To: V$gas.Com who wrote (4829 ) 7/8/1998 4:02:00 PM From: LionHeart Read Replies (1) | Respond to of 11684
---NEWS FOR MTEI-CONVERSATION WITH JACK USELTON----- I spoke with Jack Tuesday afternoon for about 35 minutes. The purpose of the call was not to get too in depth since we could do that next week at their offices. I wanted to get a general idea of where the company was and what was in the works. Teresa answered the phone. She is Jack's new assistant. She just started on Monday, July 6th. She is very pleasant and enjoys it so far. Jack is excited to have her as an assistant. They've got more than 60 properties now in WV. Most, if not all of these properties make up the acreage that we already know about. MTEI has won the bid on more properties, but will not release any information on those until the deeds are cleared. Great deals. He expects and wants MTEI to be a billion dollar company before he retires in 5-6 years. He thinks it will take less time. He has always wanted to be the CEO of a billion dollar company. They are actively looking at properties in West Virginia, Texas, Oklahoma, Wyoming, Pennsylvania, Kentucky, and one other I forgot to write down. Those are just the ones he ratlled off. He's still very excited about Richard, their imaging guy. Richard graduated Magna Cum Laude from Rice while working his way through college. Richard worked for Exxon and Amoco, two of the largest oil and gas companies in the world. Richard wrote a software package that would tie in infrared imaging, magnetic resonance imaging, and seismographic data together. Jack Uselton is the IR guy right now. He did not say when the next press release would come out, but suggested that some of the initial Stagg reports would be in the next one. Stagg has completed the coal figures on several properties and are working on the oil and gas figures. Notice: that's oil AND gas. Another acquistion was talked about. This one has 13 million barrels of oil left in the ground that Jack estimates they can extract approximately 60-80% using new technology. He said current talks have been favorable. No time frame was given and nothing is final until it's final. If you're not long on MTEI, you don't know Jack! Uselton that is. Have a profitable day, Tod