OILEX (OLEX) Message Board

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Microcap & Penny Stocks : OILEX (OLEX)

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To: Jeff Beyer who wrote (1308)	8/8/1997 1:02:00 AM
From: Larry Sallee	of 4276

Jeff you should compare with the 10K and 10Q just filed- stockholders Eq is up to 7m or so and OLEX ownes 40% of Titan energy(13500000shares and $3.+)has and has aquired some interesting properties this year. There is no question that Berditt and Timmons took over a small limping Co and have been building all throught 95 and 96 bringing production in in the first of 97. The financials ,IMHO, of small companies are going to be tough to deal with but in oil it all is in the properties- Pecos, WakerQueen, Scurry Co, Big Foot inTexas- the Austrailian property, ownership in Titan energy. For example at Big Foot- several other Companies have been bringing in good new wells nearby in the deeper structures- the same structures underlay the OLEX leases. Olex is starting to do the infill drilling to test this structure- Olex has 55 wells that only need to be deepened not drilled if this proves out and wells sites to drill new wells. You may look at the history of the recent driling at Big Foot at WWW.rigwatch.com under search "Big Foot Field"-this is all far from done but we are sure further along than last year for sure:) Larry

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