American Sands Energy is poised to become one
of the first oil sand producers in the United States. Headquartered in Salt
Lake City, ASEC is a development-stage, pre-production oil company. Its primary
operations are in Utah and its focus on unconventional oil deposits in the
state. Using cutting-edge technology, the company intends to efficiently
extract oil and other naturally-occurring hydrocarbons contained in oil sands,
shale and similar geologic structures common in the Mountain West region of
North America.
AMSE has leased a large oil sands deposit in
Utah containing approximately 150 million barrels (net P50) of recoverable bitumen.
The corporation has the rights to mine oil sand ore and extract bitumen from
the private property which covers approximately 1,800 private acres of prime
oil sand deposits in the Sunnyside area near Price, Utah. The planned plant and
mine site is approximately seven miles from an existing power plant, rail head,
and major state highway. The site is accessible by county road and will be
served by existing power lines. Initial production from the Sunnyside location
is planned at 5,000 barrels per day and expected to begin by the summer of
2016. Already, AMSE is raising capital to build out a facility in Central Utah
to process the oil sands from the leases it has acquired. Additionally, the
company plans to gain rights to another 500 million barrels of reserves in the
area.
AMSE has licensed technology from Universal
Oil Recovery Corp, which has a proprietary solvent and process that allows for
a clean, low energy process. The process operates without water and at a cost
well below competitive approaches. It creates no tailing ponds, emissions, or
waste products that would require containment or disposal permits, thus
eliminating critical environmental concerns.
The company’s extraction and recovery process
mixes a proprietary solvent with the oil sands and separates the oil (in the
form of bitumen) from sand. The sand is then re-heated allowing the solvent to
be recaptured and recycled for reuse. The process results in separated and
clean dry sand that can be placed back into the environment, used in mining
operations, or potentially sold as high grade industrial or consumer sand. It
also results in bitumen, which can be used in its natural form in road paving
operations or processed into other products.
AMSE’s approach is based on industry-changing
innovations and creates a new paradigm for recovering oil sand deposits in the
Western United States. The technology has been tested on a pilot plant for the
past two years and has been proven to work efficiently. The process has also
proven successful in laboratory tests on oil sands from the Green River
Formation in Utah. Most importantly, the validity of this technology has been
demonstrated through the operation of a prototype extraction unit. In short, AMSE’s
approach results in a significantly reduced environmental footprint coupled
with a high degree of operational efficiency so there is a high level of
anticipation that the company’s operating permit, submitted to the Utah
Department of Oil, Gas and Mining in early 2014, will be approved later this
year.
For more information, visit the company’s
website at www.americansands.com
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