MMEX Resources Corp (MMEX)

[jmjjw]

The nature of a good scam is superficial appearance of something real.

If by "they" you are referring to TCEQ, the agency has no choice. That is the nature of a an administrative PBR.

TCEQ has no role in MMEX's business decisions. If the requested permit application meets the PBR guidelines, by Texas statute, TCEQ must approve, and issue the permit. It has absolutely zero role in determining the marketability or business merit of MMEX's operation.

Emphasizing again, it is well understood in the refining industry that a topping unit generates zero margin. A topping unit cannot generate any positive cash-flow. So it would never generate positive income.

Having loss-producing infrastructure in place serves no purpose, either to the operator, or to a potential investor. A 10,000bbl topping unit does not lead to a 100,000bbl refinery with conversion capability.

The press is another matter. There are few investigative journalists, particularly in the region, where this story is of interest. I would not count on any regional, or even state level media covering the MMEX scam at other than a superficial level.

All interesting information. But I still got to wonder why they would approve a topping unit that doesn't produce a sellable product. That is the whole point of the thing is to have income and some infrastructure in place before the 100k BPD is applied for. Surely the press would be getting some second opinions from third parties to confirm its viability.