MCW Five year agreement with Tempe - MCW MCW Energy Group

Posted On: 11/09/2012 2:21:42 PM

Post# of 1680

Posted By: John Howard

MCW Five year agreement with Tempe Mountain Energy Inc

MCW Energy Group has a five year Supply Agreement with Temple Mountain Energy Inc., of Utah, which provides MCW with 8,333 tons of oil sands material per month until the year 2016. The terms of this Agreement also includes a process-ready, stockpiled inventory of 100,000 tons of oil sands material which will be instrumental in the start-up of MCW’s 250 bpd pilot plant scheduled for operation at Asphalt Ridge in Q1 – 2013.

This Agreement, which includes the shovel-ready oil sands materials, is strategically important as it eliminates any lead time that would be required during the development of MCW’s own oil sands lease, which is also located in Asphalt Ridge, Utah. MCW’s management team feel that this timely arrangement with Temple Mountain will not only save valuable site preparation time, but will also provide an earlier-than-expected revenue flow for the Company.

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