ICVI (now MTEI) Message Board

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Microcap & Penny Stocks : ICVI (now MTEI)

MTEI 0.00470

+95.8%

Oct 31 3:03 PM EST

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To: DavidCG who wrote (11217)	6/10/1998 11:53:00 AM
From: eric deaver	Read Replies (3) of 11850

David, Several years ago, I sat in the environmental committee of the West Virginia Oil & Natural Gas Association (WVONGA) with several VPs from the "independents" in WV. I can tell you that in WV, the problem is not drilling new wells its getting the oil out of the existing wells. Now the majors have mostly pulled out of WV but the independents (at least when I worked there) are doing a fine business. With a lower overhead, they can afford to go after reserves that the majors left behind. The oil is there but the margins are too low for the majors. So to answer your question, yes a drop in oil price will hurt ME's margins but will not stop operations. Also you may want to focus on natural gas and coal prices as well. I think we will find that coal and natural gas reserves will dwarf oil reserves in the WV fields. FWIW, Eric

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