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

To: Blitz who wrote (3243)	6/24/1998 9:48:00 AM
From: OFW	Read Replies (2) \| Respond to of 11684

HOUSTON--(BUSINESS WIRE)--June 24, 1998--Mountain Energy Inc., traded under the symbol (OTCBB:MTEI), Wednesday announced the addition to their management team of Richard Hibbard, an exploration geologist and Aubrey (Earl) Irby Jr., petroleum landman. Hibbard received his B.A. Geology from Rice University and M.S. Physical Science-Geology & Remote Sensing/Planetary Science from the University of Houston. Hibbard's 24 year career in geological work includes such prestigious companies as Exxon Exploration Co., Marathon Oil Co., Amoco Production Co., and Kerr-McGee Corp. Irby brings over 15 years of oil and gas experience to MTEI. Irby is a member of the American Association of Petroleum Landman, the East Texas Association of Petroleum Landman, and the West Houston Association of Petroleum Landman. Irby's experience as a landman includes research to determine surface and royalty ownership; negotiation of terms for oil; gas and mineral leases; title curative; supervise lease checks; purchase right of way; interpretation of aerial photographs and contour maps; and obtaining permits for a 3-D Seismic tests. The MTEI management team consists of personnel with no previous or current affiliation to the former company ICVI. MTEI wishes to correct and clarify a previous release dated June 18 in regard to a typographical error stating 20,000 acres owned and referencing an additional 8,000 acres being purchased. As of this date, Mountain Energy has purchased and accepted the deed to numerous properties in West Virginia totaling more than 5,000 acres. In addition MTEI has a letter of intent with Pacific Tax Properties to purchase an additional 8,000 acres, plus or minus, pending the evaluation results of a study presently being done by Stagg Engineering Company and the geological and engineering staffs of MTEI. Providing verification of product in place and on completion and receipt of reserve studies, MTEI will then select specific properties we wish to acquire and negotiate the acquisition. Mountain Energy's strategy is to select and purchase only the properties determined by the above referenced studies that have the most potential to economically and profitably produce oil, gas, coal, or a combination thereof. MTEI is constantly keeping in mind the need to build a very strong property asset base prior to the beginning of the development and production of the selected properties. In addition to the West Virginia properties, our staff is currently studying oil and gas properties in Texas, Oklahoma and Wyoming. Upon the completion of the study and selection of the properties that meet the parameters defined above, Mountain Energy will begin negotiations and attempt to acquire those properties that will most benefit the company and our shareholders. Statements in this news release may contain forward-looking information within the meaning of Section 27A of the U.S. Securities Act of 1993 and Section 21E of the Securities and Exchange Act of 1934 and is subject to the safe harbor created by those sections. All statements, other than statements of historical fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of MTEI are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. MTEI assume no obligation to update information contained in this release. CONTACT: Mountain Energy Inc. 713/334-4111 Fax: 713/334-4666

To: Blitz who wrote (3243)	6/24/1998 9:50:00 AM
From: sandstuff	Respond to of 11684

And let's not forget the 10,000,000 tons is potentially a low number. It could be only 40% of actually number (per press release)which means it might be 20,000,000+ tons. We'll just have to wait for those Stagg numbers come in...

To: Blitz who wrote (3243)	6/24/1998 9:59:00 AM
From: eric deaver	Read Replies (3) \| Respond to of 11684

Review for the newbies - and not bad for the oldbies either- It has been suggested that MTEIs properties have little producable quantities of oil, gas or coal. I am here to tell you that any person who suggests this is misleading you. The fact of the matter is that no one (NOT EVEN MTEI) KNOWS what the size of the "proved reserve - under EIA-23" will be after Stagg is done. off-subject a little here - if you have not yet read it go read Estimation of Reserves & Resources - provided yesterday. I would like to start using some of these industry terms in our discussions. Also it will leave the bashers behind as they will not do any DD. - Back on subject. For every negative innuendo, I have posted real data that suggests that at least in the counties in which we know properties are located (i.e., Raliegh, Lincoln, Kanawha, etc) there is a great deal of oil/gas and coal in very producable quantities. Additionally, while it is very true that the majors have for a large part pulled out of WV, it is also true that they have pulled out of the whole lower 48 for a large part. Additionally, it is a known and well documented FACT that as the majors pulled out, independent (such as the folk at MTEI) have pulled in and picked up production - profitably. This is particularly true in WV. Bottomline is that far from suggesting that these properties are worthless, the known data SUGGESTS just the opposite. Are there unknowns - wouldn't be a PENNY STOCK without unknowns. But once again the cards are IMO stacked in our favor. FWIW, I still like the concept of averaging down and like the BIG negative response the idea got last night. Kind of proves my point. Will post some more DD today and will re-post some of the supporting links for the issues raised above. Keep the faith and let this baby develop. I know I won't be disappointed. Eric