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MMEX up 33% on light Vol. .01+ Today DOABLE!
Called NAFS CEO, said 43-101 PR within>2>weeks>PH#>1 + 778-772-8184
MMEX Valuation is .58 & $30 Million NOL>Tax>Shelter!>
Following the 8-K filed by MMEX below, I will show how the ”potential” valuation for MMEX is approximately .583 per share based on the info from the 8-K below:
Quote:
http://ih.advfn.com/p.php?pid=nmona&article=74066594
Item 1.01 Entry into a Material Definitive Agreement
On March 4, 2017, MMEX Resources Corporation (the “Company”) entered into an agreement with Maple Resources Corporation (“Maple”), a related party, to acquire all of Maple’s right, title and interest (the “Rights”) in plans to build a $450 million, 50,000 barrels per day capacity crude oil refinery in Pecos County, Texas (the “ Refinery Transaction” or the “Project”). Pursuant to the Refinery Transaction, the Company agreed to acquire the Rights in exchange for the issuance of 7,000,000,000 new common shares (the “Purchased Shares”).
Completion of the Project is subject to the receipt of required governmental permits and completion of required debt and equity financing. The Company has previously incurred continuous losses from operations, has an accumulated deficit of approximately $30 million…
Based on the math from the 8-K info above, I have derived how it is fair to presume .583 per share as a fair valuation for MMEX:
50,000 Barrels Per Day x 365 Days Per Year = 18,250,000 Barrels Per Year
The link below confirms that the current retail price for a barrel of oil is $48.00+ per barrel. I will presume the price of oil to be $40.00 per barrel for the purpose of this post:
http://www.nasdaq.com/markets/crude-oil.aspx
18,250,000 Barrels Per Year x $40 Per Barrel Retail Price = $730,000,000 Revenues
The link below confirms a Price to Earnings (P/E) Ratio of 39.94 for 2017 for companies existing within the Oil/Gas (Production and Exploration) Industry:
http://pages.stern.nyu.edu/~adamodar/New_Home_Page/datafile/pedata.html
The P/E Ratio is the variable that is multiplied by the Earnings Per Share (EPS) to get where a stock should fundamentally trade compared to the other stocks within its Industry or Sector. The links below should help to better understand the P/E Ratio logic:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=57154170
http://www.investopedia.com/terms/p/price-earningsratio.asp
Because of the $30,000,000 listed as an Accumulated Deficit, this means that it is going to be officially used as a Tax Shelter as a Net Operating Loss (NOL). This will greatly enhance the profitability of MMEX. I was going to presume a Net Profit Margin of 10%, but with adding this $30 Million NOL, this makes it very fair to presume at least a Net Profit Margin of 20% for the MMEX operations. I will explain more about the NOL as a Tax Shelter after I explain the share price valuation below.
$730,000,000 Revenues x .20 Net Profit Margin = $146,000,000 Net Income
I believe to air on the side of caution, let’s presume a worst case scenario for the Outstanding Shares (OS) being maxed out to be 10 Billion shares:
Net Income ÷ Outstanding Shares (OS) = EPS
$146,000,000 Net Income ÷ 10,000,000,000 (OS) = .0146 EPS
EPS x P/E Ratio = MMEX Share Price Valuation
.0146 EPS x 39.94 P/E Ratio = .583 per share
Please, anyone with an issue with any of the variables I used above to derive the MMEX valuation, simply use the ”Substitution Property” to replace that variable and I am still confident that… bottom line… it will still reflect that MMEX is worth quite a few pennies.
MMEX $30,000,000 NOL Tax Shelter
MMEX has stated to have $30,000,000 listed on their Balance Sheet as an Accumulated Deficit within their 8-K fled below which is also no confirmed within its recently filed 10-Q filing below:
http://ih.advfn.com/p.php?pid=nmona&article=74066594
http://ih.advfn.com/p.php?pid=nmona&article=74079986&symbol=MMEX
This greatly justifies the company’s position as a huge merger candidate. The MMEX public entity is very attractive for a huge positive Net Income generating company wanting to merge into MMEX which is why this deal is being completed. This is because of the $30,000,000 being available to be used as a 2 year carry back and 20 year carry forward Tax Net Operating Loss (NOL) to reduce the taxable income for a merging company’s future tax years. That’s an average of roughly $1.5 Million in the reduction of its taxable income per year over a 20 year time frame or $3 Million in the reduction of its taxable income per year over a 10 year time frame. This is basically like adding $1.5 or $3 Million or so back into the MMEX amount of Net Income generated. Merging this project into MMEX would be better versus registering as a new entity or IPO-ing because you won’t have such huge ”tax shelter” otherwise as a huge tax benefit already existing.
