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

To: CHRISTINE who wrote (2222)	1/2/1998 11:34:00 PM
From: Larry Sallee	Respond to of 4276

Christine- I really was only taking into account the numbers of swabbers they already have at Luling- I think there are two or three and they could add one more soon. Luling has a few new drill locations to boot and Olex has not reworked any of the existing wells with K30 as far as I know, so some of the wells may surprise everyone. But just taking what is there without much investiment we should see an increasing contrabution to the bottom line. I wish Olex had a 1,000 stripper wells like the 225 at Luling- they will produce for many,many years to come and it is such low tech and cost. Oil out of the Austin Chalk is heavy oil and not the sweet crude that Big Foot produces but hey there is a lot of it in shallow wells aready drilled on 3,000 acres. I would like to see some horizontal testing to increse production- it is risky to reenter a deep well but These are so shallow it is more controlable and less chance of messing the whole thing I am told. Walker Queen should be next and there is 3,000 acres with 140 wells there. I think that means there is room for 100 drill sites??!! I have not found as much on this Field as Revelo but I am looking. IMHO as always , Larry