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

To: thomas larkin who wrote (2643)	1/25/1998 1:41:00 PM
From: Richard L. Williams	Read Replies (1) \| Respond to of 4276

I was thinking of buying some, any recommendations, both pro or con. Why is it reverse splitting. Thomas: There is a LOT of information about this company and the people involved in it, in the past 500 messages or so. If you intend on investing a sum of funds into Oilex, you may want to read them over just to get some background. That being said, the stock acted very strongly on Friday. Up 100% from its intraday low at one point, it closed much higher than any of us long-suffering stockholders had hoped it would. The company says the reverse split was to raise the stock price so it can be listed on the NASDAQ Small Caps exchange. You know that would require a stock price of $4/share, so if they're serious, hang on to your hat! Me, I am holding, and holding my breath to see what happens tomorrow and next week. Cheers! Rick

To: thomas larkin who wrote (2643)	1/25/1998 1:45:00 PM
From: edward shapiro	Respond to of 4276

Thomas, As a shareholder of Oilex, there is only one recommendation I have for you and that is to stay very far away. The official reason for the split can be found in the press release. The press release fails to mention all the convertible debenture financing. It was all Reg-S financing. Much of this was converted to stock at favorable terms to the lenders. This diluted the stock. Did the conversions cause the reverse split because they exceeded the authorized shares? Are there still converions taking place? Are there anymore convertibles out there? Are there anymore surpises waiting for the shareholders? (Pumping oil would be a good surprise.) Everyone here would like to know. Only a few people in the world know all these answers for sure and they aren't talking. One other problem. What do you pay for an oil company that can't seem to get the oil out of the ground? I don't know. There are a few big things I didn't mention, but you get the point. Feel free to read the last few months messages and make your own decision. Ed