Below are some good videos to listen and understand the logic regarding Net Operating Losses (NOL):
http://www.investopedia.com/video/play/net-operating-loss-nol/?ad=dirN&qo=serpSearchTopBox&qsrc=1&o=40186
http://www.investopedia.com/terms/l/losscarryforward.asp
http://www.investopedia.com/terms/n/netoperatingloss.asp
Net Operating Losses (NOLs) on the 3 Financial Statements
MMEX .583 Valuation & $30 Million NOL Tax Shelter>
Following the 8-K filed by MMEX below, I will show how the ”potential” valuation for MMEX is approximately .583 per share based on the info from the 8-K below:
Quote:
http://ih.advfn.com/p.php?pid=nmona&article=74066594
Item 1.01 Entry into a Material Definitive Agreement
On March 4, 2017, MMEX Resources Corporation (the “Company”) entered into an agreement with Maple Resources Corporation (“Maple”), a related party, to acquire all of Maple’s right, title and interest (the “Rights”) in plans to build a $450 million, 50,000 barrels per day capacity crude oil refinery in Pecos County, Texas (the “ Refinery Transaction” or the “Project”). Pursuant to the Refinery Transaction, the Company agreed to acquire the Rights in exchange for the issuance of 7,000,000,000 new common shares (the “Purchased Shares”).
Completion of the Project is subject to the receipt of required governmental permits and completion of required debt and equity financing. The Company has previously incurred continuous losses from operations, has an accumulated deficit of approximately $30 million…
Based on the math from the 8-K info above, I have derived how it is fair to presume .583 per share as a fair valuation for MMEX:
50,000 Barrels Per Day x 365 Days Per Year = 18,250,000 Barrels Per Year
The link below confirms that the current retail price for a barrel of oil is $48.00+ per barrel. I will presume the price of oil to be $40.00 per barrel for the purpose of this post:
http://www.nasdaq.com/markets/crude-oil.aspx
18,250,000 Barrels Per Year x $40 Per Barrel Retail Price = $730,000,000 Revenues
The link below confirms a Price to Earnings (P/E) Ratio of 39.94 for 2017 for companies existing within the Oil/Gas (Production and Exploration) Industry:
http://pages.stern.nyu.edu/~adamodar/New_Home_Page/datafile/pedata.html
The P/E Ratio is the variable that is multiplied by the Earnings Per Share (EPS) to get where a stock should fundamentally trade compared to the other stocks within its Industry or Sector. The links below should help to better understand the P/E Ratio logic:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=57154170
http://www.investopedia.com/terms/p/price-earningsratio.asp
Because of the $30,000,000 listed as an Accumulated Deficit, this means that it is going to be officially used as a Tax Shelter as a Net Operating Loss (NOL). This will greatly enhance the profitability of MMEX. I was going to presume a Net Profit Margin of 10%, but with adding this $30 Million NOL, this makes it very fair to presume at least a Net Profit Margin of 20% for the MMEX operations. I will explain more about the NOL as a Tax Shelter after I explain the share price valuation below.
$730,000,000 Revenues x .20 Net Profit Margin = $146,000,000 Net Income
I believe to air on the side of caution, let’s presume a worst case scenario for the Outstanding Shares (OS) being maxed out to be 10 Billion shares:
Net Income ÷ Outstanding Shares (OS) = EPS
$146,000,000 Net Income ÷ 10,000,000,000 (OS) = .0146 EPS
EPS x P/E Ratio = MMEX Share Price Valuation
.0146 EPS x 39.94 P/E Ratio = .583 per share
Please, anyone with an issue with any of the variables I used above to derive the MMEX valuation, simply use the ”Substitution Property” to replace that variable and I am still confident that… bottom line… it will still reflect that MMEX is worth quite a few pennies.
