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Microcap & Penny Stocks : OILEX (OLEX)
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To: Jeffry Rogers McCall who wrote (2593)1/21/1998 3:34:00 PM
From: Omar  Read Replies (1) of 4276
 
Hello Jeffry,

First of all we have not acquired any properties lately nor are we exploring any new fields. However, what we are doing is going back into the old fields and drilling new infield wells with accurate geographical and seismic data. (Significantly different from exploring)The infield wells that we are currently drilling are shallow compared to what other companies have been drilling lately. The upside to this is low risk and cost plus we have proven reserves on almost all our fields.

The company is and has been trying to the best of its ability to expand vertically, but with any development stage company it takes time to get where you need to go. We are hoping that '98 will be a favorable year for Oilex.

I will try to keep the web site updated regularly with updates on current drilling programs(seperate from press releases).

Again we are doing the best that we can to keep all our shareholders and interested parties informed.

Sincerely,
Omar
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