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

To: Richard L. Williams who wrote (2651)	1/27/1998 2:51:00 PM
From: OFW	Read Replies (2) \| Respond to of 4276

It's hard to re-orient yourself when watching this stock after the reverse split. We have to remember now that the volume is really 20 times higher than it appears. So, if a 5,000 share block sells at .60 --- that trade is really equivalent to a 100,000 share block being sold at .03. Anybody talked with the company lately? Offie BTW I got my copy of the January 23, 1998 Letter to Shareholders in the mail as I assume all of you did as well. I noted, with interest, that the company can't even sign an individual's name on a letter to their shareholders. The closure to the letter (same text as was posted previously) merely reads: Sincerely, BOARD OF DIRECTORS AND MANAGEMENT OF OILEX, INC. I've gotten my share of "Letters to Shareholders" from various companies. I have NEVER seen one before which didn't include the name of the officer or director responsible for the letter and that person's signature. Very interesting!

To: Richard L. Williams who wrote (2651)	1/27/1998 3:30:00 PM
From: Jim B	Respond to of 4276

Anyone seen this or have comments?? seems interesting.. Tuesday January 27, 2:54 pm Eastern Time Company Press Release SOURCE: OILEX, INC. OILEX Announces New Symbol and Cusip Number HOUSTON, Jan. 27 /PRNewswire/ -- OILEX, INC. (OTC Bulletin Board: OLEXD - news) announced today that it has now received a new trading symbol (OLEXD) as well as a new cusip number (678034 20 8) in conjunction with the 20 to 1 reverse stock split it announced on January 9, 1998. OLEX also announced that the new infield wells Biedeger #1-19 & C.R. Thompson #9-9 which are located in the Bigfoot Field are now online and in production. The Biedeger #1-19 is flowing by itself & the C.R. Thompson #9-9 is flowing with the assistance of swabbing. OLEX has also completed the logging, perforating and fracing of the C.R. Thompson #6-17 & Meador #4-8. Both of these new infield wells should be online within a few weeks. OLEX has plans to drill additional new infield wells at Bigfoot directly and on a participation basis with the four it has already drilled. In related news, OLEX management unwound its agreements with privately held Geronimo and the two year option to acquire 40% of Titan Energy Corp., Inc. Both of these transactions would have added $21.5 million in debt to the OLEX balance sheet. OLEX management believes that while in a developmental stage status, and upon the advise of its investment banking consultants, taking on the debt would have endangered the growth curve the company has historically experienced under current management. Even though OLEX has unwound its agreements with TANC, OLEX still has the 1/2 of 1 percent overriding royalty interest on the 13 million +/- acres in Australia that TANC owns. OLEX also has kept the first right of refusal on swabbing units built by Oil Retrieval Systems, Inc. a wholly owned subsidiary of TANC. This news release includes forward-looking statements that involve risks and uncertainties. The forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities litigation Reform Act of 1995. Actual results may differ materially due to a variety of factors, including without limitation the company's ability to produce and market products and/or services and other risks detailed from time to time in the company's reports filed with the Securities and Exchange Commission. SOURCE: OILEX, INC. ------------------------------------------------------------------------ More Quotes and News:OILEX INC (OTC BB:OLEXD - news)Related News Categories: oil/energy

To: Richard L. Williams who wrote (2651)	1/28/1998 6:10:00 PM
From: Marty Rubin	Read Replies (1) \| Respond to of 4276

Richard, (Regarding: "I am really starting to rue the day I heard of this company.") What on target! After selling most of my holdings this week with the intention of never looking back at this stock, I started to think what brought me in to this crap in the first place. Thanks for the SI, I was able to print (2 prints) all of my postings on the SI ever since I started (Nov. 21, 1996). I have estimate it to be over 1200 pages or 600 posts. I went over them a little and started to see my mistakes and how little had changed (hype, hype, hype). I will put all these pages in a folder (as a diary, perhaps) and go over them as many times as I have to, to see what I have done wrong so this mistake MAY NEVER BE REPEATED! Eric, (Re: "About TANC, it sounds like OLEX with the amount of future revenues. Guess we have to wait and see the bottom line" Post #2661. ) The same thing that hit you, hit me too. The same "management" is running both companies. When I read that press release I started to thing: "This is the same guy who sucked me in when he advertised those 'great' projection (of course, from very 'reliable' sources--the kind of sources no one even butters to check) in Investor's Business Daily and other newspapers. If that guy had never changed then why am I still in his stock?" Isn't obvious from Baron and Omar that without him the company doesn't worth its living? If he is treated as a savior then he is getting a king's welcome everywhere he goes--Not bad for a "consultant," ha?! "Yes sir, yes sir, say all of Oilex's employees as the master walks in." I still have a small amount in Oilex but it is not because I think the company is great and the stock may go higher (for the past 3 years the stock went up without the company being great), but because I simply don't need any more tax-losses. If my other stocks prove profitable over my expectations then I will sell to mach them up. I see Oilex as selling at $0, or $0.000000, or $000,000,000.00. I expected too much form this company, I gave them time to change. But I have been expecting too much. I realize that this post today is considered negative and may cause you to sell. I ask you to please rely on your own judgment rather then some person's who expresses his opinion/actions on the SI. Good-bye BB, halo big cap. With a little extra homework it is not so difficult to find a good company to give me great returns. Stocks are always a gamble, but the trick is to gamble at a lower risk. Lower risk with hi returns is something that is hard to accomplish. Wish me luck! (Business Week had a great report on mutual funds this week, February 2, 1998. The good part about them is that they measured each mutual fund according to their annual returns AND risk factor. The higher return and lower risk gets the higher ratings. Check them out at businessweek.com and go down to "Special Report.") Good day, Marty