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

To: blueHorse who wrote (7011)	7/30/1998 10:06:00 AM
From: eric deaver	Read Replies (1) \| Respond to of 11684

BH< Thought I would use your post to repost the May 28th PR (the one that values the properties in question. If you all want to speculate I would start here: Message 4623154 Read it VERY carefully. Especially this part: "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." Now, IMO, the company was very clear in how they came up with their figures. They are NOT referencing book value and the figures they have cited are correct. They even go so far as to define what they mean by "net profit". Now the coal business values reserves differently then MTEI has here but these are not lies. There is one mistake which I am very surprised no one ever caught before. Shows how much you all really read and investigate these things. The alternate fuel tax credit cited above only applies to wells installed prior to 1992. How do I know this, it is referenced and outlined in a paper I was recently discussing with of all people marcos: techstocks.com The information is public knowledge. Really doesn't take much effort. I'm surprised that the likes of jhild and group missed it. Remember that this PR was written by Gort as PR man - I wonder how that is going to play to the SEC? Eric