MCW Energy Group Refiles Financial Statements and MD&A

MCW Energy Group (TSX-V: MCW) (MCW.V) ("MCW"), a Canadian holding company
involved in fuel distribution and the creation of oil sands extraction
technology, announced today that it has refiled certain previously filed
financial statements and management discussion and analysis ("MD&A").


During the three months ended May 31, 2013, MCW changed the software which it
uses for accounting for its fuel operations. Following that change, MCW
identified a major difference between the new and old software which results in
the excise taxes and environmental fees charged to MCW by its suppliers being
excluded from cost of goods sold and the excise taxes and environmental fees
collected by MCW from customers being excluded from net revenue.


MCW, as reported in the press release of August 2, 2013, initially concluded
that the old software that MCW had previously used was not in compliance with
International Financial Reporting Standards and expected to amend and refile its
financial statements and MD&A for the three months ended November 30, 2012 and
for the three and six months ended February 28, 2013, as well as for the years
ended August 31, 2010, 2011 and 2012.


Following an extensive review of revenue and cost recognition policies under
International Financial Reporting Standards, MCW concluded that the only
revision which is, in fact, required would be to the previously filed condensed
consolidated interim financial statements and MD&A for the three and nine months
ended May 31, 2013 and 2012, in which the excise taxes and environmental fees
received from customers and the identical amounts charged by its suppliers were
both excluded from reported revenues and cost of sales in the financial
statements and MD&A.


The effect of these changes on the previously reported condensed consolidated
interim financial statements and MD&A for the three and nine months ended May
31, 2013 resulted in both the previously reported net revenue and cost of goods
sold being increased by identical amounts, to include the excise taxes and
environmental fees collected by MCW from customers and amounts charged to MCW by
its suppliers. These amounts are identical increases in net revenues and cost of
goods of $46,779,932 for the nine months ended May 31, 2013, $36,877,522 for the
nine months ended May 31, 2012, $16,714,410 for the three months ended May 31,
2013 and $12,856,396 for the three months ended May 31, 2012. These changes do
not affected MCW's previously reported gross profit from fuel operations and the
results of operations.


About MCW Energy Group:

MCW Energy Group Limited is focused on value creation as (i) a distributor of
gasoline and diesel fuels to service stations in Southern California for over 72
years, having revenue in the fiscal year ending August 31, 2011, of US$241.5
million, most recently reported having revenue of USD$363.3 million for the
fiscal year ending August 31, 2012 and, (ii) as a developer of proprietary
technology for the extraction of oil from oil sands at its first field in the
Uinta Basin of Utah, USA. MCW's management team is comprised of individuals who
have extensive knowledge in both conventional and unconventional oil and gas
projects and production, as well as refinery and fuel distribution experience.


The information in this news release includes certain information and statements
about management's view of future events, expectations, plans and prospects that
constitute forward looking statements. These statements are based upon
assumptions that are subject to significant risks and uncertainties. Because of
these risks and uncertainties and as a result of a variety of factors, the
actual results, expectations, achievements or performance may differ materially
from those anticipated and indicated by these forward looking statements.
Forward -looking statements in this news release, include, but are not limited
to the commercial viability of the technology and the extraction plant, economic
performance and future plans and objectives of MCW. Any number of important
factors could cause actual results to differ materially from these
forward-looking statements as well as future results. Although MCW believes that
the expectations reflected in forward looking statements are reasonable, they
can give no assurances that the expectations of any forward looking statements
will prove to be correct. Except as required by law, MCW disclaims any intention
and assumes no obligation to update or revise any forward looking statements to
reflect actual results, whether as a result of new information, future events,
changes in assumptions, changes in factors affecting such forward looking
statements or otherwise.


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
MCW Energy Group Limited
Paul Davey
Communications
[phone] (Ext. 3) or Cell: 1-778-389-0915
[e-mail]