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

To: CHRISTINE who wrote (2249)	1/3/1998 9:11:00 PM
From: Ditchdigger	Respond to of 4276

CHRISTINE,to be honest,at this point it is secondary to me. First I have to know how big the pie has gotten,and if it is going to get bigger(increase in authorized shares). An exaggerated example Company X has a billion barrels in proven reserves, but suppose they have a billion shares,well then you still don't have squat for value. I have never studied a company going into existing fields(I'm in a couple of E&Ps-My personal favorite right now is ROH-vc,soon to be(Mon.)ROH-t they have a 25% interest in 2 contract areas in Columbia First well came in over 4000bopd,they are currently drilling a second step out well-there is a thread here on SI-sorry for the hype) I'm still adjusting to a well with production of under 100 bopd<g>, but can see value if you have a bunch of them,that can produce cheaply..DD