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THIS THREAD IS FOR INFORMATION REGARDING MOUNTAIN ENERGY. PLEASE KEEP POSTS TO THOSE CONTAINING DD ONLY. THIS IS ONLY INDIVIDUAL DD. PLEASE DO YOUR OWN AND CONTRIBUTE SO WE CAN ALL BENEFIT. WE ARE EACH RESPONSIBLE FOR OUR OWN DD, OUR OWN CONCLUSIONS, AND OUR OWN INVESTEMENT DECISIONS. THIS IS A SPECULATIVE PLAY. Here is an excellent summary, posted by Bill L, with an initial comment by Jason. I just wanted to pass this on to you. I have a friend who is opening an E*Trade account, and is considering investing in ICVI. I sent the information below to him to help answer any questions he had about what is going on with the company right now. I have collected information and DD from several SI posts, as well as the PR that came out Thursday, and pieced them together to give a summary of what we've learned over the last 5 days or so. You may post this on SI if you wish, as it may help newer readers catch up on what has been going on this past week. The information I've gathered here is the result of a lot of great DD done by several SI members and ICVI thread posters, and I hope that they do not mind my doing this. I also edited the message at the end that was sent to you by another SI lurker to reflect the correction he made in his follow-up e-mail to you. None of what I've collected here is a result of any DD I've done. I have merely restated what others have already said. You may post or not post this as you see fit. Good luck to you, me and every other ME-head!! Jason (definitely still holding ...) ------------------------------ 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 | ||||||||||||||
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