Plateau Mineral Development to Acquire MEI, O&G Projects
Plateau Mineral Development plans to acquire Matthews Energy Investments, LLC (MEI).
MEI is a research and development management company that receives income from successful development projects. Three current sources of income for MEI are from oil and gas projects in Kentucky, Oklahoma and Michigan, all of which have a positive cash flow.
MEI also provides loans to companies for developmental purposes. However, in some cases, MEI carries out its own in-house research and development. Therefore, another source of MEI’s income is from the reimbursement of loans and up front capitalization for in-house developments.
Robert Matthews of Plateau Mineral Development, Inc., stated, "Plateau has chosen to acquire MEI because MEI has both the funds and the resources for research and development, while Plateau has the tools and technology to get the job done."