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

To: Larry Sallee who wrote (3027)	3/24/1998 1:37:00 AM
From: Steve	Read Replies (1) \| Respond to of 4276

Larry, My understanding about wells 1 and 2 in Big Foot that max. flow rate under virgin pressure was at about 400 bbd with likely ranges from 75 to 300 depending upon what the TRRC would allow. My comment on lifting costs were for other existing wells not the new wells at Big Foot.

To: Larry Sallee who wrote (3027)	3/24/1998 2:13:00 AM
From: Steve	Read Replies (2) \| Respond to of 4276

Good News!! Mexico, Venezuela and Saudi Arabia reach accord to cut production. Pledges from these three producers and others now total almost 1.1 million barrels a day. This puts a dent in worldwide oversupply of about 2 million barrels a day. Crude prices are recovering and so should the little drillers' stock prices. Caye Chapel is moving ahead in the right direction to acquire OLEX before oil prices climb much higher. Gives one pause to consider what Caye Chapel will be worth in the next few years when worldwide demand for oil will approach 90 million barrels per day. Yahooo! the oil patch is back! well almost. As oil prices climb, production shifts from cheap producers to more costly producers, as their oil becomes economic to again pump. The Saudi's are desperately afraid of oil prices getting too high but at some point world demand will overwhelm their ability to control prices by turning the oil spigot. That day is coming and will mean increased US domestic production and exploration. Caye Chapel is trying to build a company that will be positioned to exploit that future opportunity as well as, produce today, economically.