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

To: eric deaver who wrote (7043)	7/30/1998 10:37:00 AM
From: Cliff Daniel	Read Replies (1) \| Respond to of 11684

Dow Jones Online News, Wednesday, July 29, 1998 at 14:08 WASHINGTON -(Dow Jones)- The Securities and Exchange Commission Wednesday suspended trading through Aug. 11 in the shares of Mountain Energy Inc., a Houston-based oil and gas firm. The SEC said it had questions about the adequacy and accuracy of publicly disseminated information concerning the company's ownership of certain properties and the valuation of the mineral assets on them. Earlier this week, Mountain Energy announced it filed a lawsuit against prior management and others in the District Court of Harris County, Texas., seeking damages and other relief. The company, which said its investigation is continuing, didn't elaborate on the suit. Mountain Energy Inc. (MTEI), merged with International Casino Cruises Inc. in a stock swap in May. At the time, International Casino Cruises said Mountain Energy owned and controlled West Virginian mineral rights that contained about 1.98 billion cubic feet of gas, 10 million tons of coal and other properties with a combined estimated fair market value of more than $200 million. It couldn't be determined which of Mountain Energy's properties were the subject of the SEC's concerns. Copyright (c) 1998 Dow Jones & Company, Inc. All Rights Reserved. Companies or Securities discussed in this article: Symbol Name BB:MTEI