updated 11/3/2010 10:16:52 PM ET 2010-11-04T02:16:52

WHITTIER, Calif., Nov. 3, 2010 (GLOBE NEWSWIRE) -- After careful review of the independent Environmental Impact Report (EIR) for the Whittier Main Field project, Matrix Oil has announced its support for the "Consolidated Central Site" project alternative.

"We've reviewed all the site options presented in the EIR and it is abundantly clear that the Consolidated Central Site is the location that best minimizes impacts for the community and the environment," said Michael McCaskey, Executive Vice President of Matrix Oil Corporation.

In 2008, the City of Whittier awarded Matrix a lease for the resumption of oil and natural gas extraction from the Whittier Main Field site. The field is located on 7 acres of the Puente Hills Landfill Native Habitat Preserve, which is only 0.5% of the 1290 acres owned by the City.

"We found the EIR presented an irrefutable case for the Consolidated Central Site as the location that significantly reduces to less than significant impacts, such as traffic and sound, while also protecting Whittier's natural habitat and allowing the City to gain a tremendous source of new revenue," said McCaskey.

The EIR also presents for discussion two different routes that can be used to access the Consolidated Central Site – Colima Road and the existing landfill road.  

"Matrix prefers the landfill road option. The landfill road is an existing road and using it to access our site would minimize impacts on quality of life and the environment," said McCaskey. "However, all options are still on the table and we will continue to work with the City and residents to understand which access point best addresses their needs."

Matrix plans to further outline their support for the development of the Consolidated Central Site in written comments to the City.

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved


Discussion comments


Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 3.79%
$30K home equity loan FICO 4.99%
$75K home equity loan FICO 4.69%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.83%
Cash Back Cards 17.80%
Rewards Cards 17.18%
Source: Bankrate.com