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CALGARY, April 15, 2015 /CNW/ - Value Creation Inc. ("VCI") is pleased to announce the filing of an Amendment application with the Alberta Energy Regulator on April 10, 2015 (Application No 1827947), for its approved Tristar Pilot, about 10 km south of Fort McMurray. The proposed project has up to 12,000 bpd bitumen processing capacity.
The Project, named "DOEx" (Demonstration of Excellence) is designed to affirm the performance of critical aspects of VCI's unique synergistic integration of its proprietary Condensables-Steam In Situ Recovery process ("CSIR TM") and its proprietary bitumen transformation technologies to produce Premium Medium Crudes ("COLF" brand), optimally fitting majority refineries globally. In particular, the amendment enables the "upgrading" of own SAGD bitumen emulsion directly (unique in industry), as well as processing Bitumen (or bitumen-water emulsion or bitumen-froth) from other producers, in its unique Bitumen Transformation processes, to produce Premium Medium Crudes ("COLF").
When the integrated design of "CSIRTM - COLFTM" is fully implemented, it would produce Premium Medium Crudes with significantly broadened markets, at lowest all-in-costs for equivalent products, while debottlenecking transportation constraints and achieving enhanced environmental performance. With its distinctly lower operating cost for equivalent (highly marketable) products, it has a "last-man-standing" economic robustness against oil price and light-heavy differential volatilities.
Dr. Columba Yeung, Founder/Chairman/CEO of VCI remarks:
"DOEx is a prudent launch of our Mission to provide Value Chain (Enhancement) Solutions ("VCS") to Oil Sands and Refining Industries, as outlined in our previous announcements in March. We aspire to produce maximum added values (to cost) for oil sands resources, in Alberta and Canada."
CAUTION ON FORWARD-LOOKING STATEMENT
This communication is based on information available when the materials were prepared and is provided as a matter of convenience only. VCI makes no warranty or representation, express, implied, statutory or otherwise, as to the accuracy or completeness of the information contained in this communication. VCI disclaims liability for any reliance upon any information or representation contained in this communication, for any omissions from this communication, and for any written or oral communications made by VCI or its representatives in connection with this communication. This communication does not necessarily contain all the information that a recipient may require or desire. Any reliance or use of such information is done at the recipient's sole risk. This communication is not and under no circumstances is to be construed as an advertisement or offer to sell any securities of VCI. Certain statements contained in this communication may be prospective in nature and constitute forward-looking statements. Such statements involve known and unknown risks, uncertainties, and other factors that could cause VCI's actual results, performance or achievement to differ materially from those expressed in, or implied by, the forward looking statements. Accordingly, no assurance can be and none is given in this communication that any of the forward looking statements will transpire or occur, or if any of them do so, what benefits VCI will derive therefrom. VCI disclaims any intention or obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise.
SOURCE Value Creation Inc.
For further information: please contact Samantha Yeung at 403-539-4510 or email Samantha.Yeung@vctek.com and visit the Value Creation Inc. website at http://www.vctek.com/