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Microcap & Penny Stocks : OILEX (OLEX)
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To: Steve who wrote (3865)8/17/1998 11:47:00 PM
From: CHRISTINE  Read Replies (1) of 4276
 
Subject: Reply for Steve who is directly connected to the Old managers
Date: Mon, Aug 17, 1998 22:17 EDT
From: CALIFTALK

To: CHRISTINE (3860 )
From: Steve Monday, Aug 17 1998 8:29PM ET
Reply # of 3865

Saul continues to dig a deeper hole for himself. He now has enough invented creditors to file chapter 11 which was his original intent. I told you that at the beginning.

He is throwing around wild charges and is not too well disguising what he is after, the 800,000 shares of PWRX held by Churchill. His mouth is watering, he wants those shares folks but the problem is that there is no legal way he can get them. My scenario is that he files Chapter 11 and goes after those shares. If he can convince the bankruptcy judge that the only deep pocket in this whole affair is Churchill and that there is a connection between
Churchill and Oilex he may have a chance.

But first he has to throw around these charges and hope something sticks so he can make his case to grab those shares. This is just so much cover for what he is after: liquidation of Oilex through a gradual sell-off of assets and stock buy backs at depressed prices. He's going private folks, read the tea leaves and weep.
ANSWER- Churchill was previously called Phoenix Resources. And the CONNECTION
is Plain and Simple- the money that funded Phoenix Resources came from illegal sales
of Oilex shares while Phoenix was an affiliate (holding 10% or more of the outstanding
shares of Oilex) and that the sales were made from a broker in Canada to hide and avoid
the 13 D Reports and the SEC reporting requirements. That Oliver Timmins or Cynthia Timmins or their relatives Craig and Burke that were involved with Phoenix Resources will sooner or later testify and confirm the facts. The Oilex Bank account records clearly indicate that (Burditt) Phoenix Resources transferred most of the Debenture cash directly
from the Chase Texas Bank accounts of OIlex to Phoenix Resources(now called Churchill)
That Phoenix Resources or the related Burditt companies such as M. Patten Holdings
and BT Energy took assets or pieces of assets away from the shareholders of Oilex that rightfully belonged to Oilex, without notice or disclosure of the insider dealings.
We will prevail and recover assets that rightfully belong to the shareholders of Oilex
from all of the hidden companies controlled by Timmins and Burditt. The Judge in the
Bankruptcy Court has the legal power to bring Justice and reverse all insider deals.
Thank G-d that the evidence is clear and direct to enforce the rights of the shareholders
and bring forth Justice.
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