Press Releases

MCW Energy Group’s Ceo, Dr. R.G. Bailey, Predicts New Oil Boom With Cleaner, More Efficient Extraction Technologies

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 21^st to November 23^rd, 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.