OILEX (OLEX) Message Board

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Microcap & Penny Stocks : OILEX (OLEX)

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To: CHRISTINE who wrote (2211)	1/2/1998 5:45:00 PM
From: Larry Sallee	Read Replies (1) of 4276

Christine- I would say this was a good day- have you looked into Luling much? This is the field,in my opinion, think the swabbers will shine- There are a lot of wells and even at a conservative 7 bbls per week per well-meaning if they can only get around to each of the 225wells one once a week with two or three swabbers in the field.>> There are a lot of wells there(225X7=1,575 bbrls per week). As I understand the area some wells have sanded in over time and need some cleaning out. I assume this is the case at Luling,but this is not a big problem or cost to revive them . I think 7 bbrls per week average is pretty conservative and this figure can grow the more visits a swabber can make per week. So while each well could produce more, the limit is the number of swabbers and right now oil out of the ground is what we need. Hopefully in a few months there will be more swabbers available. I don't know how many wells are up and producing but again in my opion this field is a sleeper and will make an important contrabution to the bottom line in the next few quarters as the others ramp up. Larry

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