Everyone! Stay focused!!!!!
Collected Information/Opinions/DD on ICVI/Mountian Energy:
ICVI (International Casino Cruises, Inc.) has acquired 100% of Mountain Energy, an "oil
and gas concern based in Houston, Texas", per press release dated 6:04 A.M. EST on
Thursday, May 21.
The aquisition "will be paid with 50,000,000 restricted common shares only".
"Mountain Energy owns and controls the mineral rights in West Virginia that contain
approximately 1.98 billion cubic feet of gas and 10,000,000 tons of coal, as well as other
properties that all combined, have an estimated fair market value in excess of
$200,000,000 with approximately 70,000,000 shares outstanding after the acquisition. This
translates to approximately $2.85 per
share."
"The paperwork will be filed immediately to change the corporate name to Mountain
Energy, Inc. Mr. Jack Uselton has been named Chairman and Chief Executive Officer."
Jack Uselton is the head of Mountain Energy. His team has over 200 years of experience.
He has 40 years of experience himself, and loves his work. He said to one SI poster who
talked to him on the phone: "There are other major groups who really like me." His
acquisitions guy was VP at the largest bank in Houston, his geologist is very senior and has
spent his whole life doing geology, and his management team is composed of business
people he knows and trusts. He will not bring in anyone without a great deal of experience,
and he
knows what he is doing. He used to run an energy consulting firm.
ICVI management will resign, as Mountain Energy management will take their places.
As far as the valuation of Mountain Energy's assets goes, "this is just the tip of the iceberg".
They have several hundred thousands of other acreage that is not in the current valuation of
$200 million in assets. Also, they are in the process of adding electricity to their available
assets. This company is also in the process of acquiring other assets. One SI poster has
been told that they will be a half billion dollar company within 5 years, and a billion dollar
company within 3-5 years. According to Joe Gort, the ICVI PR guy, Mountain Energy's
mineral reserves have been audited and verified by the U.S. Geological Survey. They have
more assets that are under test yet that could be worth an additional $250 million or so.
Mountain Energy is in an industry where the price-to-book is around 1.5x, which could
easily value the stock at $4.27 ($2.85 x 1.5). This figure does not include other properties
that haven't been announced yet that still are under test. It also doesn't include mergers and
aquisitions that may be done to get the stock price up high enough to get a NASDAQ
listing. The new company could easily be worth $5-$10 a share. Book value is actually
much higher than $2.85,
due to considerable land they own that hasn't been added into the equation yet.
The new company's phone number is (713)-334-4111, and address is Mountain Energy,
7700 San Felipe Suite 480, Houston, TX, 77063. They will be in this new office starting
June 1.
More aquisitions announcements within the next 30-40 days. For those wondering about
the value of the land ownings, there will be reports on it released in 60 days or so, 90 at
most.
The 50 million restricted shares will not be sold ... not in Mr. Uselton's time. There are
about 18 million shares outstanding, about 13 million of which are in the float.
Lastly ... One of the SI lurkers sent this to Bill L:
"I am in the oil & gas business in Houston. Reverse mergers are good.
Transmontaigne, (AMEX Sym: TMG) went from .50 to $17.00 on a reverse merger.
Scheffield Exploration was the name of the shell and now the company is called
Transmontaigne. Make sure the investors understand that ICVI does not exist anymore.
ME [Mountain Energy] does exist and could very possibly get a big board listing with the
assets they are touting. If they get the big board listing, a nice surprise for the investors.
We're talking $15.00 to $20.00 a share. If we really have the control of 4,000,000 shares+
of the stock, we control this value. The investors must hold on. You're talking a lot of
millionaires here.
Regards,
Bob Ulrich
MTEI "MOUNTAIN ENERGY GENERAL OVERVIEW" from Tod C
Corporate Information
Ticker Symbol: MTEI (OTCBB)
Mountain Energy Inc.
7700 San Felipe, Suite 480
Houston, Texas 77063
(713) 334-4111
Jack Uselton -- Chairman and Chief Executive Officer
R. David White -- Vice-President, Director and General Counsel
Winston Overstreet -- Vice-President of Operations
Quentin Moore -- Vice-President of Exploration
Management team has more than 200+ years of experience.
Investor Relations contact
George Guttman, 212/293-9034 or 718/951-0260
===============================================================
Brief Summary
Mountain Energy Inc. is in the business of acquiring primary
producing reserves along with the development and production
of passed over developed domestic oil and gas reserves
utilizing modern technology to find and enhance production.
Mountain currently owns 30 separate properties in West Virginia
with approximately 1,300 acres owned in fee and an additional
1,300 acres of mineral rights. Reserve estimates by the U.S.
Geological Survey (''U.S.G.S.'') indicate in excess 10,000,000
tons bituminous coal. This low sulfur, low ash content, high
BTU, clean burning currently sells for $25-$28 per ton. With
cost of mining and transportation estimated at $11-$15 per
ton, this will show a $10 per ton conservative net profit,
(representing maximum cost to mine and minimum selling price),
providing net asset value in excess of $100,000,000, with a
potential of $170,000,000. 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. This translates to approximately $2.85 per share.
History indicates that U.S.G.S. estimates usually represent 25
percent to 40 percent of actual minerals in place.
Mountain Energy has received acceptance on its purchase offer
to acquire an additional 8,000 acres of mineral reserves in
Lincoln and Raleigh counties in West Virginia. (Use the
numbers from the preceding paragraph to extrapolate the value
of 8000 West Virginia acres.)
===============================================================
SHARE INFORMATION
TOTAL SHARES AUTHORIZED: 70 Million
RESTRICTED SHARES: 50 Million
SHARES OUTSTANDING: Apx 20 Million
SHARES IN THE FLOAT: Apx 14 Million
===============================================================
DD summary
Message 4810635
Mountain Energy Info Thread - Nice summary in header
Subject 21194
Recent Press Releases
06/08/98 Message 4780025
05/29/98 Message 4623154
05/21/98 Message 4814082
Old ICVI Thread (ME acquired ICVI through a reverse merger)
techstocks.com
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OTC:BB Exchange Info:
otcbb.com
NASDAQ & AMEX LISTING INFO:
This site lists the requirements for NASDAQ Small Cap Listing:
nasdaq.com
This site lists the requirements for AMEX Listing:
amex.com
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