MMEX $30,000,000 NOL Tax Shelter
MMEX has stated to have $30,000,000 listed on their Balance Sheet as an Accumulated Deficit within their 8-K fled below which is also no confirmed within its recently filed 10-Q filing below:
http://ih.advfn.com/p.php?pid=nmona&article=74066594
http://ih.advfn.com/p.php?pid=nmona&article=74079986&symbol=MMEX
This greatly justifies the company’s position as a huge merger candidate. The MMEX public entity is very attractive for a huge positive Net Income generating company wanting to merge into MMEX which is why this deal is being completed. This is because of the $30,000,000 being available to be used as a 2 year carry back and 20 year carry forward Tax Net Operating Loss (NOL) to reduce the taxable income for a merging company’s future tax years. That’s an average of roughly $1.5 Million in the reduction of its taxable income per year over a 20 year time frame or $3 Million in the reduction of its taxable income per year over a 10 year time frame. This is basically like adding $1.5 or $3 Million or so back into the MMEX amount of Net Income generated. Merging this project into MMEX would be better versus registering as a new entity or IPO-ing because you won’t have such huge ”tax shelter” otherwise as a huge tax benefit already existing.
Below are some good videos to listen and understand the logic regarding Net Operating Losses (NOL):
http://www.investopedia.com/video/play/net-operating-loss-nol/?ad=dirN&qo=serpSearchTopBox&qsrc=1&o=40186
http://www.investopedia.com/terms/l/losscarryforward.asp
http://www.investopedia.com/terms/n/netoperatingloss.asp
Net Operating Losses (NOLs) on the 3 Financial Statements
*****Huge usrm profits now buying MMEX!*****
MMEX .583 Valuation & $30 Million NOL Tax Shelter>
Following the 8-K filed by MMEX below, I will show how the ”potential” valuation for MMEX is approximately .583 per share based on the info from the 8-K below:
Quote:
http://ih.advfn.com/p.php?pid=nmona&article=74066594
Item 1.01 Entry into a Material Definitive Agreement
On March 4, 2017, MMEX Resources Corporation (the “Company”) entered into an agreement with Maple Resources Corporation (“Maple”), a related party, to acquire all of Maple’s right, title and interest (the “Rights”) in plans to build a $450 million, 50,000 barrels per day capacity crude oil refinery in Pecos County, Texas (the “ Refinery Transaction” or the “Project”). Pursuant to the Refinery Transaction, the Company agreed to acquire the Rights in exchange for the issuance of 7,000,000,000 new common shares (the “Purchased Shares”).
Completion of the Project is subject to the receipt of required governmental permits and completion of required debt and equity financing. The Company has previously incurred continuous losses from operations, has an accumulated deficit of approximately $30 million…
Based on the math from the 8-K info above, I have derived how it is fair to presume .583 per share as a fair valuation for MMEX:
50,000 Barrels Per Day x 365 Days Per Year = 18,250,000 Barrels Per Year
The link below confirms that the current retail price for a barrel of oil is $48.00+ per barrel. I will presume the price of oil to be $40.00 per barrel for the purpose of this post:
http://www.nasdaq.com/markets/crude-oil.aspx
18,250,000 Barrels Per Year x $40 Per Barrel Retail Price = $730,000,000 Revenues
The link below confirms a Price to Earnings (P/E) Ratio of 39.94 for 2017 for companies existing within the Oil/Gas (Production and Exploration) Industry:
http://pages.stern.nyu.edu/~adamodar/New_Home_Page/datafile/pedata.html
The P/E Ratio is the variable that is multiplied by the Earnings Per Share (EPS) to get where a stock should fundamentally trade compared to the other stocks within its Industry or Sector. The links below should help to better understand the P/E Ratio logic:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=57154170
http://www.investopedia.com/terms/p/price-earningsratio.asp
Because of the $30,000,000 listed as an Accumulated Deficit, this means that it is going to be officially used as a Tax Shelter as a Net Operating Loss (NOL). This will greatly enhance the profitability of MMEX. I was going to presume a Net Profit Margin of 10%, but with adding this $30 Million NOL, this makes it very fair to presume at least a Net Profit Margin of 20% for the MMEX operations. I will explain more about the NOL as a Tax Shelter after I explain the share price valuation below.
$730,000,000 Revenues x .20 Net Profit Margin = $146,000,000 Net Income
I believe to air on the side of caution, let’s presume a worst case scenario for the Outstanding Shares (OS) being maxed out to be 10 Billion shares:
Net Income ÷ Outstanding Shares (OS) = EPS
$146,000,000 Net Income ÷ 10,000,000,000 (OS) = .0146 EPS
EPS x P/E Ratio = MMEX Share Price Valuation
.0146 EPS x 39.94 P/E Ratio = .583 per share
Please, anyone with an issue with any of the variables I used above to derive the MMEX valuation, simply use the ”Substitution Property” to replace that variable and I am still confident that… bottom line… it will still reflect that MMEX is worth quite a few pennies.
