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Microcap & Penny Stocks : OILEX (OLEX)
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To: francis terry who wrote (2213)1/1/1998 1:18:00 PM
From: Larry Sallee  Read Replies (1) of 4276
 
Francis as far as I undersand Jefferson Co is not on the list of to do right now. Frio Co property (ie Big Foot with 4 new wells),Luling,Walker Queen and the Revilo will be the properties to watch for development. The royalty properties in Australia will begin to bring in some steady money in 98 IMO. As I understand it, Jefferson and Jackson County wells there would be drilled to around 9,000+ ft and that would be an expensive well to drill when the cost on the other properites would be so much lower and thus the same investment would yeald many more wells and prove out more reserves. I hope these new wells at Big Foot will up the proven reserves there by quite a bit. If you that have followed my posts on Australia, Santos just brought in a huge and I mean huge gas well just off by 10 to 15 miles West of Oilex royalty property. It may be the largest gas well ever discovered in Australia and the prospects for discovery around it look good. It is located at Barrolka. If you go to the Lakes Oil page reflections.com.au you can find a map and see that it is not too far west of ATP 267,544 and 543 on the Oilex map which you can see on the Oilex www page. Looks like the Lakes page is cranky today- you will need to go to the home page them go to eromanga, to get to the map otherwise do a search for Lakes Oil on inforseek. IMHO Larry
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