Hi, Offie--
Looks like another big volume day brewing. 390,000 shares traded, with some downward pressure. At this rate, OLEX will break 2m shares traded today, easily. Of course, it might stall right here, who knows.
I did some PE calculations on Oilex' current 250bbl/day production...it still isn't anything to do handsprings over, but it sure looks better than last year.
250 X 7 = $1250/day X 5 = $6250/wk X 52 = $325,000 - 40% OVHD =
$195,000 earnings/10,000,000 = ~ 2›/share earnings X PE of 15 =
a fair share price of 29›. So why do we languish at less than half of that?
BTW, I pulled the 10m shares outstanding out of the air. Have you gotten an updated share count lately, Offie? I suppose I could spend the dime one of these times, I need to stop being lazy and do my own DD on this company.
Here's to better days.
Rick |