MMEX $30,000,000 NOL Tax Shelter
MMEX has stated to have $30,000,000 listed on their Balance Sheet as an Accumulated Deficit within their 8-K fled below which is also no confirmed within its recently filed 10-Q filing below:
http://ih.advfn.com/p.php?pid=nmona&article=74066594
http://ih.advfn.com/p.php?pid=nmona&article=74079986&symbol=MMEX
This greatly justifies the company’s position as a huge merger candidate. The MMEX public entity is very attractive for a huge positive Net Income generating company wanting to merge into MMEX which is why this deal is being completed. This is because of the $30,000,000 being available to be used as a 2 year carry back and 20 year carry forward Tax Net Operating Loss (NOL) to reduce the taxable income for a merging company’s future tax years. That’s an average of roughly $1.5 Million in the reduction of its taxable income per year over a 20 year time frame or $3 Million in the reduction of its taxable income per year over a 10 year time frame. This is basically like adding $1.5 or $3 Million or so back into the MMEX amount of Net Income generated. Merging this project into MMEX would be better versus registering as a new entity or IPO-ing because you won’t have such huge ”tax shelter” otherwise as a huge tax benefit already existing.
Below are some good videos to listen and understand the logic regarding Net Operating Losses (NOL):
http://www.investopedia.com/video/play/net-operating-loss-nol/?ad=dirN&qo=serpSearchTopBox&qsrc=1&o=40186
http://www.investopedia.com/terms/l/losscarryforward.asp
http://www.investopedia.com/terms/n/netoperatingloss.asp
Net Operating Losses (NOLs) on the 3 Financial Statements
MMEX ON LOCAL TEXAS TV!>PECOS COUNTY, TX (KWES) - Fort Stockton may see an oil refinery that would bring 500 jobs.
By Jolina Okazaki
The small town of Fort Stockton may see economic growth in the next few years.
"The city, we're really excited about it," said Fort Stockton Mayor, Chris Alexander.
MMEX Resources Corporation is an energy company based in Austin. They're looking to build a $450 million crude oil refinery in Pecos County. The facility is about 250 acres. If it's approved, it will work with existing railways to export diesel, liquefied petroleum gas, jet fuel and crude oil to western Mexico and South America. So far, the city and county have shown support for the project.
"It diversifies our community in Pecos County," said Pecos County Judge, Joe Shuster. "We believe it will be just great. I think it means our future is a little bit brighter. We will have an opportunity to take the crude oil out of the ground and make gasoline and other crude products and be able to sell them both on the railroad and even locally."
The company said the facilities and pipeline networks in the Basin will be able to handle products that are transported.
"The Permian Basin is the largest continuous oil discovery in America," said MMEX CEO, Jack Hanks. "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.”
The company said construction may take about 18 months but that process is said to open up 400 jobs. Once it begins operating, it's expected to provide 100 permanent jobs as well as generate substantial tax revenue for the county.
"That doesn't include the support facilities and people that are going to be there," said Alexander. "So we're really excited about this project."
Copyright 2017 KWES. All rights reserved.
Newest Texas Refinery to Turn Shale Into Fuel for Mexico
29 Mar 2017 Mexico, Shale Oil
The newest oil refineries in Texas are looking to join the hottest two plays in the North American oil industry. Raven Petroleum LLC and MMEX Resources Inc. are building refineries in the Eagle Ford and Permian Basin that will process ample local supplies of light crude into gasoline and diesel. The fuel will be shipped on existing rail lines across the border to Mexico, where the government has opened the market to foreign competition, attracting companies including BP Plc and Glencore Plc. U.S. shale drillers have doubled the number of rigs seeking oil since May, with most of the gains seen in Texas. Production nationwide is expected to approach the all-time high from 1970. At the same time, Mexico’s gasoline demand is outpacing local supply, forcing the nation to increase imports, which government data show grew 3 percent year-on-year in 2016. “It looks like they are a set of […]
View full article at www.bloomberg.com
Tags: brief
Comments are closed.
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MMEX now has huge Assets and borrowing leverage>Jack Hanks 7 billion shares are to be used as Collateral for loan.
