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Microcap & Penny Stocks : MTEI - Mountain Energy - No BASHING Allowed
MTEI 0.002400.0%Nov 3 10:00 AM EST
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To: Turboe who wrote (5288)7/15/1998 10:23:00 AM
From: Tom C.  Read Replies (1) of 11684
 
MTEI Question and Answer

Q: What prior experience do they have pertaining to coal extraction or are they going to contract out the coal business?

A: "Our original association with the coal industry stemmed from our desire to extract methane annd market it. Once that enterprise has been exploited, we will have the remaining asset of millions of tons of, apparently, high-grade coal. We intend to produce a profit from that asset. But, beyond a doubt, we are hard core oilmen, and will direct the greater share of our efforts toward the industry that we are expert in."

My comments from the meeting: By taking the gas first (coal-bed methane is embedded in the coal) they can ultimately extract value from both assets, but it would not work in reverse. Of the three assets, four if you count deeper, non-coal-bed methane, the coal-bed methane is the cheapest and quickest to exploit. As Turboe noted, these beds start at 250 feet and can be drilled with a high probability of successful completion. The price and demand for gas is high now, and again, they have pipelines already running across some of the properties. So it makes sense to me that this is the quickest method to getting some cash flow going.
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