MORE FROM JACK USELTON
You can all read this morning's news for yourselves, so I will just mention about my conversaton with Jack Uselton last night.
Once again he came across as a very competent, experienced, gas and oil executive. I will not repeat his background, etc, since I have posted this before and you can read the news releases.
I will just give you some updates from his conversation. By the way, he told me nothing about what was in the release this morning, not even that it was coming out, which also reassured me that he knows when to talk and when not to talk. Now about the updates:
They are busy installing phones and getting their new office set up. They plan to be in there next Monday, but will understandibly take some time to get it in top shape. You know, nice chairs, coffepot, etc. :-)
They have applied for MTEI as their symbol, but it will take 2-3 weeks for all the paperwork to go through, so don't expect the name change until then.
They are actively pursuing other holdings not only in West Virginia but in other states as well, including Texas and Louisiana. No details, nor do we know if they will be succesful, but I have a feeling that he is going to get a whole lot more than he has now, and we will know it when he is ready to tell us.
He hopes to go NASDAQ within a year, and is well aware of the filing requirements and the stock price needed ($4 for 30 days is my understanding). He is even looking beyond NASDAQ, long term.
He has had a lot of calls from SI people (I can well understand that), and wants everyone to know that he is not interested in any day traders or hypesters. He is building this company for his grandkids, and likes the fact that we are INVESTORS, not TRADERS.
That's about it, but I still want to emphasize that as promising as this new conmpany is, it is still a speculative play as far as I am concerned. I bought on fundamentals and will hold or accumulate as long as those fundamentals remain -- and right now they are looking better all the time. However, if the fundamentals change I will readjust my holding apprrpriately, and share whatever I know with whoever wants to listen. As always, do your own DD, do not just go by what I or anyone else says, check out the company, and watch out for pumpers and dumpers, hypesters, or day traders. They may make the price go up and down on an hourly basis, but if you are a long term investor you should not be worried about this. |
