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

To: Steve who wrote (3021)	3/23/1998 8:43:00 PM
From: Richard L. Williams	Read Replies (1) \| Respond to of 4276

Steve-- Did you happen to visit the Oilex web page tonight? It has received a face lift, and the latest news release is about the talks with Caye Chapel. Check out oilex.com I noticed that Allen Jones' name is not on the latest news release, and that the Baron no longer offers a toll-free number. Not major news, but that was all that caught my eye at the web site. Here's to happy days! Cheers! Rick

To: Steve who wrote (3021)	3/23/1998 10:17:00 PM
From: Larry Sallee	Read Replies (3) \| Respond to of 4276

Steve- I don't think the big foot wells will produce 1600 bbrls a day- the average for the field was around 75 with some toping 200- I don't have any figures on the new wells but they are more likely to fall into this range. That said, there are a lot of new drilling locations setout by the first 4. About the $2,000,000 for swabbers- it was a line of credit not a 2 mill loan- they can use what ever part needed as the swabbers are available. From what I understand wells one and two have no lifting costs they are flowing under natural pressure - I believe 3 and 4 are as well, no new report out on them but they started out that way in the news release- I would encourage anyone looking to review as much of this string as possible- I have in the past posted a lot of locations relating to the other fields- it seems all this is lost in the fog. HCM continues to drill on it's property next door. My count of the Swabbers is 7 + two older ones that came with Luling. It is my understanding that Luling is adding to production along with Big Foot, Walker Queen and Revilo. For anyone who doubts that rain can hinder the swabbing, you should take a look at the record rainfall in the West Texas oil patch- that is a big topic for everyone trying to get rigs in and out-wells completed or fracted. Hope this helps- IMHO only Larry