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Microcap & Penny Stocks : OILEX (OLEX)

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To: Marty Rubin who wrote (2746)2/13/1998 8:25:00 PM
From: Richard L. Williams  Read Replies (2) of 4276
 
Marty--
There may be hope, yet! <ggg> I just lifted this from the Oilex web site, what do you make of it?

>>Currently infield well number 3 (CR.Thompson 6-17) has been producing fluid. It will approximately take 2 to 3 days before a true flow rate can be determined, the reason for this is that when the structure underneath was fractured approximately 70,000 pounds of permeable sand and 8,000 barrels of frac gel was forced through the structure,until the frac gel flows out completely we can not determine a flow rate. We will also open up Meadors #4-8 and will have a flow rate on it in approximately 5 days (weather permitting). <<

I am not into drilling so the lingo is a bit foreign to me...what is "frac gel"? If it is as thick as it sounds, it might take a few days to get up 8k bbl, methinks.

To recap, we have #1 doing quite nicely, #2 producing with the aid of a swabber, now #3 is flowing, rate not known, and we should have a rate on #4 in a few days. Looks like Bigfoot is really coming through!

Happy hunting!

Rick
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