MMEX Resources Corp (MMEX)

[jmjjw]

Incorrect - MMEX's proposed Phase I and II projects fill no market need.

PADD III Texas inland in the West is a very low population density region. The three existing inland refineries already serve the region with surplus, and planned expansion will continue to make that the case.

The remainder of the crude, particularly light crude, is being shipped to the PADD III coastal refineries, which have the flexibility, and the capacity, along with infrastructure for export, to make use of the crude.

A small-scale regional, stranded, isolated, and land-locked serves no market need. There are no refined products pipelines in the vicinity of MMEX's location, and there are no crude transmission lines. The South Orient/Texas-Pacifico is non-functional southwest to the border, and could not serve as an export route until at least 2021 or later. MMEX's Phase I proposed system could produce no products suitable for export to Mexico, even if there were a means of doing so.

Sector knowledge matters, particularly for the regional market - MMEX demonstrates clearly it has none of that knowledge.

Sources like AFPM, the U.S. EIA, and dozens of other industry analysts confirm this - there is no niche, or broad opportunity for MMEX.

Obviously there is a need for more refining capacity. All good for MMEX.

MMEX