OILEX (OLEX) Message Board

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Microcap & Penny Stocks : OILEX (OLEX)

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To: Steven Taylor who wrote (3701)	7/14/1998 1:12:00 AM
From: CHRISTINE	Read Replies (1) of 4276

Steven, here is a conversation I had with Califtalk and some of his thoughts on CAYC. From: CALIFTALK To: RSKEET RSKEET: What about the debentures? CALIFTALK: the 1,250,000 shares was a partial conversion that the holders needed to cover their short position using part of the last debenture CALIFTALK: they had tried to lower the market price at the end of June CALIFTALK: to be able to receive more shares when the market price fell CALIFTALK: instead they met my buying and backed off and covered in haste RSKEET: Where do we stand at increasing the amount of swabbing units? CALIFTALK: The balance of the debenture is still open, and I have to read all the documents to determine rights and obligations CALIFTALK: 2 units are at the factory for maintenance and 4 all working in the field and one old swabber unit needs major repairs the company needs 10 working units CALIFTALK: the swabbers pay for themselves when being used but daily field management is lacking and thus the field workers are producing at a fraction of potential RSKEET: What about the 30 units CAYC has ordered? Is there a chance they might lease some to Oilex? RSKEET: What is management going to do to up grade there field operations? What about the merger ? CALIFTALK: that point was brought up to do a joint venture with cayc where by cayc would use their swabbers and split the proceeds CALIFTALK: the merger does not seem likely unless and until cayc gets their millions of dollars of funding and their stock increases in price RSKEET: Will there be any official statement from Oilex upcoming? CALIFTALK: the field manager was sick for the prior year and then passed away, thus no field controls or results for last 12 months CALIFTALK: Oilex will announce appointment of new director and general statement as to activities RSKEET: How long were they planning on letting this situation continue? CALIFTALK: planned on Monday or Tuesday RSKEET: What was there response to you CALIFTALK: Management is interested in making deals and daily operations was secondary CALIFTALK: We had candid and open discussions. We all recognize the hurdles that must be overcome on the way to making Oilex a winner, but the potential is OK CALIFTALK: They planned the merger with cayc as the saving event, but I am not certain it would be wise for the existing shareholders of Oilex CALIFTALK: I think cayc would get the better end of the stick as they had it planned CALIFTALK: and as you know the management of both companies has a conflict of interest CALIFTALK: Have to go now Hope this has helped you understand Olex

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