MMEX RESOURCES CORPORATION (OTCMKTS:MMEX) Files An 8-K Other Events
Item 8.01 Other Events
On April 13, 2017, MMEX Resources Corporation (the Company)
entered into a Master Services Agreement with Trinity
Consultants, Inc. ( Trinity) engaging Trinity to file and process
the necessary Texas Commission of Environmental Quality (TCEQ)
and EPA Region 6 Prevention of Significant Deterioration (PSD)
/New Source Review (NSR) Construction Permit and Title V Federal
Operating Permit which, if successful, would give MMEX the
governmental permissions to build its proposed $450 million,
50,000 barrels per day capacity crude oil refinery in Pecos
County, Texas (the Refinery Transaction or the Project).
There can be no assurance that the Company will be successful in
its efforts to obtain the requisite permits.
The Company has received several requests from its stockholders
for additional information regarding the status of the Pecos
County Refinery Project development and accordingly discloses the
following information:
(1) On February 20, 2017 the Company entered into a purchase and
sale agreement (the PSA) for the Project location which consists
of 500 contiguous acres located on the Texas Pacific Railroad,
about 20 miles northeast of Ft. Stockton, Pecos County Texas in
the southern part of the Permian Basin. The Company plans to
commence the week of April 17, 2017, the survey on the land and
other due diligence. The closing date on the land is on or before
180 days from the date of the PSA which was February 20, 2017.
(2) On March 25, 2017 the Company entered into an EPC Contract
with KP Engineering, LP (KPE). KPE will perform a scoping study,
to design and engineer the Refinery. The scoping study, once
approved by the Company, will lead to a more detailed FEED study,
which is a front- end engineering and design study. This will
give the Company more detailed cost numbers and product slate
output. The FEED Study is estimated to take another 90 days from
the date the scoping study is approved. The EPC Contract provides
that KPE will be the EPC contractor to construct the Project.
(3) On February 27, 2017 the Company entered into a confidential
engagement letter with a consulting firm to assist the Company in
designing the marketing and refined product distribution plan.
(4) On April 13, 2017 the Company entered into the agreement with
Trinity described above.
(5) The Company has entered into confidential discussions with a
Permian Basin mid-stream crude oil and pipeline supplier to
supply the 50,000 BPD of crude oil to the refinery and to build a
gathering pipeline to the Refinery plant inlet.
(6) The Company has entered into confidential discussions with
investment banks to become the financial advisor for raising the
debt and equity for the Project.
There can be no assurance that the Company will be successful in
its efforts to complete any or all of these engagements.
The following constitutes a “Safe Harbor” statement
under the Private Securities Litigation Reform Act of
1995: Except for the historical information contained
herein, the matters discussed in this report are forward-looking
statements that involve risks and uncertainties, which could
cause our actual results to differ materially from those
described in the forward looking statements. These risks include
but are not limited to the Companys ability to continue as a
going concern, our lack of revenues, general business conditions,
the requirement to obtain significant financing to pursue our
business plan, our history of operating losses and other risks
detailed from time to time in the Company’s SEC reports. In
particular, readers should note MMEX undertakes no obligation to
update forward-looking statements.
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About MMEX RESOURCES CORPORATION (OTCMKTS:MMEX)
MMEX Resources Corporation, formerly MMEX Mining Corporation, is an oil and gas company. The Company is involved in the evaluation, acquisition and development of oil and gas, refining, power generation, natural gas transmission and processing energy projects in the western United States and Latin America. The Company is involved in the natural resource project development and project financing in North and South America, and the United Kingdom. The Company was engaged in the exploration, extraction and distribution of coal. MMEX RESOURCES CORPORATION (OTCMKTS:MMEX) Recent Trading Information
MMEX RESOURCES CORPORATION (OTCMKTS:MMEX) closed its last trading session down -0.0003 at 0.0132 with shares trading hands.