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

To: Richard L. Williams who wrote (2909)	3/7/1998 6:41:00 PM
From: Steve	Read Replies (2) \| Respond to of 4276

>>As far as the debentures being purchased and not converted, ... to what do you attribute Oilex' steep decline in stock price in the past weeks, if not due to debenture conversion and sales? The price of the debenture conversion is known to MMs. Successive shorting makes sense since the dates of option activation and share volume can be bloated by illegal shorting. The MM action gives the illusion of debenture conversion and could shake shares loose as well. Since the share price has recovered on Friday, it recovered because Chappel was in the market, we might expect to see another walk down if the MMs have debenture conversion cover to do so. Caye Chappel has only committed to a total 16% interest in Oilex or 560,000 shares. The other volume must be illegal trading by MMs and other shares being shaken loose.

To: Richard L. Williams who wrote (2909)	3/8/1998 12:40:00 AM
From: Steven Taylor	Read Replies (2) \| Respond to of 4276

Flow rate reporting. After the well is completed, it is flow tested for 72 hours to determine the flow rate at choke settings and to calculate open flow potential. This is done by independent testing companies. The report is filed with the Railroad Commission which then determines production allowables based on spacing and open flow potential. The Texas Railroad Commission has a web site where you can search completion reports and production reports. It is generally kept current. If the information is not there, then call the petroleum reporting companies such as Petroleum Information or Dwights Information. They have all records of reports that are kept current daily. They sometimes beat the railroad commission in reporting production and completion reports. As to time of production to revenues generally takes 45 days. 30 days production and 15 days payment. If they are any good at contract negotiations they can get a higher price than spot market value. I hope this helps. SteveT