FORT STOCKTON, Texas, July 9, 2018 /PRNewswire/ --
MMEX Resources Corp. (OTCPK:
MMEX), a development-stage company focusing on the acquisition, development and financing of oil, gas, refining and
infrastructure projects in Texas and South America, today
announced it intends to develop a solar power project to provide electric power to its planned 10,000 barrel-per-day (BPD) crude
distillation unit and its full-scale crude oil refinery in Pecos County near Fort Stockton, Texas.
Jack W. Hanks, President and CEO of MMEX Resources Corp., said, "We are pleased to announce an
add-on of solar power to our business plan. We have formed MMEX Solar Resources, LLC and filed the trademark (above) to develop a
solar power project to potentially supply solar power renewable energy to our refinery projects in Phases 1 and 2. We already own
126 acres in our site, and with an approximate industry configuration of four acres to build out one megawatt (MW) of solar
power, we have ample space to start an initial solar phase alongside of our CDU Phases 1(a) and (b) construction. In addition, we
have entered into preliminary discussions to lease additional acreage allowing us to develop an additional 75 MW to 100 MW of
solar power. Our planned refinery complex will utilize about two MW of power in Phase1(a) and (b) and about 35-50 MW in Phase 2.
We believe the remainder of the power can be sold into the grid."
Hanks added that Pecos County, Texas and the Permian Basin, generally, have
great metrics for solar power, noting that other firms are also focusing on solar power in West Texas.
A recent announcement from the LCRA-AEP Texas has been made for upgrading transmission capabilities in Pecos County. On June 25, 2018, the companies announced to landowners:
"The transmission utilities are proposing to build and operate a new double-circuit
345-kilovolt (kV) electric transmission line in Pecos County due to increasing generation
interconnection requests and growth in electrical demand by the oil and gas industry in the Far West Texas area. The new
transmission line will connect AEP Texas existing Solstice Substation to LCRA TSC's existing Bakersfield Substation in order to
strengthen the ability of the electric grid to reliably deliver electricity to oil and gas production and processing in the Far
West Texas area along with other expanding commercial and residential needs. The proposed transmission line will also provide
additional capacity for renewable power generation resources in Pecos County and the surrounding
area. LCRA TSC will construct, own and operate the eastern half of the transmission line and AEP Texas will construct, own and
operate the western half of the transmission line."
About MMEX Resources Corp.
MMEX Resources Corporation (MMEX) is a development stage company formed to engage in the exploration, extraction,
refining and distribution of oil, gas, petroleum products and electric power. MMEX focuses on the acquisition, development and
financing of oil, gas, refining and electric power projects in Texas, Peru, and other countries in Latin America. For more information about
MMEX, visit www.mmexresources.com .
Media Inquiries
For MMEX Resources:
Adriana Lopez
Account Executive
Paige PR 713.320.8353
www.paigepr.com
MMEX Investor Inquiries
MMEX Investor Relations
1.855.880.0400 investorrelations@mmexresources.com
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 press release 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 Company's 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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SOURCE MMEX Resources Corp.