Corporate Profile for Mountain Energy, dated July 27, 1998.
Published Date: July 27, 1998 Company Name: Mountain Energy Inc. Address: 7700 San Felipe, Ste. 480 Houston, Texas 77063 Main Telephone Number: 713/334-4111 Chief Executive Officer: Jack E. Uselton Chief Financial Officer: Jack E. Uselton Investor Relations Contact: Vivian Overstreet Business number: 713/334-4111 Trading Symbol/ Exchange: MTEI/Over the Counter Bulletin Board Industry: Oil/Gas, Energy, Coal
6 Mountain Energy Inc. came into existence in late May 1998, and represents the culmination of Jack Uselton's (Pres./CEO) efforts to establish a public, independent, oil company. His motivation for being a publicly traded corporation was simple; it is easier to grow.
Growth is the key to success, and success is what causes the value of investor equity to appreciate. However, "growth" requires definition.
Basic growth, in the oil business, means increasing the number of leases or properties in possession. It is elementary that you must acquire "locations" that are geologically qualified if you are to extract hydrocarbons. This is currently the thrust of Mountain Energy's activity because today's markets lend themselves to acquisition.
We are in a basic growth period. Prospect growth is another facet to examine. When basic growth is far enough advanced, properties are given a thorough geo-dynamic examination. Priorities are assigned to emerging drilling prospects according to risk, cost, lateral exposure and profit. Then, and only then, will Mountain Energy's management enter into appropriate operations.
Growth in operations, and alternately, sales and revenue, is the next step. Some subjects to consider are lease costs, surface damages, rig availability and pricing, oil and gas prices, cost of product transport, political and environmental risks, personnel safety and logistics. It is not easy, but we know how to do it.
With successful operations, production increases. This in turn feeds more operations. The net result is twofold. Growth of profits and growth of proven reserves. These are the two categories of growth which add value to equity. They are the bedrock we will continue to build our future on.
Our approach to growing the asset value and profit position of Mountain Energy is solid. It is not always sufficient to satisfy those who trade our stock. It is human nature to wish for quick returns on an investment, and this drives a need for positive information. Mountain Energy certainly does not find fault with those who feel this way. However, if the management moved quickly to give out unproven information, they would be as guilty of irresponsibility as those sources of misinformation, who are currently so active on the internet.
Since acquiring ICVI, as a non-operating public company, and complying with SEC Rules, which allowed us to change the name to Mountain Energy Inc., we have been toiling toward our stated goal. Every investor should know that we are a new company. We have a new name, business, officers, directors and management. The transition is similar to buying a used car.
We have the skills, technology, experience, work habits and the ethics required. Our course is clear, and we are moving forward deliberately, and at the proper pace.
No one here has any doubt as to where we are headed. And, no one here has any desire to abandon his equity in the company. We are here for the long haul and the long profits. It is our hope that our investors have the same confidence.
CONTACT: Mountain Energy Inc.
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|Date:||Jul 27, 1998|
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