OILEX (OLEX) Message Board

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Microcap & Penny Stocks : OILEX (OLEX)

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To: Ditchdigger who wrote (2242)	1/3/1998 7:15:00 PM
From: Larry Sallee	Read Replies (1) of 4276

I would ask you to re read my post as I must have been unclear- I was talking about the costs being very low to produce from a "flowing" well( which Oilex has two of now at Big Foot and two more to be perfed and fraced)-the oil and gas comes out under it's own natural pressure into the existing pipeline on the way to the storage tanks and market with no cost to produce the pressure that moves the oil and only small production cost (as I understand it), unlike pumping. From what I also understgand, the oil produced at Big Foot of high quality that there are ready buyers for any amount they care to offer for sale and commands the better end of the pricing. I posted some time ago that this was one of the nice things about reviving older fields as they are already connected to a gathering system and the overall Texas State distrabution system can handel just about any amount of production. The figure recomended to me to use for estimatied reserves is $6 and your figure is just about the same. I really can't help the string much on the conversion. Larry

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