---NEWS FOR MTEI-CONVERSATION WITH JACK USELTON-----
I spoke with Jack Tuesday afternoon for about 35 minutes. The
purpose of the call was not to get too in depth since we could
do that next week at their offices. I wanted to get a general
idea of where the company was and what was in the works.
Teresa answered the phone. She is Jack's new assistant. She just
started on Monday, July 6th. She is very pleasant and enjoys it
so far. Jack is excited to have her as an assistant.
They've got more than 60 properties now in WV. Most, if not all
of these properties make up the acreage that we already know about.
MTEI has won the bid on more properties, but will not release any
information on those until the deeds are cleared. Great deals.
He expects and wants MTEI to be a billion dollar company before
he retires in 5-6 years. He thinks it will take less time.
He has always wanted to be the CEO of a billion dollar company.
They are actively looking at properties in West Virginia, Texas,
Oklahoma, Wyoming, Pennsylvania, Kentucky, and one other I forgot
to write down. Those are just the ones he ratlled off.
He's still very excited about Richard, their imaging guy. Richard
graduated Magna Cum Laude from Rice while working his way through
college. Richard worked for Exxon and Amoco, two of the largest
oil and gas companies in the world. Richard wrote a software
package that would tie in infrared imaging, magnetic resonance
imaging, and seismographic data together.
Jack Uselton is the IR guy right now. He did not say when the
next press release would come out, but suggested that some of
the initial Stagg reports would be in the next one.
Stagg has completed the coal figures on several properties
and are working on the oil and gas figures. Notice: that's
oil AND gas.
Another acquistion was talked about. This one has 13 million
barrels of oil left in the ground that Jack estimates they can
extract approximately 60-80% using new technology. He said
current talks have been favorable. No time frame was given
and nothing is final until it's final.
If you're not long on MTEI, you don't know Jack!
Uselton that is.
Have a profitable day,
Tod |
