Replies to post #84581 on MMEX Resources Corp (MMEX)

[Powdercoater]

Thank for the FACTS Bears.

[DirtyDawg]

Yes bears....One step at a time.

Dot the i's and cross the t's.

First new refinery in over 40 years.

MMEX

[2012sandman]

Great Post Bears3434, its nice to see factual information and not fictional all the time, MMEX is on their way and I am riding this train to the end, no matter what!

[tothe]

EPC contract between all three, mmex/vfuels/Rama being finalized

And this:
https://ih.advfn.com/p.php?pid=nmona&article=76562464

That's the classic setup we call "Syndication". ;-)

[jmjjw]

More distortion, and misinformation about MMEX:

-Air permit developed by Trinity consultants (lengthy and detailed permit app)
-Air Permit application approved by the TCEQ through permit by Rule

The TCEQ Type O Permit, an administrative permit, obtained under the Permit By Rule (PBR) process is of no significance. Permits of this nature are neither "lengthy" or "detailed" - they require filling in forms, and submitting certain simple supporting materials, along with a $100 application fee. Businesses like dry cleaning stores, rock crushers, temporary cement plants, and so on regularly apply for, and receive these permits - MMEX lacked even the basic internal competence to apply for the Type O permit, and had to hire an outside consultant (Trinity) to prepare and submit the application.

Unfortunately for MMEX, were it ever to construct the associated Phase I rudimentary topping unit, MMEX would be limited to operating exactly what was permitted - which is fatally flawed.

-Right away, road and rail easements as well as municipal permits approved.
-Crude supply and offtake LOIs executed

The correct term is Right-Of-Way (abbreviated ROW). The South-Orient/Texas Pacifico easement, and associated rail line were already in place, unrelated to MMEX's efforts. Texas Gulf Plant Road (Gulf Plant Road) likewise is an existing county road, MMEX had nothing to do with it. There are no municipal permits involved at all, as MMEX's site is wholly under Pecos County jurisdiction - no municipality is involved. The only easements involved relate to access over UT Lands owned property between the MMEX site and external roads.

MMEX has to date published nothing, other than an unsupported statement, that there are either customer or supplier agreements. An LOI is not contractually enforceable.

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)

MMEX requires at least 50 200-bbl loads daily to maintain supply.

The products the Phase I system would produce have no direct market.

I won't take time to torpedo the remainder - it just isn't worth it.

MMEX isn't building a topping unit, or a refinery. It is just a share-selling scheme.

[ROCKER67]

Right on bears good info:-)