MMEX Resources Corporation - MMEX stock
OTC Symbol: MMEX | OTC Tier: Pink Current
About[edit]
MMEX Resources Corporation (OTC: MMEX) is a development stage company engaged in the exploration and development of oil, gas, and other energy-related assets in the United States. The company was founded in 2005 and is headquartered in Fort Stockton, Texas.[1]
Reverse Split[edit]
On June 7, 2021, the company performed 1 for 10,000 reverse stock split of common shares. The move was approved by the holders of a majority of the outstanding shares without a sharenholder meeting taking place.[2]
Projects[edit]
Pecos Refinery[edit]
MMEX's primary focus is on developing a 10,000 barrel per day (BPD) crude oil refinery in Pecos County, Texas. The project, called the MMEX Pecos Refinery, is expected to cost approximately $450 million and will be designed to process West Texas Intermediate (WTI) crude oil. The refinery is also expected to produce a range of refined products, including diesel, gasoline, and jet fuel.[1]
Exploration[edit]
In addition to the refinery project, MMEX is also engaged in the exploration and development of oil and gas properties in Texas. The company has acquired several leases and has conducted drilling and testing on these properties.[1]
Conclusion[edit]
MMEX has faced some challenges in recent years, including financial difficulties and delays in the development of the refinery project. However, the company has continued to move forward with its plans and has secured financing and partnerships to help fund the development of the refinery. Overall, MMEX is focused on developing energy-related assets in the United States, with a particular emphasis on the production and refining of crude oil. The company is still in the early stages of development and its projects are not yet operational, but it has demonstrated a commitment to advancing its plans and has generated interest from investors and the energy industry.[1]
- ↑ 1.0 1.1 1.2 1.3 MMEX Resources Corporation. Official website. Retrieved on 4/9/2023.
- ↑ SEC.report
