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

To: Steven Taylor who wrote (3694)	7/13/1998 3:44:00 PM
From: CHRISTINE	Read Replies (1) \| Respond to of 4276

Steven follow-up to one of your questions, and more. Christine Subject: Answers to a Shareholder Date: Mon, Jul 13, 1998 14:40 EDT From: CALIFTALK Message-id: <1998071318402100.OAA23313@ladder03.news.aol.com> CALIFTALK: The White River Dome and the West Virginia properties purchase documents have to be examined Xeric still has rights to White River Dome West Virginia is now reverting back to OLEX CALIFTALK: Meanwhile Xeric has recently filed a lawsuit I have not read the complaint yet I suggested buying out the over ride Xeric has in the oil field close to Midland before we expand production and settle all mutual claims I am returning to Texas next week and will get involved in all the details Xeric did get an extention on the drilling at the WRDome but has not been aggressive yet- CALIFTALK: I filed my second 13D today Only a fool would continue shorting after reading both 13D filings they are trapped- unless some of the larger holders sell and I don't think you will see too much of that right now CALIFTALK: And on Friday after the 13D was executed I purchased heavy again and now hold 3,627,000 shares Today I requested delivery of three certificates totaling 3,600,000 shares, that is a big percentage of the float folks holding see things are changing. CALIFTALK: Today I have not made a purchase as of 10:30 AM Las Vegas Time CALIFTALK: and the volume is slower today evenly balanced between buyers and sellers when will the shorts try to cover- the longer they wait the harder it will be if folks start to toughen up CALIFTALK: Still can not figure out who would be selling with the potential for a real spike on the horizon In my opinion there is very little stock being sold by shareholders. The 1,250,000 shares sold short by the debenture holder at the end of June were gobbled up by me and then they backed away CALIFTALK: Can you request delivery of stock certificates Oh yes I am going to ask them for sure. CALIFTALK: There are no 5% holders except for myself Allan Burditt and Phoenix Resources were caught in the dilution from the reverse split CALIFTALK: Hard to believe that a holder of 20,000 shares purchased at $1 per share for an investment of $20,000 cash last year now has 1,000 shares valued at 25 cents or $250 dollars sure got hacked CALIFTALK: Stepping in today(June and July) with my timely buy stopped the rape of the shareholders, as the stock was going down to pennies and a huge dilution from the $750,000 debenture and a big payday for the shorts CALIFTALK: Now the outlook has changed 360 degrees changed the whole picture- we need a real evaluation of the properties I think you will be pleased with your purchase if you do:) CALIFTALK: No more stocks thrown on the market to bring fear of the unknown. Getting production going on every well is necessary but with current equip and manpower it has not been done Daily field management is lacking. Allan is mostly interested in deal making transactions. That is why I am considering buying a residence in Austin, Texas and getting involved. CALIFTALK: Yes the RRC gets reports on every well and the company maintains a folder on every well there are wells at Luling that have not been touched Luling has 209 wells on 3,000 acres and the two man crew does about two wells per hour thus over a 7 hour effective day working day they swab 14 wells per day ( at normal speed the can get in and out of a well in 20 minutes) then moving time which means a second unit must be placed on the Liling field post haste if the wells are to be kept open CALIFTALK: That means they could visit each well only once per month And the producing wells should be serviced daily and the slow wells should be serviced at least twice per week CALIFTALK: We will get swabbers leased and working on the four producing fields and this will be a priority item the Austin chalk sands you must clean them- swabbing keeps this under control once they are up and going correct to make it a priority. I will just post some of my comments from the IM with the title answers to a shareholder it was my pleasure having the opportunity to talk with you I appreciate your help thank you for what you are doing CALIFTALK: Thank you again for your time Have a good day and hope we both make OLEX into a winner