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Microcap & Penny Stocks : OILEX (OLEX)
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To: Steven Taylor who wrote (3721)7/17/1998 9:24:00 AM
From: CHRISTINE  Read Replies (1) of 4276
 
A post from Califtalk. For those of you who do not read AOL.

Christine

Subject: Price movement
Date: Fri, Jul 17, 1998 04:16 EDT
From: CALIFTALK
Message-id: <1998071708164700.EAA11054@ladder03.news.aol.com>

ubj: Re: More Investors
Date: 98-07-17 04:08:03 EDT
From: CALIFTALK
To: C764

The price movement reflects the buying decisions and selling decisions
of many individuals. The constant demand for shares during the past two
weeks and the elimination of shares from the debenture conversions has
changed the direction of the market. The spread between bid and ask
increased from 1 cent to 4 cents as of today and that is a sign that the
market makers are short the stock and are uncomfortable in selling
shares when the shares are not in inventory. If the program of shareholders
requesting their stock certificates is successful then the pressure on the short
position in this stock could cause dramatic movement. The stock is still
below the 52 week highs of approx 62 cents (adjusted for the reverse split)
and on technical grounds could test the highs. Especially since the company
has proven the new in field wells recently drilled and completed in the
Big Foot field and has prepared over 400 wells in the four producing oil fields
for the swabber units that have shown the feasibility of 5 barrels per day
per well (average). Therefore when the equipment and manpower is in place
the company can produce 2,000 barrels per day. Dependent upon the market
price of oil the company can generate a good positive cash flow. When the price
is at the current lows of $12 per barrel the company can still operate at a profit.
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