OILEX (OLEX) Message Board

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Microcap & Penny Stocks : OILEX (OLEX)

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To: Jeffry Rogers McCall who wrote (1342)	8/18/1997 1:00:00 PM
From: Larry Sallee	of 4276

Jeff when you get to the point in the 10Q that mentions the 12.50 per bbrl lifting cost instead of the $2.50. It is my understanding that figure INCLUDES ALL the costs INCLUDING the cost of the SWABBING RIG. If you are listing the RIG as an assett you have to show how it was paid for. The swabbers they have now are free and clear- the next ten on order are being financed. In in order to move into the fields now that the swabbers have been improved and tested you will need more to service all the wells- that is the plan layed out months ago. It is my understanding htat the first rigs were too light and the axels broke- the swabbing unit was ok so they had to move to a heavyer rig to haul it. The old OLEX page showed both and you can see the improvent. I called NUTK about the well they are drilling at Big Foot and was told they are completing now- with out the perfing and fracking they are estemating- low at 25 bbls a day to a high of 80!! Taking the lower figure for the existing 57 wells would be close to 1500bblsa day and room to drill more. The 10Q said OLEX will start pronto and the money to do so is in the package they announced. I would hope you comferm this information with the co/ Larry

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