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Gold/Mining/Energy : Canadian Oil & Gas Companies -- Ignore unavailable to you. Want to Upgrade?

To: timester who wrote (10019)	12/23/2003 2:25:56 AM
From: Kerm Yerman	Respond to of 24921

Timester / Oilexco I have no opinion on Oilexco. I have an interest in Bow Valley and they are involved in that area. In regards to Oilexco, it is important to know the quality of their joint venture partners. That's the first thing I would look at. Kerm

To: timester who wrote (10019)	12/23/2003 9:24:09 AM
From: betone	Respond to of 24921

Re: Oilexco a recommendation of (who also selected Ultra under $ 1.50): Resource Stocks Advisory & Struther's Future Tech Report PO Box 1020, Owen Sound, Ont. Canada N4K 6H6 Editor: Ron Struthers Web "http://www.playstocks.net" Oilexco Inc TSXV:OIL Recent Price $1.30 Entry Price $0.86 Opinion - strong buy We already have a nice gain of 50% on this stock, but I believe it is about to go much higher in price, probably as this financing closes. How many little junior oil&gas companies do you know that are able to raise a $30 million financing to go drill some exploration wells? Oilexco announced last week that they anticipate closing, subject to normal closing conditions, on Dec. 23, 2003, the sale of 27,275,000 units. The units were offered at a price of $1.10 per unit and consists of one common share of the corporation and one-quarter of a common share purchase warrant. One whole warrant is exercisable into one common share at $1.65 for a period of two years from the date of issuance. The company has sought a secondary listing on the alternative investment market of the London Stock Exchange (AIM), expected to be effective on Dec. 23, 2003. Canaccord Capital (Europe) Ltd. has, in conjunction with the AIM listing, been appointed as nominated adviser and broker to the company. I think this speaks volumes about the strong oil people out of Calgary behind this company and the quality of their land holdings in the U.K. North Sea. The North Sea is elephant country and there is seldom a chance to participate here in a discovery from a junior as most of the good holdings are held by the seniors. (On August 1st 2003 the British issued licenses to 62 companies for exploration in the North Sea, the largest offering since the late 1980s, but Oilexco was positioned ahead of this). Last summer the Company was awarded three licenses in the 20th Round Offshore Production Licenses in the United Kingdom at 100% interest – two in the Outer Moray Firth and one in the Southern Gas Basin. All of the blocks are on established trends and surrounded by significant hydrocarbon discoveries. Oilexco is going to start drilling the first well just around Xmas and it takes about 20 days to drill the well. From what I understand about their North Sea drill targets, they are pretty low risk and on trend to major oil finds so confidence is very high that they will hit on this first well. Even if they miss, the odds are high that at least one of the first two wells will hit and since they can be drilled quickly, it will not take long to see news on the well logs and tests. From the news release last week - The corporation plans to commence drilling operations on the first well of a two-well program during the week of Dec. 22, 2003, with the drilling of the first well of a two-well program on licence P1042 (100-per-cent working interest), located on block 15/25b in the Outer Moray Firth. A Transocean subsidiary has advised Oilexco the mobilization of the semi-submersible drilling rig, the "J.W. McLean," is to commence on Monday, Dec. 22. Drilling operations would then commence within 48 hours. The second well of the program will be drilled by the J.W. McLean on a separate structure immediately after completion of the initial well. I believe this stock will quickly move higher ahead of the drilling and as this financing is closed. I am looking for a price around $2.50 by early January and after this it will depend on results from the 1st well E-mail:oilexco@telusplanet.net Telephone: (Calgary) (403)262-5441 Website - oilexco.com