INDEPENDENT REPORT CONFIRMS MAJOR OIL RESOURCE OF 50+ MILLION BARRELS ON MCW ENERGY GROUP’S OIL SANDS LEASE IN ASPHALT RIDGE, UTAH.

May 31th, 2011; Shediac, New Brunswick, Canada/Frankfurt, Germany: MCW Energy Group, a Canadian holding company publicly trading on the Frankfurt Stock Exchange (Symbol: MW4.F) today announced the completion of a report by an independent consulting company on its oil sands lease in Asphalt Ridge, Utah.

MCW Energy Group’s subsidiary company, MCW Oil Sands Recovery, LLC’s oil sands lease covers 1138 acres and is situated in the heart of the prolific Asphalt Ridge area, one of Utah’s major oil sands regions. The independent report estimates recoverable bitumen volumes of 13 MMSTB in the Low case (20.2 MMSTB bitumen in place), 20 MMSTB in the Best case (30.4 MMSTB bitumen in place) and 30 MMSTB in the High case (55.6 MMSTB bitumen in place). These estimates reflect a bitumen density of between 125 MSTB to 325 MSTB per mineable acre. The Asphalt Ridge sandstone structure features extensive surface deposits, and is approximately 150 feet to 350 feet thick, the lower portion being saturated with bitumen at NW Asphalt Ridge. A core sample from this region has a published analysis reporting 13.4% bitumen content with an API gravity of 14.3. The Company will provide further details on this independent report upon the completion of its 51-101 document, which will be issued shortly.

The United States Department of Energy estimates that the Asphalt Ridge area, one of Utah’s 8 major oil sands deposits, contains over 1.5 billion barrels of oil. Additional USDOE surveys report a total of over 32.billion barrels of oil throughout the state of Utah, making it one of the largest potential sources of domestic oil in the United States.

MCW Oil Sands Recovery LLC plans to develop its Asphalt Ridge oil sands lease utilizing a unique, solvent-based, environmentally-friendly closed-loop extraction technology. These benign solvents remain within the system during the extraction process, which is capable of extracting up to 98% of hydrocarbons. The technology is scalable, highly mobile, commercially viable, and is especially profitable during the current high oil price ranges. With a producing oil sands operation, the MCW Energy Group intends on becoming a profitable supplier of oil to one or more of the major regional refineries.

This new revenue stream is a natural reinforcement for the Company’s distribution arm, the California-based McWhirter Distribution Company, established in 1938, and a leading distributor of branded and unbranded gasoline and diesel throughout western United States. Not only will this new source of oil production provide strategic leverage for the Company through direct control of pricing and supply within its core distribution network, it represents a critical, new source of domestic oil for America.

For more information, please visit the corporate website: www.mcwenergygroup.com

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.

MCW Energy Group

MCW Energy Group
334 Main St., Suite 101
Shediac, NB, E4P2E5 Canada
Attn. David Sutton
Tel.: 001 (800) 979-1897
Fax: 001 (866) 571-9615
Mail: info@mcwenergygroup.com

Germany:
Fr financial relations gmbh
Attn. Jörn Gleisner
Tel.: +49 (0)69 95 90 83 20
Fax: +49 (0)69 95 90 83 99
Mail: j.gleisner@financial-relations.de

This release was published on openPR.