MWXI - Mountains West Exploration, Inc. Message Board

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Gold/Mining/Energy : MWXI - Mountains West Exploration, Inc.

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From: jmhollen	8/7/2005 5:21:11 PM
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Form 8-K for MOUNTAINS WEST EXPLORATION INC 7-Jul-2005 Non Reliance on Prev Financials, Audits or Interim Review, Amendme ITEM 4.02 NON-RELIANCE ON PREVIOUSLY ISSUED FINANCIAL STATEMENTS OR A RELATED AUDIT REPORT OR COMPLETED INTERIM REVIEW. SECTION 5 - CORPORATE GOVERNANCE AND MANAGEMENT ITEM 5.05 AMENDMENTS TO THE REGISTRANT'S CODE OF ETHICS, OR WAIVER OF A PROVISION OF THE CODE OF ETHICS. SECTION 6 - [RESERVED] SECTION 7 - REGULATION FD ITEM 8.01 OTHER EVENTS. Due to the unitization of the Company's fractional interests in wells into the Spanish Peaks Federal unit by the operator, which resulted in a revenue back charge estimated at $40,000 for overpayment of revenues, and the anticipation of future charges to revenues for development and workover, the Company has assigned its interest in the Nichols Lease and its .0007757% non-operating interest in the Spanish Peaks unit to a non-affiliate in consideration for the assumption of all of the revenue back charges and future assessments. Dated June 30, 2005 Mountains West Exploration, Inc. By:/s/Denis R. Iler, President SECTION 9 - FINANCIAL STATEMENTS AND EXHIBITS .

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