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Microcap & Penny Stocks : OILEX (OLEX)
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To: Steven Taylor who wrote (3091)3/27/1998 12:51:00 PM
From: Larry Sallee  Read Replies (1) of 4276
 
Well SteveT looks like you let one cat out of the bag!! I have been following HCM for two years and though I didn't have actual production , it looks like I wasn't far off. 2 million to the bottom and take 1/2 of the profits to drill new wells in the last 1/2 of the year. My strong belief is that the Oilex property is higher on the formation and my thinking is HCM is sure crowding the fence:)By the way do you know who owns HCM?? Now my guess is that they hope to pull 40 to 50 million out in the next 10 years- what do you think that field is worth now ? If the average well in Big Foot only produces 75 bbrls a day and you invest in 10 wells you get a daily production of 750 bbrls- you have no infrastructure to build and are already connected off field plus you have an addition ,of at least ,30 more drill locations.You can swabb enough out of the existing wells to pay for the whole operation and open up the next field. I have been waiting to see them do a horizontal development on an older well-that could be the best way. Frankly I got tired of many yelling for me to shut up and "show me the oil"- the wells came in-NOW I want someone to show me all the stock that was to flood in?????- right now Oilex has an offer for 2.2 million on one asset that equals approx. .50 per share right now ! Not the wells and fields ,only the royalty properties-I have averaged down and I am going to follow the oil and gas. If Cayc is interested in Oilex my opinion is that it is not the production of the four wells at Big Foot but in part what was learned by drilling them. There are 7 additional fields. ( IMHO only) Larry
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