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Microcap & Penny Stocks : OILEX (OLEX) -- Ignore unavailable to you. Want to Upgrade?

To: baron-marney who wrote (1872)	12/10/1997 3:09:00 PM
From: Prudent Investor	Respond to of 4276

baron The exact business card that I am in possession of reads as follows: OILEX, INC Allen L. Burditt, II Tel: (713) 629-5998 The Lakes on Post Oak Fax: (713) 629-5773 3050 Post Oak Blvd., Suite 1760 Website: tawd.com Houston, Texas 77056 Maybe you should get your facts correct. I will be happy to fax you a copy of it, if you so desire. Russell K. Smith Five Post Oak Park Suite 1260 Houston, TX 77027 Still a "Prudent Investor"

To: baron-marney who wrote (1872)	12/10/1997 4:31:00 PM
From: Prudent Investor	Respond to of 4276

To the baron "And now for the rest of the story". I am very happy that an "official representative" of Oilex, Inc. has stated for the record that "He (Burditt) is not part of corporate management". Why don't you ask Mr. Burditt why he told me and at least two other individuals that he "controlled" Oilex? Ask him if he has, or has had, the power to hire and fire employees. Ask him if he has, or has had, the power to negotiate financial transactions for Oilex, Inc. (such as issuing shares of stock for properties). Ask him if his PERSONAL office is located at 3050 Post Oak Blvd., Suite 1760, Houston, TX 77056. You might want to ask him if his "considerable experience in the oil industry" includes selling interests in wells on property that includes the "Wilson Leases" in Jefferson County, Texas prior to his involvement in Oilex. Then you might want to look at Phoenix Reserves' acquisition of 8,685,378 shares of Oilex, Inc. and what was given by Phoenix Reserves in exchange for those shares. These should prove to be some interesting points in the near future. I was never a "close personal friend of Mr. Burditt over many years". Mr. Burditt dated a long time friend of my wife and mine. In that capacity,he had occasion to see me at social functions and dinners. I would estimate that number to be 10 or 12 times a year. He accompanied his girl friend on 2 occasions to visit us in our home in Hawaii. He was never personally invited. He was tolerated because of his relationship to our close friend. You have referred to a proposed business transaction between Oilex and myself. I cannot express to you how happy I would be to provide ALL of the details of that proposed transaction. I have extensive documentation. There are a number of extremely credible witnesses who would be very willing to testify, under oath, if necessary, to virtually all of the negotiations concerning that transaction. Therefore, when you receive the "requested documentation on the transaction from Oilex which reflects your part in the transaction and will share when we receive", please make certain that you post it publicly on the thread. I am all for getting everything out in the open. You are right about one thing, baron. People who live in glass houses should be very, very careful about throwing stones or, even, having someone shine the light on them. Ever Prudent

To: baron-marney who wrote (1872)	12/11/1997 8:49:00 AM
From: OFW	Respond to of 4276

Baron: It appears that Mr. Burditt has kindly offered to forward to you for posting here on SI, documents concerning his involvement with Prudent Investor in previous proposed business transactions between the two parties. Could you ask Mr. Burditt to also include in that packet of documents necessary to answer the following questions: What exactly, (with specific line-by-line detail requested), did Oilex receive in value from Phoenix Reserves in exchange for the issuance of 8,685,378 (or is it 10,919,220, or is it 14,412,220) shares of Oilex stock? The 10SB12G filed by Oilex to the SEC on August 13, 1996 states the following: On October 31, 1994, the Company issued 10,919,220 shares of common stock in exchange for oil and gas leases in Jefferson County, Texas. This acquisition effectively transferred control of the Company to Phoenix Reserves, Inc. ("Phoenix"). This transaction made Phoenix the largest stockholder of Oilex with 63.1% and 64.6% ownership of the outstanding common stock at December 31, 1995 and 1994, respectively. The NV/10SB12G filed by Oilex to the SEC on August 5, 1997 states: During 1996, the Company purchased oil and gas properties and tangible equipment from Phoenix in exchange for 3,500,000 shares of Oilex common stock. Baron, I must admit that I am somewhat confused. Exactly how many shares of Oilex common stock have been transferred to Phoenix Reserves, owned 100% by "consultant" Allen L. Burditt, II? Is it 8,685,378? Is it 10,912,220? Is it 14,412,220? Is it some other number? If it anything other than 8,685,378 as reported in most recent SEC filings, could Mr. Burditt explain what has happened to the balance of the shares for which there appears to be no accounting? If they were in fact issued to Phoenix and then sold, were disclosures made of those sales either to the SEC (Form 144s) or direcly to investors by any other public release of information? I'm sure Mr. Burditt will be most willing to include documents to respond to these questions when he forwards to you the other documents concerning the Prudent Investor. Many thanks for your continuing effort at providing information to past, present and potential future shareholders. We appreciate your efforts at increasing the level of communication. Offie P.S. Perhaps Mr. Burditt could tell us if he was, either personally or as a consultant to Oilex, involved in any manner in the negotiation or implementation of any of the above share transfers from Oilex to Phoenix Reserves, a company 100% owned by Mr. Burditt.

