To All: JUST got off the phone with Mr. Tom Goolsby...
These are the information that I was able to extract out of him without him violating his "insider" status:
A) Mr. Goolsby accompanied Mr. Burditt to three meetings that Howard Bronson Co. arranged, and these are meetings that are IN ADDITION to OTHER MEETING that Mr. Burditt have at NYC. They met with 1) Arnhold and S. Blachroeder, 2) Shields Co., and 3) Ladenburg and Thalmann. All three companies are brokerage firms, and in addition #1 is an institution brokerage firm. He did not have time to tell me what the meetings were all about as he had to run to a meeting.
B) Goals of going NASDAQ is closer than ever. When asked about the $3 requirement, Mr. Goolsby stated that there are ways the $3 requirement may be waived. The scenerio is likely if a company already has a "shell" in NASDAQ then all it has to do is grandfather into it. However, he stated that even if $3 requirement is mandatory, it would not be much of a problem as he thinks that the company is well on its way of getting it. He said Mr. Burditt is working on that.
C) He is still in contact with "Dow Jones ticker" people and said that a full report on the company will be written shortly. I don't know what these "people" are so I couldn't really understand the explanation he gave.
D)$3/barrel cost, specifically, is the lift cost, which is the cost to get oil out of the ground. He stated that the lift cost is now down to $2.50 per barrel.
E) He is in touch with several brokers that have "clout" and likely that OLEX will be getting some wide coverage soon.
F) Now this one is the most interesting of all, and is the one that he is the most reluctant to devulge details. During initial summary of the company's present status, he mentioned that some "research report" will be written soon. So when I asked him for details about that few minutes later, he paused and stuttered and sounded like he regretted telling me about that report. He said some "research report" will be written "next week". I try to get him to get me more details but he refused and said that it will violate his "insider status". So I asked questions from another angle since I really don't know what a "research report" usually is. I asked him, IN GENERAL, what is a research report, and he said that it is something written by a brokerage firm, usually positive on its initial writing, about a company that they are interested in. The report is usually written by an analyst whose specialty is in oil and gas. He drew the analogy of when some company lowers the rating for a firm, then the stock market usually act accordingly. So I asked him is it true VICE VERSA, and he said "usually".
So, what do we think from these info? I think, for one, a research report will come out very shortly, if not next week. I think, it may consist of favorable comments on OLEX and possible initiating coverage of a company? The stock price, at this very moment, is slightly depressed, possibly due to profit taking. I was wavering, but after talking with Mr. Goolsby, I am holding tight, period. I may never see these prices again. Comments?
Good luck investing everyone!
Nanlin |
