MMEX Resources Corp (MMEX)

[bears3434]

Mmex key details

As of Jan 15, 2018

Project- Mmex proposes to develop a 100,000 bbl refinery on MMEX owned land (with road and rail connections) located 20 miles NE of Ft Stockton Texas in two phases. Phase 1 will build a 10,000 bbl CDU (crude distillation unit) on 126 acres in 2018 and complete early 2019. Phase 2 proposes to build the full 100,000 bbl refinery on the remainder of 300 or so acres starting with the air permit application first quarter 2019. Build will be from 2019-2021 depending on how long the permit application will take.

Phase 1 actions to date

-Air permit developed by Trinity consultants (lengthy and detailed permit app)
-Air Permit application approved by the TCEQ through permit by Rule
-Right away, road and rail easements as well as municipal permits approved.
-Crude supply and offtake LOIs executed
-plan to initially truck 25 loads of 200 bbl/truck of supply to a 75,000 bbl tank
- initial offloading will also be by trucking (products diesel, naphtha, fuel oil/residual oil)
- Future plan may be oil supply by pipe (supplier usually constructs) or by rail
- Power, and gas line located on property
- EPC contractor hired - vfuels. (.http://www.vfuels.com)Builder hired- RAMA interstate treating (http://www.intertreat.com) ;
- Larger facility engineering company secured KP engineering(http://kpe.com) who did the overall design to incorporate all components together
- FEED (front end engineering design) completed by VFuels and being verified for costs, materials and timing by Rama, the builder. Cost of initial CDU is $47 million.
- EPC contract between all three, mmex/vfuels/Rama being finalized
- O&M contract once financing comes through
- Financing to be 80% while equity to be 20%

- Major item we are all waiting for is the approval of financing. The company has indicated it is working to finalize it in the documents below:

Per the attached presentation :http://www.mmexresources.com/pdf/MMEX_Executive_Summary_01_2018.pdf

Additional info in mmex letter:http://www.mmexresources.com/pdf/MMEX-ShareholderLetter-December2017.pdf ;

Phase 2 actions to date

- kp engineering initial scoping study and plan to incorporate 10,000 and 100,000 bbl facilities
- Plan to close on phase 2 land by Jan 31, 2018 per the company
- Plan to finalize design and permit application 1st quarter

Currently using convertible notes to finance the pre-build items (land,permit application, city permits,lawyers, contractors).

Class B(non tradable shares) 10 votes per share, Jan 15th- Full o/s 1,500,000,000
Only Jack Hanks and Bruce Lemons own these non trading shares

Above Are FACTS not Speculations !!!!

I’ll go with Pure Facts any day !!!

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