Blue Dolphin Energy Company (BDCO)

[56Chevy]

Thank you jmjjw for the insightful feedback.

You've provided a clearer picture of what the Nixon facility actually is. I knew the plant was very "basic" in its operational capabilities but perhaps not quite to the extent you just explained it to be.

A topping unit is the "front-end" of a complete refinery. It would be a tough call to invest in an asset sale for a topping unit, because the investment to drive it into a profitable, higher margin operation would be substantial.

In terms of the capital expense required I have no doubt that is the reality any future bidder would have to consider...but in terms of the time expense it would take for that same suitor to duplicate that "front-end" somewhere else has to be a huge and costly gamble. The Nixon facility already exist and it does so in a county/community that has welcomed it with open arms. Those types of intangibles are hard to put a price on.

Once again thank you for the input..your thoughts and opinions are welcome.

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