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

To: FARRIS who wrote (2269)	1/5/1998 9:07:00 PM
From: Ajay	Read Replies (5) \| Respond to of 4276

My eyes are open Farris. Shares have been diluted - that's a fact. I understand that. But the value of the company has not decreased, rather it has increased. Do you agree that the BV is at least $9M (off the 10Q)? If so, then the MV is substantially less ($45M x .07 = $3M). That's what I'm looking at. The debentures were done to finance the drilling. The drilling program has started and CF has begun - this is CF they did not have that they could not use before to drill the wells. This is very important to consider. Any company beginning substantial operations that requires a lot of capital has to raise the financing somehow. Unfortunately small companies don't have as many options as larger one do. I definately would have preferred it not happen this way either but it has. I don't expect that additional shares would have to be issued for more drilling - they can fund that with ongoing drilling. I'm looking at the value of the company and the reserves that are being proved each day. Respectfully, Ajay