Mirage Energy Corporation Update

Mirage Energy Corporation

Industry:
Oil, Gas & Energy

Mirage Energy Corporation Update

SAN ANTONIO, TX / ACCESSWIRE / July 18, 2017 / Mirage Energy Corporation (OTC PINK: MRGE) is proud to give an update on the progress of moving Mirage Energy Corporation business plan forward in the natural gas pipeline and storage business. The company intends to develop an integrated pipeline and natural gas storage facility in Mexico and the United States. The company and its wholly owned subsidiaries are in the process of applying for and obtaining the necessary permits in Mexico and the United States.

This Infrastructure Project Consists of the Following Components:

MEXICO PIPELINES:

PROPOSED PROGRESO PIPELINE: This system includes 27 miles of 36" diameter pipe operated by WPF MEXICO PIPELINES, S. de R.L. de C.V. This pipeline has the capacity to move 500 million cubic feet per day to compressor stations or Mexico end-user markets. All engineering and detail work has been completed utilizing our project engineering firm, PROJECT CONSULTING SERVICES, and our Mexico construction company, ARENDAL.

PROPOSED ARGUELLES PIPELINE: This system consists of 84 miles of 36" diameter pipeline operated by WPF MEXICO PIPELINES, S. de R.L. de C.V. This pipeline also has the capacity to move 500 million cubic feet per day to compressor stations or Mexico end-user markets. All engineering and detail work has been completed utilizing our project engineering firm, PROJECT CONSULTING SERVICES, and our Mexico construction company, ARENDAL.

MEXICO UNDERGROUND NATURAL GAS STORAGE:

PROPOSED NATURAL GAS STORAGE: This facility is to be the first underground storage facility in the country of Mexico. This storage will allow the country of Mexico to balance peak loads by consumers, as well as the ability to play price arbitrage on natural gas. Additionally, Mexico will be able to create a Natural Gas Hub for pricing rather than having to buy natural gas on spot market. This facility is a depleted natural gas reservoir with the ability to store 786 BCF (Billion Cubic Feet) of natural gas. When fully developed, this storage will give the country a secure natural gas supply for one year in the event all gas supplies were shut off for any reason.

This storage facility will have 70,000 BHP of compression with 14 compressors for injection of gas into the reservoir. CENOTE ENERGY, S. de R.L. de C.V., a subsidiary of MIRAGE ENERGY, will own and operate this facility. All of the reservoir engineering and storage modeling has been completed. Additionally, HUASTECA has been engaged to plug and abandon all of the old wells in the field and drill new injector/extractor wells.

INTERNATIONAL PIPELINE CROSSINGS:

PROPOSED PROGRESO CROSSING: This crossing includes the Presidential Permit for boring underneath the Rio Grande River. It will be permitted as a 52-inch boring with 36-inch pipe running underneath the river. WPF TRANSMISSION, INC. will own the pipe on the U.S. side of the river. WPF MEXICO PIPELINES, S. de R.L. de C.V., will own the pipe on the Mexico side of the river. All engineering and detail work has been completed utilizing our project engineering firm, PROJECT CONSULTING SERVICES.

PROPOSED ARGUELLES CROSSING: This crossing includes a second Presidential Permit for boring underneath the Rio Grand River. It will also be permitted as a 52-inch boring with 36-inch pipe running underneath the river. WPF TRANSMISSION, INC. will own the pipe on the U.S. side of the river. WPF MEXICO PIPELINES, S. de R.L. de C.V., will own the pipe on the Mexico side of the river. All engineering and detail work has been completed utilizing our project engineering firm, PROJECT CONSULTING SERVICES.

UNITED STATES PIPELINES:

PROPOSED CONCHO: This system includes 95 miles 36-inch diameter pipeline with the capacity of transporting 500MMCFPD. It will be owned and operated by WPF TRANSMISSION, INC. All engineering and detail work has been completed utilizing our project engineering firm, PROJECT CONSULTING SERVICES.

PROPOSED COCHISE: This system consists of 68 miles of 36-inch pipeline with the capacity of transporting 500MMCFPD. WPF TRANSMISSION, INC. will own and operate this pipeline system. All engineering and detail work has been completed utilizing our project engineering firm, PROJECT CONSULTING SERVICES

FORWARD-LOOKING STATEMENTS:

This press release contains forward-looking statements. These statements relate to future events or our future financial performance. We intend that such forward-looking statements be subject to the safe harbors for such statements. We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Any forward-looking statements represent management’s best judgment as to what may occur in the future. However, forward-looking statements are subject to risk, uncertainties and important factors beyond our control that could cause actual results and events to differ materially from historical results of operations and events and those presently anticipated or projected.

SOURCE: Mirage Energy Corporation