American Sands Energy Corp. Provides Update on Permitting Process
October 13, 2014 (Source: PRNewswire) — American Sands Energy Corp. (OTCBB: AMSE, “AMSE” or the “Company”), an oil sands exploration and development company operating in Utah, is pleased to provide investors with an update on the permitting process for its Sunnyside Project. The Company originally submitted its Notice of Intention to Commence Large Mining Operations (“NOI”) on March 5, 2014 and has been working with the state regulators through the permitting process.
“Last week AMSE submitted an updated NOI to the Utah Division of Oil, Gas & Mining (“DOGM”)”, stated William Gibbs, Company CEO. “At this time, we believe that the revised submission fully responds to the comments provided by DOGM after review of our application. We believe that our project is fully compliant with all rules and regulations of the regulatory agencies. Our philosophy has always been to develop a world class, leading edge environmentally responsible project that protects the environment while extracting these valuable resources.”
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“We have a good working relationship with the regulatory agencies and have worked hard to understand and answer their concerns,” says AMSE’s COO, Robin Gereluk. “Through our innovative water-free process, AMSE is committed to building a showcase project that minimizes our environmental footprint, helping provide the energy we need in the cleanest manner possible.”
American Sands anticipates commencing production by the summer of 2016, producing in excess of 5,000 barrels per day with production costs below $49 per barrel.
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.
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.
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