OILEX (OLEX) Message Board

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Microcap & Penny Stocks : OILEX (OLEX)

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To: Jeff Beyer who wrote (1313)	8/8/1997 11:48:00 PM
From: Larry Sallee	of 4276

JB areyou are looking only at cash and cash equiv. assets?-the one million is a purchase cost of oil and gas properties( the value is still there in the company only properties now) and the only major debt- this company owns 40% of TANC ( total 13.5m shares at $3.44 today)Olex has 5,400,000 shares free and clear and worth at least market on top of the operations costs and other assets. The many properties have a market value in the millions- were do you see the burn??? If OLEX saw that the 1 million was a problen they could sell one of many parts of the asset folio to cover it. With an oil company the assets are not blue sky if they have independanly proven oil- the net loss has been cut by 50% the operation cost by about 50% year to year-IMHO that ain't bad. we all want more income for sure and that will make the Company. I hope that helps or if I'm misunderstanding please let me know. Larry

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