Blue Dolphin Energy Company (BDCO)

[56Chevy]

Although book value at 6/30/16 was $2.56, the real question would be the market value of the refinery?

Unrelated to Blue Dolphin Energy this article, regarding Raven Petroleum's desire to build a new refinery in nearby Hebbronville, gives us some idea what it would take to duplicate the Nixon facility.

http://fuelfix.com/blog/2016/12/07/raven-petroleum-aims-to-build-first-new-texas-refinery-in-decades/

Raven Petroleum is throwing out the figure of $500MM to build their proposed 50K bbl @ day plant which is substantially larger when compared to Blue dolphins' existing 15K bbl @ day facility. However, the key word in this discussion is the word existing ..because to build a new refinery from scratch, even in the oil friendly State of Texas is no slam dunk endeavor. In financial terms they're estimating it would take $500MM but in terms of the time it will take to see the first drop of refined fuel they are looking at years!

In fact the refinery has recently hit a snag...see article below;

Webb County judge withdraws support for proposed South Texas refinery

Feb 28, 2017

http://www.bizjournals.com/sanantonio/news/2017/02/28/webb-county-judge-withdraws-support-for-proposed.html

I'm not saying the Blue Dolphin facility is worth $500MM but this proposed facility proves it wouldn't be cheap in time or money to replicate.

Perhaps finding someone, other than Carroll, to run our facility to its ability/capacity would be the real trick! ":~/

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Blue Dolphin Energy (BDCO)
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