OILEX (OLEX) Message Board

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Microcap & Penny Stocks : OILEX (OLEX)

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To: Eric Maggard who wrote (1859)	12/9/1997 7:55:00 PM
From: Ajay	Read Replies (3) of 4276

It won't affect OLEX because they are a fully reporting company. Read the actual proposal on it and it will be pretty clear. It's a little confusing at first but the gist of it is that it's going to require companies that don't have audited financials to get them and to report to the SEC. They have til Apr 1 to get in compliance or then they will be dropped from the BB. This is just to weed out mostly the shell companies - even if a company has no assets or liabilities all they have to do is state that and get it audited. All this activity is in response to the FBI "sting". BTW, Prudent Investor, I'm wondering where you are getting your numbers. Please everyone, check this for yourself - call the company or read it carefully. I'm afraid that Prudent Investor may have a personal grudge that goes beyond just a drop in price. Am I correct on that P.I.?? To OFW, that report from Ray Dirks is pretty old (i know, it was just May). You need to look at the projections from this point on. Drilling takes time and they don't have their own rigs. The oil sector is booming right now and everyone is drilling - rigs are hard to come by. I believe there may be plans to purchase one as soon as they can. Larry has mentioned that other companies are drilling right around the Big Foot area and oil is coming up. This information is verifiable. Please do yourself a favor and check it out. I know that drilling is going on very nicely!! I know a lot of people have bought at higher prices and have been frustrated. The question to ask is does the FUTURE look BRIGHTER or WORSE than the past and this should answer where the stock will go in the near term. Remember that people are still tax loss selling right now. Here's a little story I just found out. One little old lady had a few hundred thousand shares at a higher price. Her broker actually had no idea of what the company even did - just decided to sell it without checking out anything. Hope she doesn't look at the price after some time. Most people that I talk to are buying at this level - smart money buys when others don't want to. Dont' be the one to sell them the stock. If you do, thank you. Give it a little time and you should be amply rewarded. Respectfully, Ajay

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