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Microcap & Penny Stocks : MTEI - Mountain Energy - No BASHING Allowed -- Ignore unavailable to you. Want to Upgrade?

To: Shaun who wrote (1388)	6/16/1998 10:07:00 AM
From: Tod C	Read Replies (1) \| Respond to of 11684

Good point Shaun. Let's run the numbers again. Start with the $2.85 book value stated in the press release which does not factor in any other resource exploitation other than coal and natural gas. No oil, no lumber, no precious gems, no ?. At a 25% of USGS underestimate, this would give us a new book value of $3.56. For Oil and Gas concerns not showing a profit, industry averages indicate a price to book multiplier of 1.5 (3 x for profitable companies). Let's be conservative and not even factor this in. Now add in the 8000 acres, which is a little over 3 times the size of the 2600 acres. Let's round down to 3. Assuming that similar coal and gas reserves are within the 8000 acres and not factoring in any other exploitation, we have $3.56 * 3 or a new book value of more than $10 based on coal and gas alone in the West Virginia properties. Now, back in Lee's example of waiting 5 1/2 years for an 800% gain. IMO, MTEI's gain will be larger than that. Check out AMEX:TMG, they successfuly did what MTEI is wanting to do - .50 to $15. Tod