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Microcap & Penny Stocks : MTEI - Mountain Energy - No BASHING Allowed
MTEI 0.004700.0%Nov 28 9:30 AM EST
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To: eric deaver who wrote (2894)6/22/1998 3:02:00 PM
From: jhild  Read Replies (2) of 11684
 
Curious don't you think Eric that the primary deposit that has been discussed as having potential was the coal. So if that is only worth say 4&cent's a share, what kind of contribution are you expecting from the other resources like oil and gas? I mean the gas reserve potential, even as quoted by the USGS and then aggressively valued complete with government incentives is not over $10M. (Personally I have serious doubts about the value of even that, but for argument sake go with the company number.) So what does that make it?

16&cent's + 4&cent's = 20&cent's

Oh so, oil you say. Well those wells in West Virginia aren't bringing in that much. How many wells you figure will they need to do even a $1M/year?

No matter how you cut this one up, this company needs capital, just to stand in place. Where is that coming from? Where is their cash flow? What can they use to support the necessary debt load to exploit?

Failing all that if they are going to have other people do it for them and just collect royalties, then what do you think that is going to do to the numbers? Other companies will surely expect to make a profit after paying royalties. The pie is only so big.
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