Christine,
I do own some shares for my friend (he's still a friend. Don't worry, it's less than .0001% of his portfolio. My life is a little more expensive...[I also have an E*Trade account with a 20 commission so he decided to go with my account]) that is not worth to sell. I don't consider myself to be an Oilex investor and I'm very proud of that no matter how high the stock may/may not go. As you know, I'm still in school. And when I get out, I'm not planning to touch any BBs or the other tiny stocks on the smallcap-nasdaq. It's not worth the effort since not all companies are open and most investors try to avoid (no liquidity). Last week I was into UGLY, NSCP, BCU, and OXHP. I dropped most of NSCP since it just took off too fast. It's an Internet stock so it can double tomorrow, who knows. If they are waiting "Until the price of crude improves" than this company is extremely bad. No one can guess the price of crude. The best thing is to pump as much as they can so earnings will not hurt. You want to tell me that until then the company is dead? Second, they need a large infusion of cash. Where will they get this from? With all do respect, this guy (calitalk) had put in ~$368K--a fraction of what Oilex raised in the past for drilling. And if he had to sell a private company to raise that cash, who the hell is he? This is millions dollar question, not thousands. Believe me, it's not at all my intention to raise doubts about anything here. I think you're excited and I'm too about someone finally coming to the rescue. I'm trying to make sense out of this just as you, with only a different angle.
See you,
Marty
PS
The best thing he can do is squeeze the short and let you get out at the same time. If the stock continues the fly with no progress in the field, I'll have a millisecond to hit the door. I have said it a few times over e-mail to a guy by the name of Nanlin who used to post here. The stock hit $1 and I decided to stay (I got out at about .03). The point is, if it doesn't make sense, stick to your plan and bail out. I wish you the best of the best no matter what you do, Marty |
