ICVI (now MTEI) Message Board

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Microcap & Penny Stocks : ICVI (now MTEI)

MTEI 0.00240

0.0%

Nov 3 10:00 AM EST

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To: Trooper who wrote (418)	5/19/1998 11:02:00 AM
From: eric deaver	Read Replies (2) of 11850

Here is what I got from my discussions w/ Joe yesterday after the bell. Please take it with the usual grain of salt. Joe told me yesterday that Mountain Energy was not yet formed but would be after this merger. Yes they are replacing ICVI management with their own. Total shares outstanding 65MM - 9MM float!! - this was my understanding but he was talking fast. Some two other companies ultimately involved bringing book somewhere near $ 500MM. Initially will have $ 200MM in O&G reserves - buyer is some well known oil guy in Houston (HQ of course will be there). That's all I could get from Joe at that time. Here is some speculation on my part. If using ICVI as shell every share in ICVI will convert to 1 share Mountain Energy. What happens to ICVI shares in transition if other owner/companies are publically held? I honestly do not know this answer. Using these figures I calculate a share price at 1X book at $ 3.00 - $7.00 / share. Question aren't there other companies trade well below book? If so, what are ME's chances of trading at 1X book or higher? Let's get serious here. We are apparently looking at some serious dollars. Eric

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