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CALGARY, Feb. 10, 2014 /CNW/ -
Clean Oil La Fit ("COLF")
BA Energy Inc. ("BAE"), a fully-owned subsidiary of Value Creation Inc. ("VCI") has filed regulatory applications with the Alberta Energy Regulator ("AER") and the Alberta Environment and Sustainable Resource Development ("ESRD") for an Amendment of the Heartland Upgrader Project ("HUP"), located in Strathcona County within the Alberta Industrial Heartland.
BAE plans to modify its conversion process to produce premium medium crudes which best suit the changing North American refinery markets where light crudes and extra heavy crudes are long in supply and medium crudes are in decline. Refineries processing medium crudes represent, by far, the largest refinery segments in North America and globally.
The changes proposed in the Amendment are all within the previously approved project area, and offer a significant reduction in emissions and superior environmental performance, besides lower cost.
Dr. Columba Yeung, Chairman of Value Creation Group, noted: "This affirms our commitment to Clean Oil La-Fit ("COLF"), our Mission and Brand. BAE is a pivotal component of our Aggregation-Customization-Trading implementation strategy."
Clean Oil La-Fit ("COLF"™):
Transformation of Extra-Heavy-Hydrocarbons (inclusive of bitumen, extra-heavy-oils, residues, etc.) to Clean Oils/Crudes (best) Fitting majority of refineries globally (with their current processing facilities), at Lowest Cost, Sustainably.
VCI holds oil sands leases with vast resources and, through synergistic application of its breakthrough proprietary COLF technologies, aspires to be a valued contributor to enhance real added-values to the oil sands value chain, in co-operation with stake-holders.
CAUTION ON FORWARD-LOOKING STATEMENT - DISCLAIMER
This communication is based on information available when this communication was 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 it 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:
Call 403.539.4500, or visit the website: www.vctek.com.