MIRAGE ENERGY CORPORATION (OTCMKTS:MRGE) Files An 8-K Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure
On May 25, 2017, Mr. Ward delivered a presentation, as a panel
member, at the 3rd Mexico Gas Summit held in San Antonio, Texas,
(http://www.mexicogassummit.com). Mr. Ward’s presentation
focused on the hydrocarbon infrastructure of Mexico. A summary of
the highlights of Mr. Ward’s presentation is attached below.
THE NEED FOR MEXICO TO DEVELOP NATURAL GAS STORAGE
Natural gas accounts for 70% of the growth in the primary energy
demand sector in Mexico as currently projected thru 2040. The
power sector alone accounts for over half of the total growth,
with gas-fired generation capacity increasing twoand-a-half times
thru 2040. Next is industry, including petrochemical
manufacturing. Finally, is the development of upstream oil and
gas services such as compression and auto-generation. Domestic
natural gas production while rising very moderately, does not
come close to keeping up with the rapidly increasing demand, with
that being said Mexico has no choice but to rely on pipeline and
LNG imports thru 2040.
Mexicos natural gas network is concentrated in two main areas:
the north, near the border with the United States and in the
south, linking production with major consuming areas notably
Mexico City. Interconnections between the two areas are
relatively few with natural gas storage being virtually
nonexistent. Peak demands or swings in gas demand therefore, are
currently met through line pack or draw downs of LNG stored at
the countrys three LNG import terminals which are limited
amounts.
There is no doubt that numerous large diameter pipelines are
being built with more on the drawing board to fill the demand for
natural gas. However just building pipelines is not going to
solve the immediate problems. Without storage facilities ask
yourself this if natural gas should get curtailed from the US
where does that leave Mexicos electrical generation sector,
industrial sector etc.? It would leave the country with a large
deficit in available natural gas or approximately 5 days of
supply.
Natural gas storage properly engineered with pipeline
interconnects in the major pipelines operated not only by CENAGAS
but privately owned companies could balance the demand on the
entire system. An open access storage and pipeline system would
allow anyone to reserve storage capacity or pipeline capacity.
Electrical generators, industrial complex and petrochemical
facilities could virtually balance their peak demands and play
price arbitrage on natural gas swings etc. In addition, the
Country of Mexico could develop it first true NATURAL GAS HUB
instead of relying on U.S. based hubs such as HENRY HUB, WAHA,
HOUSTON SHIP or AGUA DULCE. Mexico could virtually have energy
security of up to one year without being afraid of curtailment
from anyone supplying natural gas, operating much like a
strategic reserve.
MIRAGE ENERGY CORPORATION a publicly traded company (MRGE) with
its wholly owned subsidiaries, WPF Mexico Pipelines S. de R.L. de
C.V, CENOTE ENERGY S. de R.L. de C.V. and WPF TRANSMISSION, INC.
is in the process of preparing to file permits to develop an
integrated project consisting of a pipeline and natural gas
storage project.
WPF MEXICO PIPELINES is in the process of preparing to file
permits to build 235 miles of 36 pipelines capable of
transporting one BCF of natural gas into the country of Mexico
off two separate bidirectional pipelines (PROGRESSO ARGUELLES
with two international pipeline crossings from Texas into Mexico
with capability of delivering 500 MMCF per day each.
WPF TRANSPORTATION, INC. is in the process of preparing to file
permits to build 103 miles of 36 of pipelines (THE CONCHO LINE)
from Progresso north into Texas to deliver natural gas into
Mexico. Which includes two international pipeline crossing with
Presidential Permits. One at Progresso and one at Arguelles.
CENOTE ENERGY S. de R.L. de C.V. is in the process of preparing
to file permits to build the very first underground natural gas
storage facility in the country of Mexico with the capacity to
ultimately store 700 BCF – of natural gas with 70,000 HP of
compression facilities. Phase I consists of 12 BCF of cushion gas
with 52 BCF of working gas with 3 turns a year. Injection rates
into storage will be approximately 700MMCF per day with
extraction rates of approximately 600 MMCF per day. Every year
volume and cushion gas will be increased until reservoir is fully
developed to 700 BCF of gas in storage.
Limitation on Incorporation by Reference
In accordance with General Instruction B.2 of Form 8-K, the
information set forth in this Item 7.01 will not be deemed to be
filed for purposes of Section 18 of the Securities Exchange Act
of 1934, as amended, (the Exchange Act), or otherwise subject to
the liabilities of that section, nor will such information be
deemed incorporated by reference in any filing under the
Securities Act or the Exchange Act, except as will be expressly
set forth by specific reference in such a filing. The information
set forth in this Item 7.01 will not be deemed an admission of
materiality of any information in this report on Form 8-K that is
required to be disclosed solely to satisfy the requirements of
Regulation FD.
Cautionary Note Regarding Forward-Looking Statements
This Current Report on Form 8-K contains forward looking
statements that involve risks and uncertainties. We have
attempted to identify forward-looking statements by terminology
including anticipates, believes, can, continue, could, estimates,
expects, intends, may, plans, potential, predicts, should, or
will or the negative of these terms or other comparable
terminology. Although we do not make forward-looking statements
unless we believe we have a reasonable basis for doing so, we
cannot guarantee their accuracy. These statements are only
predictions and involve known and unknown risks, uncertainties
and other factors which may cause our actual results, as may be
implied by these forward-looking statements. New risks emerge
from time to time and it is not possible for us to predict all
risk factors, nor can we address the impact of all factors on our
business or the extent to which any factor, or combination of
factors, may cause our actual results to differ materially from
those contained in any forward-looking statements. You should not
place undue reliance on any forward-looking statement, each of
which applies only as of the date of this Report.
MIRAGE ENERGY CORPORATION (OTCMKTS:MRGE) Recent Trading Information
MIRAGE ENERGY CORPORATION (OTCMKTS:MRGE) closed its last trading session 00.00 at 1.80 with shares trading hands.
