Austin oilman takes financial first steps toward building $450M West Texas refinery

A company seeking to build a refinery near the Permian Basin town of Pecos is taking financial steps to move the project forward.
In a filing with the U.S. Securities and Exchange Commission, MMEX Resources Corp. (OTCPK: MMEX) reported a stock deal that is being touted as a solid step forward for the project.
MMEX Resources CEO Jack Hanks of Austin reported in the SEC filing that MMEX will issue up to 7 billion shares of stock to buy the rights to the refinery from its privately held sister company…

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