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Microcap & Penny Stocks : OILEX (OLEX)
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To: Steven Taylor who wrote (3721)7/17/1998 1:15:00 AM
From: Steve  Read Replies (1) of 4276
 
It is you who have demonstrated a lack of knowledge of production swabbing and an unwillingness to learn about ORS swabbers or to even see one in action. You think you know it all, well, sorry you don't. Until you are willing to learn about ORS swabbers you will lack any credibility here. The leases that Oilex has acquired were acquired with the expectation of applying ORS swabbing technology to get them back into production. Most of the leases that Oilex acquired were not producing at the time of acquisition. These wells were shut-in by the former leaseholders who made an economic decision to stop production and sell them off.

Oilex had many problems in 1996 and 1997 in getting the wells into production; fractured casings, etc. It is not surprising that production was slow to ramp up and why there was a cash crunch and the need for alternative financing. As to whether I was misinformed about the debentures I was I had been told that a "white knight" had purchased them and was holding them and would not convert. Apparently that deal fell through and the debentures were converted as many colluded to short and cover.

You didn't respond to the substance of the prior post about reduced lifting costs. This is the main benefit of swabbing. Perhaps in your vast knowledge of production engineering you could comment on the benefits of a new technology that lowers operating and maintenance costs in making a well economic to place it into production or continue producing from an existing well.
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