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Microcap & Penny Stocks : MTEI - Mountain Energy - No BASHING Allowed
MTEI 0.00360-20.0%Jan 26 12:07 PM EST
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To: V$gas.Com who wrote (5626)7/21/1998 1:10:00 PM
From: jhild  Read Replies (2) of 11684
 
Ok, Bob, here's a question that I have trouble understanding here. I understand from comments that MTEI has no interest in developing any of the coal reserves themselves. Presumably they are most interested in the gas reserves. From the header here of this thread:

The U.S.G.S. estimates also indicate in excess of 2 billion cubic feet of coal methane gas. This gas currently sells in excess of $3.00/MCF 1000 cubic feet. In most cases this gas is subject to an alternate fuel tax credit in excess of $3 MCF, for an estimated value of $5/MCF valued at $10,000,000.

Overlooking for a moment the lower estimate of current prices for this gas given recently and even accepting that they could even net the $10M, that seems to provide only a base benefit to the bottom line of $10M spread over the next several years.

It seems that if they are not going to develop the coal themselves, they would at best be getting just a portion of the profits that a coal production concern could generate. This kind of revenue spread over 70M shares, and several years, looks a little thin. Or do you see more revenue opportunities? Deals being offered to them every day generally means that they have to pay something to get something, so where is that money coming from or is it coming from new shares being issued? I believe someone said they don't have a lot of cash.
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