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Microcap & Penny Stocks : OILEX (OLEX)
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To: Prudent Investor who wrote (2737)2/11/1998 2:59:00 PM
From: ROY SENDELE  Read Replies (2) of 4276
 
Not everyone is gone. I just talked with Omar. He admitted that there is still some debentures that have not hit the market yet, but is still saying that there will not be a major dilution to hit. He is stating that in all, we will see an outstanding share count of around 3.5 million after all is converted. I asked again that there is talk of 30 to 40 mil more coming on the market and he said that is not the case. He wanted me to know that what has happened with the reg S was the only option for the company. They needed cash and if there was a better way, they would have done it. OLEX is waiting for some cash flow from this round of drilling to move the company into expansion. I asked about the gas properties in Colorado. They will not be doing anything with them for awhile, but want to do something in West Virginia properties first. He also said that he has spent the last day out in the field with an analyst. He gave me his number to call on Thursday. So believe what you want, use and or abuse. What else can we do but wait for oil to flow. Where did everyone go, I would think that most people can not just sit and talk on SI everyday or at least put to much time into one issue. Mistakes are made, time to find one that will offset losses. roy
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