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

To: Marty Rubin who wrote (2746)	2/11/1998 6:22:00 PM
From: OFW	Read Replies (2) \| Respond to of 4276

OILEX FILES 8-K TO SEC: ISSUES 93,500 WARRANTS. Listen,Guys, I'm not responsible for making this stuff up, I merely post what the company files to the SEC. Please note the filing does not reveal the terms of the warrants, i.e. how many shares each warrant is entitled to receive. Any one of you with warrant experience might wish to comment. Hey, at least it's not a debenture. Offie TYPE: 8-K SEQUENCE: 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): September 8,1997 OILEX, INC. (Exact name of registrant as specified in its charter) Commission File Number: 0-28686 Nevada 33-01944489 (State or other jurisdiction (IRS Employer of incorporation or organization) identification No.) 3050 Post Oak Boulevard, Suite 1760 Houston, Texas 77056 (Address of principal executive offices) (713) 629-5998 Registrant's telephone number ITEM 9. Sales of Equity Securities Pursuant to Regulation S. On September 8, 1997, the Company issued 93,500 warrants to acquire common stock (pre-reverse, 4675 post-reverse) in the company at an exercise or purchase price of $0.48 per pre-reverse share ($9.60 post-reverse share), which right of purchase will expire, if not exercised, on August 31, 2002. These rights were issued in recognition of services rendered to the company. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.Dated: February 10, 1998 OILEX, INC./s/ Oliver Timmins, IIIOliver Timmins IIIPresident

To: Marty Rubin who wrote (2746)	2/13/1998 8:25:00 PM
From: Richard L. Williams	Read Replies (2) \| Respond to of 4276

Marty-- There may be hope, yet! <ggg> I just lifted this from the Oilex web site, what do you make of it? >>Currently infield well number 3 (CR.Thompson 6-17) has been producing fluid. It will approximately take 2 to 3 days before a true flow rate can be determined, the reason for this is that when the structure underneath was fractured approximately 70,000 pounds of permeable sand and 8,000 barrels of frac gel was forced through the structure,until the frac gel flows out completely we can not determine a flow rate. We will also open up Meadors #4-8 and will have a flow rate on it in approximately 5 days (weather permitting). << I am not into drilling so the lingo is a bit foreign to me...what is "frac gel"? If it is as thick as it sounds, it might take a few days to get up 8k bbl, methinks. To recap, we have #1 doing quite nicely, #2 producing with the aid of a swabber, now #3 is flowing, rate not known, and we should have a rate on #4 in a few days. Looks like Bigfoot is really coming through! Happy hunting! Rick