OILEX (OLEX) Message Board

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Microcap & Penny Stocks : OILEX (OLEX)

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To: Prudent Investor who wrote (1345)	8/19/1997 1:31:00 AM
From: Larry Sallee	of 4276

The nature of the questions you are asking should be directed to the PR or the Company. I can give some information and opinion. I hope you have taken he time to read all 1300+ notes in your own due diligence. I will give you my opinion on the two questions I think you are asking. (1)Did OLEX have informaiton that encouraged the purchase of the Queensland properties? In the press realease the producers on the properies were of such substantual nature that much of the potential informaion on the fields and quarterly production are available in the Edgar filings and equv. required filings in Australia. Such companies are Exxon, Bridge Oil and Eromanga Oil. I would call all three of these Majors and the announced drilling by each with time tables are easly followed on my own PC via the webb.Your suggestion that the Management didn't use good judgment or should have used the money elsewhere is too subjective for me to address. I would assume Management has better tools at hand to assess properties. The royalties are based on production reporting to the Australian Government and it MAY be that this alone was enough to encourage a trade of restricted stock. Now to antisapate your next quesiton why would the Australial owners trade for Olex stock- well maybe they have more information about Olex than you and I have. If things go well for OLEX they surely will have their cake and can eat it too! (2)You state you have been unable to find any 144 filings to show insider selling- OK that should answer your own question there are no new 144 filings of insider selling that I have found either. Your additional comment;" From reading recent SEC filings, it is apparent that some insiders have a cost basis of a fraction of a cent per share so that a sale, at say $.40per share,would constitute an enormous return on their investmant." That statement is not apparent to me at all nor is the suggestion that insider dumping could be going on,or withholding of information in the self reporting of sales to the SEC by insiders. I have researched and held OLEX for more than a year and if insiders were dumping for a huge profit it wuld have been at a higher price in the past I would think. Your comment about the Australian property ending "...are they doing investing in something about which they know nothing?"is counter productive and I don't think approprate to this string with out facts. I see your disclaimer at the end but frankly it looks more like you want to raise issues that do not exist and put questions forward that only imply a negative answers about the Company. First of all this is a BB stock and you just don't have the same kind of informaiton you would expect from Motorola.Secondly, We do have a fully reporting Company- the next 10Q fpr April, May and June is due soon and will answer many questions. I have listed where you can go to independanly find production numbers and filings to drill at Big foot. If posting these locations has promped this nature of questioning I will keep the Australian URLs to myself.

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