANS FOR THE FUTURE

MCW PLANS FOR THE FUTURE.

In 2012, MCW set out a three phase plan for the development and implementation of its unique, proprietary extraction technology:

Phase #1:

  • Secure a 1128 acre oil sands lease in Utah in the Uinta Basin area with resources of 20 million bbl oil. (Confirmed by Chapman Petroleum Engineers, 2012).
  • Secure a lease purchase agreement on a nearby 2000 acre oil sands lease owned by Temple Mountain Energy Inc.. with a recoverable resource of 80 million bbl oil. (Confirmed by Chapman Petroleum Engineers, 2014)
  • Identify a third oil sands lease in the Uinta Basin area for purchase.

Phase #2:

  • Complete a 250 bbl/day extraction plant on MCW's Asphalt Ridge lease location.
  • Complete all the required production/environmental permit applications for production commencement in 2015.

Phase #3:

  • Fund, Design, Fabricate and Assemble a 5,000 bbl/day extraction plant either on the MCW lease location or the Temple Mountain Energy lease site (Cost: $ 70mm).
  • Finalize purchase of Temple Mountain Energy lease site.
  • Secure funding for purchase of an additional oil sands lease location in the Uinta Basin.
  • Intensify negotiations on funding, joint venture and licensing opportunities with entities/countries with significant oil sands/shale deposits.

 

Company NameMCW Energy Group Ltd
Business CategoryOil & Gas
Address4370 Tujunga Avenue
#320
Studio City
California
United States
ZIP: 91604
PresidentNA
Year Established2011
Employees50
MembershipsNA
Hours of OperationNA
Company Services
  • Oil Sands Extraction
Phone NumberLocked contentSubscribe to view
Fax NumberLocked content
EmailLocked content
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NamePositionContact DetailsSubscribe to view
***Chief Executive OfficerLocked content
***Aleksandr BlyumkinLocked content
***Chief Financial OfficerLocked content
***Secretary, McMillanLocked content
***Chief Technology OfficerLocked content
***Chief GeologistLocked content
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