SureTrader
Nadex Advertisement
Interactive Brokers Advertisement
Home > Boards > US OTC > Oil/Gas/Natural Energy Production > MMEX Resources Corp. (MMEX)

$MMEX MMEX Resources Announces Plan to Build $450

Public Reply | Private Reply | Keep | Last ReadPost New MsgReplies (2) | Next 10 | Previous | Next
$Pistol Pete$ Member Profile
Member Level 
Followed By 1,938
Posts 190,814
Boards Moderated 103
Alias Born 05/06/14
160x600 placeholder
Current Report Filing (8-k) "Edgar (US Regulatory)" - 7/10/2017 2:49:31 PM
Securities Registration Statement (s-1) "Edgar (US Regulatory)" - 6/26/2017 6:04:20 AM
Current Report Filing (8-k) "Edgar (US Regulatory)" - 6/13/2017 3:39:58 PM
Current Report Filing (8-k) "Edgar (US Regulatory)" - 6/7/2017 10:02:36 AM
Current Report Filing (8-k) "Edgar (US Regulatory)" - 5/25/2017 2:26:41 PM
Current Report Filing (8-k) "Edgar (US Regulatory)" - 5/19/2017 1:01:43 PM
Current Report Filing (8-k) "Edgar (US Regulatory)" - 4/27/2017 6:12:07 AM
These Energy Companies May Have Significant Potential and Initiating Coverage on a Mobile Tech Company "InvestorsHub NewsWire" - 4/20/2017 9:00:00 AM
Current Report Filing (8-k) "Edgar (US Regulatory)" - 4/17/2017 10:19:37 AM
USMJ Experiencing High Volume On Verge Of PPS Breakout With Stock Rated Very Bullish And Major Short Position Getting Squeezed "InvestorsHub NewsWire" - 4/6/2017 11:49:40 AM
USMJ and PURA PPS Rocket Launch Potential Triggered By Major News Forcing Short Squeeze "InvestorsHub NewsWire" - 4/4/2017 9:15:00 AM
Current Report Filing (8-k) "Edgar (US Regulatory)" - 4/3/2017 1:23:43 PM
Amended Quarterly Report (10-q/a) "Edgar (US Regulatory)" - 3/29/2017 1:18:07 PM
Quarterly Report (10-q) "Edgar (US Regulatory)" - 3/28/2017 2:51:25 PM
Halitron, Inc. (OTC Pink: HAON) Signs LOI for $4.5 million Acquisition Target, First Since Non-Toxic Funding "InvestorsHub NewsWire" - 3/20/2017 6:40:00 AM
Notification That Quarterly Report Will Be Submitted Late (nt 10-q) "Edgar (US Regulatory)" - 3/17/2017 11:17:20 AM
Quarterly Report (10-q) "Edgar (US Regulatory)" - 3/13/2017 12:56:48 PM
Current Report Filing (8-k) "Edgar (US Regulatory)" - 3/10/2017 8:31:03 AM
Quarterly Report (10-q) "Edgar (US Regulatory)" - 2/24/2017 2:47:11 PM
Quarterly Report (10-q) "Edgar (US Regulatory)" - 2/13/2017 8:16:34 AM
Quarterly Report (10-q) "Edgar (US Regulatory)" - 2/3/2017 12:02:03 PM
Quarterly Report (10-q) "Edgar (US Regulatory)" - 1/30/2017 11:12:12 AM
Annual Report (10-k) "Edgar (US Regulatory)" - 1/13/2017 4:51:46 PM
Quarterly Report (10-q) "Edgar (US Regulatory)" - 12/6/2016 11:29:06 AM
Quarterly Report (10-q) "Edgar (US Regulatory)" - 12/5/2016 10:23:24 AM
$Pistol Pete$ Member Level  Sunday, 03/12/17 05:36:59 AM
Re: None
Post # of 63871 
$MMEX MMEX Resources Announces Plan to Build $450 Million Refinery in Permian Basin MMEX



