Replies to post #116490 on MMEX Resources Corp (MMEX)

[jmjjw]

The MMEX STRONG, challenged in understanding, seem to think that a parcel of Pecos County desert has some intrinsic value, and is material in some regard.

First, MMEX-scam’s plot of desert is far removed from critical infrastructure - there are no crude or refined products pipelines nearby, isolating the site from the lowest cost transportation mechanisms for crude and refined products.

The claim “middle of the Permian Basin” is wholly false, another misleading statement by the MMEX STRONG. In fact, MMEX-scam’s isolated site is at the far southern extent of one of the sub-basin regions, and it straddles a marginally productive structure known as the Central Basin Platform.

The nearest crude terminal is 31-miles distant, and there are no refined products terminals within 100-miles.

MMEX-scam’s stranded, isolated location would impose significant margin penalties on any product MMEX-scam might ever produce - which is an even bigger issue for MMEX-scam, as the Phase I facility proposed could never produce a single drop of directly marketable product. The transportation margin hit, and the discount that MMEX-scam forces on itself for ATB, AGO, and LGO guarantee the unit would never break even.

MMEX-scam's land is currently a liability, and in the best case, an unimproved desert parcel is worth only a few thousand dollars. The market value is established, in this case, $10 - this is a matter of public record, available at the Pecos County Clerk's office.

The ridiculous, ludicrous claim "It has to be worth millions..." is nonsensical.

I'm not sure why cheap land is a problem to you. Seems to be a smart purchase. It has to be worth millions in order to build an oil refinery? please explain

[BRoberts1982]

Cheap land in West Texas means nothing to me. There is many millions of acres of desert land in west Texas that can be bought for dozens of dollars an acre.

As far as your question:
(It has to be worth millions in order to build an oil refinery?)

The answer is absolutely not and it is only worth what the going rate for desert land is 20 miles out side of the FT. Stockton area. And that is about $6000 for around 125 acres. (Plus about $300 for a flagpole upgrade)

IS it a smart purchase?

Yes it has been very,very,very,very ,very lucrative for MMEX to get this land for next to nothing and use it as one of the ongoing carrots to get multiple TOXIC LOANS so that MMEX can use millions of dollars for "Administrative Expenses" for a company consisting of one Jack Hanks. Vwey smart for Hanks and the TOXIC LENDERS, not so smart for the stockholders that lost 95% of their value since MMEX acquired that piece of desert.

At this point any investor that has not asked MMEX to show where all the money has gone, pretty much owns the death spiral they contributed too.

If they use it as an education then they at least got something other than rotted carrots.