Mirage Energy Corp (OTCMKTS: MRGE) is one of the most exciting stories in small caps that has been on an aggressive rise in recent months running from well under $0.05 to recent highs over $0.40. MRGE is quickly attracting legions of new shareholders that continue to bid the stock higher.
MRGE started running in June after the Company reported it had signed a $4 Billion Debt Financing With Bluebell International, LLC for Development of Three Projects Including Pipelines, Natural Gas Storage and Isthmus Corridor Project. MRGE has an agreement in place to import natural gas from Texas to Mexico. addition, there is the possibility of creating a crude and natural gas market in the new Transisthmic project that will go from Salina Cruz to Coatzacoalcos. According to Zárate, the natural gas project is supervised by the Mexican government and Alfonso Romo, Head of the Presidential Office.
Mirage Energy Corp (OTCMKTS: MRGE) is a natural gas storage and international transportation company based in San Antonio, Texas. Through its wholly owned subsidiaries, Northern Hemisphere Logistics, Inc., WPF Transmission, Inc., WPF Mexico Pipelines and Cenote Energy, Mirage is developing an integrated pipeline infrastructure in and between Mexico and the U.S. and North America’s largest natural gas storage facility, located in Mexico. Mirage is proposing to develop the Concho-Progreso Pipeline connecting South Texas and Mexico via it proposed Progreso International crossing under the Rio Grande River. All of the pipelines are being revised upward from 36 to 42 inch diameter pipe. The total length of the Concho-Progreso pipeline is estimated to be 250 miles.
In addition to the proposed pipelines and international crossing, the Company proposes to develop the Campo Brasil natural gas storage reservoir. Presently, the Campo Brasil is a depleted natural gas reservoir field. Mirage nominated this field in the inaugural tender for Mexico’s strategic reserve on July 25, 2018. This field is located approximately 14 miles from the proposed Progreso Line. This field was not selected by Cenegas during the first selection process. Cenegas has indicated that Mexico intends to develop natural gas storage in the North, Central and Southern regions of Mexico. The Company believes that the Brasil field is the most suitable candidate for development in Northern Mexico.
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On August 27 MRGE signed a letter of intent (LOI) to provide 200 Million cubic feet per day (MMcf/d) of natural gas to J&E administration Integral, S. de. L. de C.V. (J & E), which is developing a natural gas transportation system in the Mexican states of Oaxaca and Chiapas. Mirage Energy is planning to rehabilitate the San Fernando/Cactus Line, map shown here, as part of its large-scale cross-border natural gas infrastructure project. The new transportation system on the west coast of southern Mexico will be interconnected via the San Fernando/Cactus Line, which Mirage is planning to rehabilitate as part of its large-scale cross-border infrastructure project funded by a binding $4 Billion financing agreement with Bluebell International, announced in June.
Mirage Energy CEO Michael Ward commented: “We are proud to partner with J&E on this important project, which will enable the delivery of clean, efficient natural gas to the energy-starved states of Oaxaca and Chiapas, likely at a 50% discount to current prices,” Separately, Ward added that Mirage has officially converted and repaid all notes related to the business.
Mexico Will Access Natural Gas From Texas at No Additional Costhttps://t.co/I208xF10Sl$MRGE.39 Mirage Energy Corporation will provide the capital and technical equipment to export to Mexico what is considered to be the cheapest natural gas in the world. https://t.co/6ZKRb3x1cF
— Rigatoni (@rigatoni33) October 26, 2020
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Currently running northbound MRGE is an exciting story developing in small caps; the stock started running in June after the Company reported it had signed a $4 Billion Debt Financing With Bluebell International, LLC for Development of Three Projects Including Pipelines, Natural Gas Storage and Isthmus Corridor Project. MRGE has an agreement in place to import natural gas from Texas to Mexico. addition, there is the possibility of creating a crude and natural gas market in the new Transisthmic project that will go from Salina Cruz to Coatzacoalcos. According to Zárate, the natural gas project is supervised by the Mexican government and Alfonso Romo, Head of the Presidential Office. We will be updating on MRGE when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with MRGE.
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Disclosure: we hold no position in MRGE either long or short and we have not been compensated for this article.