Last Trade $.28 Shares OS 28.8m 200,000,000 barrels proven reserves current market cap approx $8.64m typically oil sands deals are valued at $1/barrel in the ground of proven reserves
Potential market cap before extraction $200m or $6.94/share, 23 TIMES WHERE IT CURRENTLY TRADES!!!!!!!
American Sands Energy Corp. Announces Successful Operation of Oil Sand Pilot Facility Salt Lake City, UT – July 25, 2012 — American Sands Energy Corp. (OTCBB: AMSE, “AMSE” or the “Company”), an oil sands exploration and development company operating in the state of Utah, announced today the successful operation of its oil sand recovery pilot facility. The pilot facility, which is based in Phoenix, Arizona, has been operational since early July. Approximately 80 tons of the Company’s oil sands were shipped to the facility, which has been able to run at its designed rate of up to two tons per hour, generating consistent flows of oil and clean, dry sand over multiple, consecutive days of operation. “Successful running of our pilot facility is a key milestone for American Sands Energy,” stated CEO William Gibbs. “We are now ready to move to the next steps of our business plan including submitting a mine permit application and beginning development of a 5,000 barrel per day facility at our Utah property.” American Sands is developing its oil sands operation outside of Price, Utah, where it currently has rights to over 2,000 acres of prime oil sand deposits. At full production, AMSE expects to produce 50,000 barrels of oil per day, employing conventional underground mining and an extraction and recovery system using a proprietary solvent. The Company’s extraction system consumes no water in its process. “The Utah oil sands are “oil wet”, which allows us to extract the bitumen while neither consuming water in the process nor producing waste water as a byproduct,” according to Andrew Rosenfeld, company President. “This is a key differentiator between us and more traditional oil sand companies. It is our goal to minimize our environmental impact through employing underground mining techniques and creating zero wastewater tailings.” For additional information about American Sands Energy Corp., please contact either Tom Herbert of CleanTech Investor Relations (310-541-6824, therbert@cleantech-ir.com) or Daniel Carlson, Chief Financial Officer (415-460-1165, info@americansandsenergy.com).
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