SALT LAKE CITY, March 27, 2015 /PRNewswire/ -- American Sands Energy Corp. (OTCBB: AMSE), ("AMSE" or the "Company"), an oil sands exploration and development company operating in Utah, is pleased to announce the signing of a project sourcing agreement with 2020cg, LLC ("2020cg"). Under the terms of the agreement, 2020cg, LLC has non-exclusive rights to source potential oil sands projects globally.
"American Sands has developed leading edge technology for exploiting 'oil wet' oil sands. Our relationship with 2020cg will enable us to bring this world class technology to projects outside of Utah," said William C. Gibbs, Company CEO. "With over 80 billion barrels of oil wet oil sands in the US alone, according the US Dept. of Energy, and many more billions of barrels outside the US, oil wet oil sands stand poised to be the next wave of unconventional oil. Having no water usage, no tailings ponds, and minimal environmental impact, AMSE's technology, combined with 2020cg's marketing expertise, is well positioned to lead this development."
"We are excited to represent American Sands and their breakthrough oil sands processing technology," stated Dan Kass of 2020cg. "The ability to profitably extract oil from oil wet oil sands, with no water usage, will enable many projects to come to fruition over time. We believe the opportunities for this process are numerous and quite timely."
American Sands is the developer of the Sunnyside project in Utah. The Company controls over 150 million barrels of oil sands resource and is in the permitting process with the State of Utah which, when issued, will allow for commencement of operations to extract up to 10,000 barrels per day of bitumen.
About American Sands Energy Corp.
American Sands Energy Corporation is a development stage Delaware company with primary operations in Utah. The Company has acquired rights to oil sand ore covering approximately 1,800 private acres of prime oil sand deposits in the Sunnyside area of Utah. The Company has an extraction and recovery system using a licensed proprietary solvent that separates oil and other hydrocarbons from sand, dirt and other substances without creating tailing ponds and other environmental hazards. For more information, visit www.americansandsenergy.com.
About 2020cg, LLC
2020cg is a global business development, strategic advisory, and management consulting firm. We work with public, private and non-profit companies leveraging our experience, relationships and resources to help clients achieve their short and long-term objectives.
Forward Looking Statements
This release contains forward-looking statements regarding AMSE's future plans and expected performance based on assumptions the Company believes to be reasonable. A number of risks and uncertainties could cause actual results to differ materially from these statements, including, without limitation, the success rate of business development efforts, exploration efforts and the timeliness of development activities, the ability to place the project into full production; the ability to secure all necessary mining permits in a timely manner, fluctuations in energy prices, confirmation of estimated resources, and other risk factors described from time to time in the Company's reports filed with the SEC. In addition, the Company operates in an industry sector where securities values are highly volatile and may be influenced by economic and other factors beyond the Company's control. American Sands Energy Corp. undertakes no obligation to publicly update these forward-looking statements, whether as a result of new information, future events or otherwise. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of AMSE's securities, and there shall not be any sale of AMSE's securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction, or the availability of an exemption therefrom.
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SOURCE American Sands Energy Corp.