To: baron-marney who wrote (1872)	12/11/1997 10:40:00 AM
From: Prudent Investor	Respond to of 4276

To the baron: I noticed in your post to me that you gave an incorrect address for me, which I have since corrected. The interesting thing about that incorrect address is the suite number. You gave it as "Suite 1760". That suite number does sound familiar, though. I wonder where I have seen it before? Oh, now I have it. THAT IS THE SUITE NUMBER OF OILEX HEADQUARTERS. Could it be that your "source" at Oilex had a freudian slip and gave his own personal office suite number? You know, that individual who is not "part of management"? Just curious.

To: baron-marney who wrote (1872)	12/11/1997 1:48:00 PM
From: Prudent Investor	Respond to of 4276

To the baron: Giving you the benefit of the doubt, I am going to assume that you are merely na‹ve. In your posts, you have given the indication that Mr. Burditt is not a member of management, exercises no control over the daily operations of Oilex, and does not actually have an office at Oilex corporate headquarters but only receives mail there. I have been to Oilex corporate headquarters. I have seen and been in Allen Burditt's "personal" office in Oilex corporate headquarters. You might want to take a trip to Oilex headquarters and see for yourself whether or not Mr. Burditt has a "personal" office there. Yesterday, prior to your "glass house" post, Allen Burditt called my wife at our home. He asked her to intercede with me to "stop this shit" (his words, not mine). She hung up on him. He then attempted to contact me at my office, even though he has been advised that all communication that he has for me should go through my attorney. When told that I was unavailable, he left a message to return his call. Do you want to guess the telephone number he left where he could be reached? It was (713) 629-5998. Does that sound familiar to you? It should. It is the main number for Oilex corporate headquarters. However, he is not supposed to have a personal office there, right? You may want to look up the July 16, 1997 press releases (2) dealing with the acquisition of the Australian royalty interest. Please note the Contact at the bottom of both releases. Allen L. Burditt, II of OILEX, Inc. (713) 629-5998 Notice that it does not say Allen L. Burditt, II for OILEX, Inc., or Allen L. Burditt, II, Consultant to OILEX, Inc. IT CLEARLY STATES: ALLEN L. BURDITT, II OF OILEX, INC. Does this sound like someone who is "not a part of management"? I do not believe that you have conducted a thorough examination on the background of your client and "related parties". If you look at post-number 1405 on this thread, you will see that I posted a letter of questions concerning Oilex and "related parties". This letter raises a number of questions that have not been addressed by the "management" of Oilex. I believe that you would be well advised to research the answers to those questions yourself. You might find the answers enlightening. I believe that several other individuals who follow this thread have conducted their own investigation and found revealing answers. You may question my "motives" all you want. You may accuse me of having an "agenda". I do not admit to any ulterior motives or any hidden agenda. However, it makes no difference what my reasons for asking questions and posting information are. The things that are important are the relevancy and pertinence of my questions and information and the truthfulness of the answers by the representatives of the company. It is my impression that a "representative" of a company purporting to answer for the company has a duty to make a reasonable effort to ascertain the validity of its assertions. Just my opinion, not meant to offend. Ever vigilant Prude Dude

To: baron-marney who wrote (1872)	12/15/1997 12:59:00 PM
From: OFW	Respond to of 4276

Baron: In your post 1872 you said you would be posting information you had requested from the company regarding the proposed business transactions between Oilex and Prudent Investor. "We have requested documentation on the transaction from Oilex which reflects your part in the transaction and will share when we receive." Have you received it yet? If so, when will you be posting this information? Offie

To: baron-marney who wrote (1872)	12/18/1997 10:13:00 AM
From: OFW	Respond to of 4276

Baron: You have ignored my question to you in Post 1960: To: +baron-marney (1872 ) From: +OFW Monday, Dec 15 1997 12:59PM EST Reply #1960 of 2055 Baron: In your post 1872 you said you would be posting information you had requested from the company regarding the proposed business transactions between Oilex and Prudent Investor. "We have requested documentation on the transaction from Oilex which reflects your part in the transaction and will share when we receive." Have you received it yet? If so, when will you be posting this information? Offie