SOURCE: Management Energy, Inc.

December 16, 2009 09:00 ET

Management Energy, Inc. (OTCBB: MMEX) Announces Second Quarter 2010 Results and Current Development Strategy

SAN JUAN CAPISTRANO, CA--(Marketwire - December 16, 2009) - Management Energy, Inc. (OTCBB: MMEX), an exploration stage coal company, announced its financial results for the second quarter ended October 31, 2009 and filed its Form 10Q with the SEC. Additionally, the Company announced its current development strategy.

"We are excited to pursue our new development strategy with John Baugues, our development partner," commented David Walters, Chief Executive Officer. John P. Baugues is currently the President of Montana Coal Ventures and has over 20 years of experience as an owner/operator of coal mining operations, development, and acquisitions. He is a 4th generation coal miner with extensive experience in sourcing, developing, mining and selling coal properties. John P. Baugues, Jr., has a proven track record in Montana with the recent sale of Bull Mountain (now known as Signal Peak Energy) to First Energy for over $350 million plus royalties, giving investors a four-fold return on their investment.

Our current development strategy is to pursue the Bridger-Fromberg-Bear Mountain project with John Baugues, our development partner. We believe the benefits of this strategy include:

--  Reduced capital requirements.  Our development partner will have
    responsibility for obtaining funding for the project.   We are entitled to
    an overriding royalty (based on sales and net profits) on the coal produced
    from the project without making any additional capital investment.
--  Option to participate in project investment.  We have retained the
    option to participate up to 50% in any acquisition of coal properties that
    become part of the project.
--  Access to industry and local market expertise.  John, our development
    partner, has over 20 years coal industry experience and has successfully
    developed and exited a coal project in Montana.

"We believe our development partner's comprehensive knowledge and expertise in coal-related endeavors will help us execute on our development plan," commented David Walters, Chief Executive Officer.

Management Energy, Inc., an exploration stage company, engages in the exploration, extraction, and distribution of coal. It leases approximately 6,254 acres located in the vicinity of Bridger in Carbon County, Montana for the purpose of mining, removing, marketing, and selling coal.

This Press Release contains or incorporates by reference "forward looking statements including certain information with respect to plans and strategies of Management Energy Inc. For this purpose, any statements contained herein or incorporated herein by references that are not statements of historical fact may be deemed forward looking statements. Without limiting the foregoing, the words "believes," "suggests," "anticipates," "plans," "expects," and similar expressions are intended to identify forward looking statements. There are a number of events or actual results of Management Energy operations that could differ materially from those indicated by such forward looking statements.

Contact Information

  • Contact Investor Relations:
    David Walters
    Chief Executive Officer
    Email Contact