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Strategies & Market Trends : Joe Copia's daytrades/investments and thoughts -- Ignore unavailable to you. Want to Upgrade?

To: OFW who wrote (3854)	5/31/1998 12:57:00 AM
From: Steve	Read Replies (1) \| Respond to of 25711

Your analysis is meaningless. Keeping authorized shares the same in a reverse is common practice. You better learn some securities law. When a company is engaged in a brand new and unproven method of extracting oil from wells lenders are naturally reluctant to lend money except at exhorbinent rates. Oilex has now proven that swabbing is a viable method and funding will be available under the combined entity Oilex/Caye Chapel to further expand swabbing to all the properties of Oilex and Great Plains. Shareholder dilution is at an end. Financing appears to be assured going forward through the combined entity of Oilex and Caye Chapel. Oilex has no debt and perhaps assets now valued at 32 million. Oilex has about 8 million shares outstanding and a book value of perhaps $4 a share. Even if assets are only valued at $15 million as in last annual report Oilex is valued at a minimum of $1.80 a share.