SALT LAKE CITY, Aug. 6, 2015 (GLOBE NEWSWIRE) -- American Sands Energy Corp. ($AMSE) ("AMSE" or the "Company"), an oil sands exploration and development company operating in Utah, is pleased to announce the appointment of Glenn McGinnis as its Chief Operating Officer. Mr. McGinnis has spent his career in the engineering, development, construction and operation of refineries and chemical related businesses. During his career he has managed refineries (including the construction and operation) with capacity from 60,000 barrels per day to 155,000 barrels per day. He has served as Director of Engineering, Construction and Planning, and as Vice President and General Manager for El Paso Corporation and its Aruba Refinery. He also served as President and CEO of Orion Refining Corporation where he had total responsibility for the day-to-day operation of the company as well as completion of a $1 billion capital project to expand and restart a 155,000 B/D refinery in Southern Louisiana. Mr. McGinnis is also the chief executive officer of Universal Oil Recovery, LLC, a company that has developed a suite of solvents for extracting oil from oil shale, oil sands, and coal. He was instrumental in the development of the solvent and the technology the Company has licensed from Universal Oil Recovery.
"We are excited to have someone of the caliber and experience of Mr. McGinnis join our team. His experience in the refining and chemicals industry is exactly what the Company needs to move into the next phase of developing and building our project," said William Gibbs, Chairman/CEO.
"I am excited to be working with the Company in this new capacity. I believe the Company has a world class project and my experience will help accelerate this next phase of development," stated Mr. McGinnis.
American Sands is the developer of the Sunnyside project in Utah. The Company currently controls over 150 million barrels of oil sands resource and hopes to be in production by the end of 2016.
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. 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.
CONTACT: David Hardman, CFO (801) 536-6140
Source: GlobeNewswire (August 6, 2015 - 4:17 PM EDT)
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