I had the same problem; did alot of research and found that the ERG valve wasn't the issue. There is a device just before the ERG Valve called a DPFE sensor that was causing the error but the computer couldn't differentiate it.
Check out this link and replace this part. It takes about an hour and its a bit of a pain but it cleared my check engine problem once and for all.
http://www.explorerforum.com/forums/showthread.php?t=164517
try changing the d.p.f.e. cost about $35,i just replaced one on a 2003 mercury mountaineer.
The engine is fuel injected so there is no carburetor on a 2000 Mercury Mountaineer
If you have a 1997 to 1998 Mercury Mountaineer or Ford Explorer with a V8 engine, you will have a 4R70W transmission.
On a 2001 Mercury Mountaineer with the 5.0 liter V8 engine : The engine oil dipstick is on the drivers side of the engine
Have a mountaineer with a bad 5.0 liter engine. What other 5.0 ford engines will interchange with the mercury engine?
On a 1997 Mercury Mountaineer : The " CHECK ENGINE " warning light is just to the left of the battery voltage gauge
Timing chains are designed to last the life of the engine. They are normally replaced during a complete engine overhaul. Unless the chain becomes noisy no maintenance is required.
Bank 1 is the passenger side of the engine and bank 2 is the drivers side of the engine on your 1997 Mercury Mountaineer 5.0 liter V8 engine
For a 2002 Mercury Mountaineer : engine oil filter ( Motorcraft FL-820-S ) for the 4.0 liter V6 engine and the 4.6 liter V8 engine
There are two head gaskets in the V 8 1999 mercury mountaineer
No , the 5.0 liter V8 engine in a 1998 Mercury Mountaineer has ( 1 ) timing CHAIN
firing order for 2000 mercury mountaineer with a 4.0, v-6 engine