MTEI - Mountain Energy - No BASHING Allowed Message Board

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Microcap & Penny Stocks : MTEI - Mountain Energy - No BASHING Allowed

MTEI 0.00400

-14.9%

Nov 18 9:31 AM EST

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To: DG Cruise who wrote (3075)	6/23/1998 11:55:00 AM
From: Janice Shell	Read Replies (3) of 11684

What is your take on MTEI? It's been said that MTEI has, or should have, a book value of at least $2.85. If this is indeed true, then the stock is grossly undervalued at 46 cents, and would be a potentially attractive investment. But...while the market is sometimes wrong about valuations, it's rarely so very wrong, and usually corrects itself pretty quickly. The market still perceives MTEI as a fifty cent stock. Why? These are my own concerns: 1. The confusion about how much land the company currently owns in West Virginia. First 2000 acres, then 20,000. Makes a difference. 2. My own perplexity about what the company sees as the scope of its business. In the most recent press release they say: MTEI sees an opportunity to attain growth and increase shareholder value through strategic acquisitions of proven oil, gas and coal properties located in the Appalachian area and oil and gas properties in the Mid-Continental and Southwest regions and along the Texas and Louisiana Gulf Coast onshore and in shallow water up to 50-feet deep. Does the company plan to exploit these properties, or merely to lease them? This make a big difference to the potential bottom line. 3. What is the source of their financing? Their plans are ambitious, and their realization won't come cheaply. Most companies are more than pleased--they're even extremely eager--to tell the world about financing arrangements. Such announcements tend to be good for stock price. A number of contributors to this thread say that this is all taken care of, but if that's the case, why is management apparently reluctant to make a public statement about it? All companies have a business plan. I'd like to hear more about MTEI's.

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