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

To: Larry Sallee who wrote (2241)	1/3/1998 2:51:00 PM
From: Ditchdigger	Read Replies (1) \| Respond to of 4276

Thanks Larry,but there is a major problem with your figures.$18 a barrel is not a realistic number to use,generally $4.00 to $10.00+/- is used to calculate your "proven reserves". How is this oil being transported? How will it be transported in the future, when bopd increases? What is the cost of producing this oil? <you have a calculator what does it add up to??$$??-> We may need one to calculate the number of shares to be authorized to cover converting. Would 10¢ a share be a good share price to use for the calculations? I believe conversion price is 80% of the 5 day market avg? Thus $1,375,000x.10=13,750,000 additional shares. Now if there has been converting at a lower price-this share count will go up exponentially. Conversion at 5&#162 would give you 27,500,000 and so on. What do you base this on<it is just a thought but I think the days of Reg S are over for Oilex.>? Are you talking about future placements? TIA..DD