Error Message " Where is the file '370.MTS'? "

Hello Experts.I am trying to open a PE version 9 project file with my newly installed PE version 12. I have a new laptop with windows 8. I think I correctly transfered the project file from my old computer that ran windows 7 (and has the PE 9 on it.)
In PE 12, when I try to open the project, I get the message, " Where is the file '370.MTS'? " and, the project does not open.
I appreciate all the help and advice you can offer.

Tonapah Aberdeen
Best of both worlds suggestion perhaps....
Archive your Premiere Elements 9.0/9.0.1 project, using the project's File Menu/Project Archiver/Copy Option. That will save the project file (project.prel) + the source media that went into that project.
Take the saved Copied Folder and transfer it to a USB Flash Drive. Use the USB Flash Drive to transfer/copy its Copied Folder to the second computer.
When you want to open the version 9.0/9.0.1 project in Premiere Elements 12, right click the 9.0/9.0.1 project.prel file, select Open With, Premiere Elements 12.
Once you edit this file from the Copied Folder in Premiere Elements 12, you cannot edit it some more in Premiere Elements 9.0/9.0.1. But you do have the back up for the original project 9.0/9.0.1 project.prel.
http://help.adobe.com/en_US/premiereelements/using/WS09e4b3c48f3a79fc19b622510385d4355c-7d cb.html
It is worth a try.
ATR

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