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Microcap & Penny Stocks : OILEX (OLEX)
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To: roberto cammarota who wrote (920)4/10/1997 10:07:00 AM
From: Eric Maggard   of 4276
 
Hello Roberto,

I don't think there is any advantage to being non-reporting. Unless the company is a scam and has something to hide. Many people will not invest in a non-reporting company. From what I understand is that last year they did not get full-reporting status because of the way they did accounting and the acquisitions that they did earlier last year. Since they are in the process of acquiring a couple of more properties, they can't apply because their company is changing too much. The goal, IMO, of the company is to acquire as many old wells as they could and then make them profitable with the new swabbers that they have. I think after they take over Geronimo, they will be done with acquisitions. These are my thoughts, you could call the company and investor relations.

Eric
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