MMEX CEO talks about building refinery in West Texas>
Mar 14, 2017, 2:58pm CDT Updated Mar 15, 2017, 10:28am CDT
http://www.bizjournals.com/sanantonio/news/2017/03/14/energy-executive-q-a-ceo-talks-about-plans-to.html
CEO Quote Below: "there’s plenty of financing available"
Part of the article:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=129541612
When will you close on the land for the refinery? We can close at any time up to 180 days. We built quite a bit of time in there in order to finish due diligence. We’ve got to finish up some easements and things like that, so we wanted to build in some time. Other than that, we can really close at any time. We just wanted to know where we’re going to be, and anything else spins off of that with the environmental studies and the permitting.
It’s basically project financing 101. You’ve got to have the location. You’ve got to have the feedstock. You’ve got to have the offtake agreements. You’ve got to have the permits. And with that, ****************there’s plenty of financing available.*************
Quote:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=129542283
How will you be handling financing for the project? It's pure project financing. We would form a special purpose project company that we would call a special purpose vehicle. MMEX would be an owner of that, and then we would bring in their equity. We'll bring in some of own equity, and we'll bring in outside equity, and we'll bring in outside debt. So the project, though, is really dedicated to the payment of the debt and the servicing of the equity. It would be a pure project finance vehicle.
No stock sale? We will run some money in the market as part of our equity that we put in. That's the reason why we wanted to use MMEX. It's a microcapped company that we've had for a long time that we've had no assets in it. We wanted to use it as a vehicle to get everything moving. We'll raise money at MMEX, and we'll invest money into the project.
Will you be seeking any tax abatement or incentives? We are working primarily through the Fort Stockton Economic Development Council, and they’ve already offered tax abatements and other issues to work through. We haven’t gotten into the details, but they already put on the table that it’s up for discussion and negotiation. But I will tell you this, the tax issues don’t either make or break the project.
Who is handling the environmental assessment for the project? We’ve got several consultants that we’re talking to on a number of fronts. But what they asked me not to do is give out their name because they’ll get a billion calls. We’ve got a well-known Houston firm that’s doing the engineering and design work. We’ve got a well-known Dallas firm that’s putting together the business plan, the modeling and all of the marketing and input sides. They’re sort of the gold standard to do this. That’ll all constitute the financing documents that we go with. We have yet to settle on an environmental consulting firm, but we’ll do that and go to the Texas Commission on Environmental Quality.
By virtue of picking something around 50,000 barrels per day, we’ve become a minor source of emissions. That way we get to stay within the state of Texas. The EPA has delegated that responsibility to the Texas Commission on Environmental Quality. That’s where the air permits will be decided. We had our preliminary meeting with the TCEQ, and that’s what they want you to do. They want you to come and tell them what you’re doing before you start doing it, so they can help guide the process. They’re very pro-business, and they want to see this work.
Obviously, we need an in-state, Texas-based consultancy that’s familiar with air issues in the state of Texas, and then we’ll started putting all of that together. They have an expedited procedure if you pay $10,000 more for your filing fee, which in the scheme of things is not significant if you’re looking at a big project like this, and they’ll try to expedite the process. But realistically, its going to be a nine- to 12-month process because there are two 30-day notice periods in there for public comments.
Raven Petroleum plans to build a "green" refinery in South Texas using a geothermal plant to provide power, water and carbon sequestration. What can we expect from the Pecos refinery? It’s too early right now. We’ve built power plants in Peru and pipelines and things like that, but my gut feeling is to keep as simple as you can. We’re going to be state-of-the-art on emission standards and controls. The more pieces that you add to this, it gets complicated. We don’t have any other bells and whistles that we think are really needed. We use very little water in this process. There is water available, and we’re in the 100-gallons-per-minute range, but we will have a closed-water system. We clean and loop it, so that’s not a lot of water for an industrial facility.
We already met with the water board, and they told us that they have ranchers out there that use 2,000 to 3,000 gallons per minute and that your normal garden hose is 5 gallons per minute. So 100 gallons per minute, in perspective, it’s not very big of a deal. That’s great because water is a special resource in West Texas as it is everywhere.
We’ve got two major power lines that come right through the property. That’s another significant factor for us. Power is readily available. Obviously, construction permits have to go through the county. We’ve met with the county judge. We’ve met with the mayor. We’ve met with the water board. We did all that before we ever made the announcement.
What is MMEX’s relationship with Maple Resources?
I started my company called Maple Resources Corp. I own 100 percent of the shares in the privately held company. I started in Dallas in 1987. We used Maple Resources as a vehicle, and we acquired a bunch of producing properties in the United States. We did a bunch of transactions in the $20 million-to-$40 million range buying production. Our biggest transaction was that we bought the Cabot Corp.'s gathering and processing systems in the Panhandle, West Texas, New Mexico and Oklahoma. We operated that for several years, and then I packaged all the U.S. assets up and I sold them in 1992 and we went to Peru.
I took Maple and a few of the management people, and that's how we got concessions in Peru for the natural gas fields, an existing refinery and some legacy oil fields that were connected to the refinery. We've been operating in Peru ever since.
I own 100 percent of Maple Resources USA, and that's my vehicle to go and find opportunities. Maple Resources is also negotiating a two-terminal facility at a refinery in Brazil in the state of Bahia, which is north of the Strait of Rio. It's near a city called Salvador. The largest petrochemical complex in the Southern Hemisphere is located about 30 kilometers from this. So, we're negotiating over that, but all of that is being done in the name of Maples Resources USA.
When I started looking at the refinery opportunities in West Texas, Maple Resources did all of that. But then, once we got the land, some of the assets and intellectual property rights, we just bended that into MMEX. Because I'm a majority shareholder of MMEX, I wanted to rehabilitate MMEX. It's had a history of a mining business, but we had to sell off assets, and so the stock is worth very little. But we've got several ventures including ourselves. We've basically invested more than $20 million in MMEX since 2010.
Will Maple Resources ever go public? No. I think that the advantage is that Maple can always be a privately held company. It can go put 100 deals together that can be public, but there's an advantage to having a privately held company. Being a public company is not easy. It's expensive. You've got public auditors and filings, and it's a lot of work. But the trade-off is that you've got access to capital markets that you don't otherwise have as a private company. My thoughts are to keep Maple Resources private.
Any chance of MMEX’s stock getting upgraded? We've been over-the-counter bulletin board, and we slipped down to over-the-counter pink sheets. We're at the bottom of the barrel. There are listing standards for Nasdaq or the other exchanges, but you have to have so much share flow, and your share price has to be $1 dollar or more. We would like to upgrade as soon as we can. That would be one of the great plans that we'd like to follow.
What does MMEX stand for? When we bought MMEX, it was called Management Energy, but the symbol has always been MMEX. So, we changed it to have MMEX in the name and kept it simple. When we were in the mining [business] in Colombia with MMEX, we had a lot of environmental problems with the mines that we were trying to develop. So we basically shut it down. It went fallow for a number of years, but then I came back over the last year and a half to resurrect it. We have several investors, including myself, that put a lot of money in it. Half of our investors are in Peru. I just felt that if we could put some good assets into MMEX, get out of the mining business altogether and focus on what we know like oil and gas, refining pipelines and power, then it would make a lot of sense. We changed the name about a year ago to MMEX Resources. We've always kept it simple. The plan was to put more resources into MMEX, more than just a refinery.
v/r
Sterling
Bloomberg "MMEX hottest play in North American oil industry"
Bloomberg, "HOTTEST OIL INDUSTRY PLAY IN NORTH AMERICA"
MMEX Wow!
BLOOMBERG on MMEX,"One of the 2 hottest plays in the North American oil industry."
https://www.bloomberg.com/news/articles/2017-03-28/newest-texas-refineries-plan-to-turn-shale-into-fuel-for-mexico
BLOOMBERG on MMEX,"One of the 2 hottest plays in the North American oil industry."
https://www.bloomberg.com/news/articles/2017-03-28/newest-texas-refineries-plan-to-turn-shale-into-fuel-for-mexico
BLOOMBERG SAYS MMEX,"The newest oil refineries in Texas are looking to join the hottest two plays in the North American oil industry."
MMEX Just in BLOOMBERG! Link>"The newest oil refineries in Texas are looking to join the hottest two plays in the North American oil industry."
Raven Petroleum LLC and MMEX Resources Inc. are building refineries in the Eagle Ford and Permian Basin that will process ample local supplies of light crude into gasoline and diesel. The fuel will be shipped on existing rail lines across the border to Mexico, where the government has opened the market to foreign competition, attracting companies including BP Plc and Glencore Plc.
https://www.bloomberg.com/news/articles/2017-03-28/newest-texas-refineries-plan-to-turn-shale-into-fuel-for-mexico
HUGE NEWS, BLOOMBERG ARTICLE ABOUT MMEX JUST OUT @ 4:00pm!
Just called NAFS CEO he's in Australia. He was sleeping & I woke him up lol. He Said the 43 - 101 is done and will be out within 2 weeks.
CEO Phone # Telephone : 1 + 778-772-8184
Unit #1 – 550 Browning Place,
North Vancouver, B.C. V7H 3A9
Telephone : 1 + 778-772-8184
Email : info@nafsinc.ca
New it. Wish I followed you on GIGL. Not going to miss ENDV too. Thanx
Hope vae-kay was good. ENDV board saying you pumped, dumped and disappeared.
PJET WTF, WHEN?!
" 10k under final review since Sunday night. "
Right! Colombian President publicly congratulates>NEWC>NEWC gets articles written about what their doing in Columbia's biggest News Paper - ALL TRUE AND DOCUMENTED! SCAM?! NO WAY!
Feb 7 PR>Approval of the Work Permit is>a>major>milestone>now>they>can proceed with mining activities once the local environmental authority (CAR) recognizes the addition of Gravel and issues an environmental permit for both Gravel and Coal. An application for the environmental permit has been active for the past few years but was suspended in anticipation of the addition of Gravel so the Company will be issued one license for both.
********The Company will personally present the approval resolution to the CAR and (((((((((( expects issuance very quickly since the CAR has already performed a site visit and spent many hours on their case. )))))))))
Thanks! GLTY
Which way, forward split or reverse? TIA
NEWC Auditor Steve Vertucci, F-ing>Scum>Bag>10k>delay>for>No>Reason!
I hope the auditor gets some packing pissed>off>Columbian>visitors!
Give Auditor HELL Steven Vertucci>713.343.4221>svrtucci@malonebailey.com
I hope the auditor gets some packing pissed>off>Columbian>visitors!
NEWC whould be .05 PLUS by now if>not>for F-ing>10k>Auditor>delay!
NEWC Auditor Steve Vertucci, F-ing>Scum>Bag>10k>delay>for>No>Reason!
Give Auditor HELL Steven Vertucci>713.343.4221>svrtucci@malonebailey.com
Columbian Shareholders should get Auditor>Personal>Info>below>post>
NEWC Aditor Steven Vertucci Personal info>http://www.whitepages.com/name/Steven-C-Vertucci/Houston-TX/74q85gm
REPORT or GET Auditor! Address etc>Malone and Bailey>SEC Reporting and
Compliance
PH: 713.343-4286 Malone and Bailey 9801 Westheimer Road Suite 1100 Houston, TX 77042
Steven Vertucci, Audit Partner
svertucci@malonebailey.com
713.343.4221
Give>Auditor>HELL>Steven>Vertucci>email>svertucci@malonebailey.com>713.343.4221> WHY?!>"New Colombia Resources would like to address the>10K>for 2015>The Company has engaged auditors since Nov. 2016; these auditors are independent and do not work at the pleasure of the Company but rather at their own pace implementing audit control measures. *****At the time, and now, there was no reason to believe there would be significant delays in filing of the 10K and the company was optimistic it would be filed expeditiously.
**********Numerous transactions consisting of complex derivative accounting have caused delays beyond the Company's belief.
*****"I share my shareholder's frustration, but at this point I have to let the auditors do their job. All I can do is give them what they ask for, which I have. I was told for the past two weeks we would be done the following week.
*****To my knowledge, there is absolutely nothing being requested that has not been provided nor are there any reasons for concern other than auditor workload," stated John Campo, President of New Colombia Resources. "One thing is for sure, shareholders will be getting a very thorough audRted annual report," further commented Mr. Campo. "
Numerous transactions consisting of complex derivative accounting have caused delays beyond the Company's belief.
*****"I share my shareholder's frustration, but at this point I have to let the auditors do their job. All I can do is give them what they ask for, which I have. I was told for the past two weeks we would be done the following week.
*****To my knowledge, there is absolutely nothing being requested that has not been provided nor are there any reasons for concern other than auditor workload," stated John Campo, President of New Colombia Resources. "One thing is for sure, shareholders will be getting a very thorough audRted annual report," further commented Mr. Campo. "
Give AuditorHELL Steven Vertucci>713.343.4221>svrtucci@malonebailey.com