MMEX Resources Corp (MMEX)

[jmjjw]

MMEX is a shell company, with no business operations, no assets, nearly $40-million in cumulative shareholder losses and liabilities, more than $2.1-million in current, floor-less convertible debt, and no production facility.

MMEX has failed for more than one year to secure project financing, and that will likely continue to be the case - in the event it escapes notice, MMEX has seven business days remaining before its next self-imposed deadline expires.

Why would any mid-stream company execute a supply contract with a company that cannot perform (MMEX), or an SPV that does not even exist (PCR)? Doesn’t sound like good business.

Why would a mid-stream company, on its dime, construct a pipeline to an imaginary facility, for an unproven customer, that might not be able to pay?

The nearest terminal, either as the crow flies, or by road is on FM 1450 south of Grandfalls - 37 road miles by the most direct route.

It isn’t an EnLink (MMEX's imaginary supplier) facility by the way. The most efficient routing would be to acquire ROW on the same road route, so about 37 miles of pipeline, 6” to 8” would be required, at maybe a $500K per mile - or about $18-milion in project terms. An $18-million stranded asset. Heck of a business decision. Only other possibility is to haul it out OTR, 200-bbl at a time, 50-trips a day, at between $3 - $9 bbl. hit for transportation costs. Mad J. might as well tape dollar bills on every barrel of imaginary product he imagines he might make.