50,000 barrels per day capacity state-of-the-art facility intends to leverage existing infrastructure, bring economic benefits to Fort Stockton, Texas area
AUSTIN, TEXAS, March 07, 2017 (GLOBE NEWSWIRE) --

MMEX Resources Corp. (OTCPK: MMEX), a global energy company focusing on the acquisition, development and financing of oil, gas, refining and infrastructure projects in Texas and South America, announced today that it plans to build a $450 million, 50,000 barrels per day capacity crude oil refinery in the West Texas Permian Basin, subject to the receipt of required governmental permits and completion of required debt and equity financing.

Located 20 miles northeast of Fort Stockton, Texas, near the Sulfur Junction spur of the Texas Pacifico Railroad, the 250-acre facility intends to utilize its connection to existing railways to export diesel, gasoline, and jet fuels; liquefied petroleum gas; and crude oil to western Mexico and South America. Once completed, the Pecos County refinery will be one of the first oil refineries built in the United States in more than 40 years.

Jack W. Hanks, President & CEO of MMEX Resources Corp., commented: “The Permian Basin is the largest continuous oil discovery in America and has experienced exponential gains in daily production volume recently. The existing facilities and pipeline networks are largely unequipped to handle this growth and are limiting where products can be transported. By building a state-of-the-art refinery along the region’s existing railway infrastructure, we hope to bring a local and export market for crude oil and refined products which will add substantial job and economic growth to West Texas.”

MMEX plans to surround the Pecos County refinery with an additional 250 acres of buffer property and leverage state-of-the-art emissions technologies to yield minimal environmental impact. It also expects to feature closed-in water and air-cooling systems, which will require very little local water resources. Construction is slated to begin in early 2018, following the permitting process, and the facility is projected to begin operations in 2019.

The company anticipates the 18-month construction process will create approximately 400 jobs in the area during peak construction, as well as foster a significant number of indirect jobs and revenue for companies in catering, workforce housing, construction, equipment and other industries. Once operational, the facility is expected to provide an estimated 100 permanent jobs and generate substantial tax revenue for Pecos County.

The MMEX management team has more than 30 years of experience building and managing multi-million dollar gas processing, pipelines, power plants, refinery and oil and gas operations in Peru and the United States. MMEX purchased the rights to the project from Maple Resources Corporation. As with each of its previous projects, the management team will establish local offices and representatives to keep the surrounding communities informed throughout the construction phase and once the refinery is fully operational.

“MMEX Resources is eager to work alongside the Pecos County community to produce a state-of-the-art facility that opens up economic and job opportunities for the region. The safety of our employees, the neighboring community and the environment are our top priorities,” concluded Hanks.

About MMEX Resources Corp.

MMEX Resources Corporation (MMEX) is a development stage company formed to engage in the exploration, extraction, refining and distribution of oil, gas, petroleum products and electric power. MMEX focuses on the acquisition, development and financing of oil, gas, refining and electric power projects in Texas, Peru, and other countries in Latin America.

The following constitutes a "Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties, which could cause our actual results to differ materially from those described in the forward looking statements. These risks include but are not limited to general business conditions, the requirement to obtain financing to pursue our business plan, our history of operating losses and other risks detailed from time to time in the Company's SEC reports. MMEX undertakes no obligation to update forward-looking statements.

###
Media Inquiries

Danielle Urban
Pierpont Communications
512-448-4950
durban@piercom.com

Community Inquiries

Travis Lawson
Pierpont Communications
713-627-2223
tlawson@piercom.com
Source: MMEX Resources Corp.
© 2017 GlobeNewswire, Inc.

investorshub.advfn.com/$Pistol-Pete$-$Mick$-&-Friends-Stock-Picks-29568/

Public Reply | Private Reply | Keep | Last ReadPost New MsgReplies (2) | Next 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
X
Current Price
Change
Volume
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist