MMEX Resources Corp (MMEX)

[jmjjw]

WTI is a “synthetic,” benchmark financial product. It is only real in the sense of a blended product at the Cushing hub.

With that, WTI has an API of around 39.6 and specific gravity of about 0.827. It contains about 0.24% sulfur thus is rated as a sweet crude oil (having less than 0.5% sulfur).

MMEX’s application to TCEQ, containing numerous tables, drawings, and so on, states on page 76, the “Crude Oil Whole Properties and Light Ends” tabulation of the input feedstock, a substance known as “Diamond Rogers Blue,” with an assay provided by, wait for it, MMEX. This substance has an "API of 43.7, Specific Gravity 0.8077, with a Sulfur content of 0.03% ."

Where is the independent assay?

MMEX’s application to TCEQ contains numerous boilerplate schematics (not to be confused with actual engineering, or process drawings) that meet TCEQ’s needs, but are otherwise meaningless. A cursory internet search, or cut-and-paste from a basic hydrocarbon refining text could be used to produce these schematics - no actual engineering expertise is required.

A freshman, or marginal undergraduate could produce these “artifacts,” which seem legitimate on the surface.

Even marginal engineering student would rapidly figure out that a process, and refinery engineered for the curious “Diamond Rogers Blue” crude would need to reject the majority of actual Permian Basin crude feedstock.

Challenge MMEX and its representatives to provide verifiable source data on the assayed “Diamond Rogers Blue” crude feedstock, how it is superior to the WTI benchmark, and how they might be entitled to use such a superior feedstock...