Steve,
Here are some of your past comments and my comments to them:
The oil is flowing already.
Really, how much? See next statement by you.
I cannot understand why a production increase from 1,736 barrels in 1996 to 19,456 in 1997 is such a bad thing when a company is undergoing a turnaround. With the production from the Bigfoot infield wells coming in, 1998 should see production top 100,000 barrels. When a company is increasing production at such a rapid rate it is hard to pin down a daily number. I guess some people refuse to recognize the bargain that Oilex is right now. I certainly see the value and so does Caye Chapel. For those who want to make some money....
Let's see ... that is over a 1,000% increase in production. Pretty good I would say, but let's look at the numbers a little closer. I don't know how long you have been into OLEX, but let me suggest that you look at the opening and see how long I have been. Now, over a year ago, they (OLEX) was forcasting increase of production up to 600 to 1000 bpd by the end of Q1. That was a year ago. Looking back, their projections were way off. For the entire year they produced, on the average 93.5 barrels per day. They were projecting 3,000/day by the fall. Needless to say that they didn't meet that goal. Last fall, if I remember right, Allen B. and another insider put up about $3 million and got some cheap shares. They stated that it would be the money they needed to get production up. Look at the stock price in Dec and Jan. I think it was manipulated up to $1 so they could get out of those shares at a great profit. But that could be argued. Anyway, they have made projections before and have yet to even get close to meeting them.
What a foolish person you are. I post about what great potential Oilex has and what it has accomplished over the past 2 years and you find nothing of importance.
Don't call names, it doesn't do anything. The potential of OLEX has always been there, but at this point many don't want potential but results.
Materially everything has changed. Oilex is in merger talks with Caye Chapel. This is why the stock is rebounding.
They were also in talks with Geronimo, Funscape/Titan, and have done many lease purchases/acquisitions. With all of those they still didn't produce much oil.
Production from these old fields is a hot topic in the board rooms of the big oil companies. Old seismic data is being analyzed and new drilling programs are being initiated. Oilex just happens to be ahead of the curve on this one.
Wow, are you an insider or what? Or do you have some important friends. How do you know that this is a hot topic of the board rooms of the big oil companies? If new wells need to be drilled, how many could OLEX do with the money that they got from the Reg-S offerings? If they were ahead of the curve, wouldn't someone see the potential and loan them $10 million or more to develope it?
I guess you are deaf dumb and blind, go play some pinball oil wizard.
Stop that name calling.
Doesn't anyone get it?? OLEX is merging with CAYC. OLEX is worth $3.60 a share. CAYC is paying fair value for their acquisitions. I don't know about anyone else but I am staying put in both OLEX and CAYC. Better days are ahead.
Look at the opening. At that point they were worth an estimated $5/share. With the reverse split that would be $100/share. $100/share value two years ago to $3.60/share value now. That is not an increase to me. In 1995 the stock was at $3/share, down to $1 in 1996/7, and now at .50 after a reverse split. So in three years the stock has gone down from $60 to $.50. I hope for you past performance doesn't equal future performance.
Good luck, I hope you could get out with a profit.
Eric |
