Hello all,
Allow me to introduce myself as one of the formerly silent and currently angry (and growing angrier) Oilex shareholders. I want to thank everyone, especially OFW and Prudent Investor for their enlightening and eye opening posts. They have taken due diligence to a new level. I don't care how they came in possession of this information or how much stock they own or how they acquired the stock that they own or formerly owned. The information speaks for itself. In my opinion it is all relevant to Oilex. I can't see how any of it, even if it is old is not relevant. Those of us that think this information revealed on SI is capable of driving the stock down to its current levels better get a dose of reality. Anyone who buys or SELLS a stock based upon what is written on SI without doing their own homework gets what they deserve. I also want to thank Larry Sallee for his all his work on the oil properties and the oil that never actually gets out of the ground and to the bottom line. As for the small cheerleading team that has formed, I don't know what infomercial on positive thinking you are watching, but I don't see this stock in its present situation as having a single positive or redeeming quality (a tax loss does not count). As we test new lows daily, the rest of the market is obviously smarter than all of us who have held and doubled and redoubled our positions. I am definitely one of the dumb ones as I have enough of this stock from the .60 level on down to get me committed.
Baron and Omar, while I don't envy your position of trying to defend a stock that is in freefall, you brought much of the anger here upon yourselves. You get paid for publicity. If you can't handle a small group of investors who exchange ideas on a computer message board, what are you being paid for? I thank you for volunteering your time to answer questions, but you should have understood that the stock performance was not going to make your job easier. When people are making money, they will let little things slide. When people are inexplicably losing money, they are going to examine everything that they possibly can. Don't offer to answer questions and dodge them. If you can't give an answer, don't ignore it or give an evasive answer. Just state that you can't answer the question. Baron, don't direct anyone to go read the 10-K. I would guess that we all read the SEC documents once. If there is anyone out there who enjoys reading and rereading these documents, I would love to hear from you.
" For further clarification regarding the conviction please be advised that Mr.Burditt voluntarly agreed to the proceedings in order not to be black mailed, extorted , threatned with law suits by a slick group of lawyers representing the Waymans over a transaction that full and competent legal advise was provided for.
Mr. Burditt voluntaraly got on the airplane flew to Kansas stood through the proceedings was apologized to after the proceedings by the judge for the inconveinence to his life and was invited by the Judge to come to Kansas to drill some Oil Wells."
Omar, who wrote the above response and what were they thinking? "...Mr.Burditt voluntarly agreed to the proceedings." As I recall these were criminal proceedings. A person does not selectively choose which criminal proceedings to recognize. A person does not volunteer to have criminal charges pressed against them. One does not volunteer to do the court a favor and make an appearance at their own criminal trial. I think Mr. Burditt's slick lawyers told him he better show up at the proceeding. If nothing was wrong in the first place, then things would never have gotten to this level. Things don't get to this extreme without there being a serious problem. Why didn't Mr. Burditt just give the money back in the first place, without all of the court problems? I guess his legal team thought they would win the case (I really hope this is not the same legal team that is handling Oilex's lawsuits. More on that in another letter.) My guess is that there was some sort of deal negotiated by Mr. Burditt's slick legal team. Maybe the Waymans were not alone. Maybe there were other securites sold, which shouldn't have been. Maybe a guilty plea and full restitution was accepted in order to avoid a full investigation of all that was happening. These are all my guesses, but they seem to fit. Omar and Baron, Mr Burditts past is relevant to Oilex. He is an integral part of the company. A mans past shows his character and is usually reflective of a mans future actions.
"...over a transaction that full and competent legal advise was provided for." Omar, can you please clarify this part or the whole of the above statement since I can not understand it.
To the Baron : Re : Australia
1)Are there any royalties being earned on the Australian properties?
2) If yes, then how much and when will we see them on the bottom line?
3)If no, are there currently any producing wells on the property? how many? If there are producing wells, then why aren't we seeing any royalties?
Sorry for the long post, but there is much to be addressed about this company. Baron and Omar, nothing personal as my anger is directed at the stock, but you guys are on the front lines here. I will have more to say.
Show me the Oil.
Happy holidays
Ed |
