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Microcap & Penny Stocks : OILEX (OLEX)
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To: SammyW who wrote (1368)8/28/1997 10:02:00 PM
From: Prudent Investor   of 4276
 
Hi Sammy. I did a little research concerning this "deal". According to the Oil and Gas Journal, a company having economically recoverable reserves of "500,000,000 barrels of oil and 4.5 trillion cubic feet of natural gas" would be ranked as the 8th or 9th (depending on how you figure it) largest domestic energy entity in the United States, approximately on par with USX-Marathon and ARCO and having more domestic gas reserves than Texaco. Oilex is going to buy a company this size for $15,000,000? You know how the old saying goes: "if it sounds too good to be true......."
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