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

To: Janice Shell who wrote (5504)	7/19/1998 10:03:00 PM
From: PatiBob	Respond to of 11684

This is just an example of what happened to us many years ago. We had a relation who passed long after his children did. He had several parcels of land in West Texas. There were 8 surviving relatives and no one wanted to pay the back taxes (5 years worth on a total of 487 acres). All the property went to auction and was sold. It wasn't until years later that we found out that there was oil on some of the property. We also found out that the old gentleman had been told that there was no way for there to be any value to the land except for grazing purposes and he took that for fact instead of checking it out for himself (this was land that was passed down to him). I'm not trying to say that the land that MTEI acquired was done so in this same manner, but your question was "if the properties in question were so rich in mineral reserves, why couldn't the former owners simply have sold them, rather than have to deal with the indignities and disadvantages of foreclosure and bankruptcy?" In our case, we just took it as fact that the land wasn't worth much more than grazing acreage and none of the heirs wanted to pay the back taxes and keep the land. I know that it was not too smart on the part of the heirs to check into this as there was land surrounding his that had oil on it. Like I said, it was just a possible answer to your question. Some people might not know what they had until its gone. We sure didn't. PB

To: Janice Shell who wrote (5504)	7/19/1998 11:43:00 PM
From: eric deaver	Read Replies (1) \| Respond to of 11684

I was once with a company (about three years ago) that bought a distressed property for pennies on the dollar (in southern california) turned it around in about 90 days and made many millions of dollars simply by redividing the properties. Also look at where the environmental industry is going - every major environmental firm is teaming up with the likes of Tow and a good real estate lawyer and is purchasing distressed properties - it referred to as a Brownsfield Project. Don't believe me check the EPA website. What's the concept? Buy a distressed property for pennies on the dollar, redevelop and turn it around for a big profit. BTW, I think PB has an even better response in her answer. Seems like MTEI is doing the right thing to me. Why don't you all drop the doomsday speculation until the Stagg reports start coming out? Or do you need this stock to go lower for some reason? Eric