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

To: Ajay who wrote (3744)	7/23/1998 12:24:00 PM
From: Steve	Read Replies (1) \| Respond to of 4276

>>we would have been headed for more dilution and another reverse split. << With 50 million authorized shares and only 13 million outstanding I don't think a reverse split was likely. Considering the continuing cash infusion from Caye Chapel. The reverse split early this year was necessary because the stock had been shorted to almost zero and Oilex had run out of cash drilling the wells at Big Foot. Either you fold up shop and let the stock get de-listed or you do the reverse and grit your teeth and move ahead. Management stayed the course and protected your investment and if you had confidence in management then you would have averaged down. Obviously you had some hope for the future because you averaged down. Yarmac is no saviour of Oilex. He's looking at severely undervalued assets but he doesn't realize that it will take upwards of $4 million to fully develop those assets. He's see a chance to make a huge profit down the road and cares very little about the little shareholders. >>Just like the debenture you thought wasn't out there, right?<< I never said a debenture wasn't out there I had on good authority (not Oilex management) that a "white knight" had bought up the debentures and was going to hold them as notes with a coupon. >>I have no doubt that there is oil there. It just has always boiled down to one thing: competency of management. << What everyone fails to understand is that management has been innovative in its application of portable production swabbing. This is a new lifting method and Oilex and ORS have perfected the techniques necessary to make it an economic lifting method. It has taken over 2 years to put in place the management techniques necessary to make portable production swabbing effective. It has been a painful learning experience but one thing is true, current management is competent and innovative and forward looking. >>Confrontational is fine, insulting is not. << When someone is an idiot, not you, there is no cure for it, it is a permanent condition. God may suffer fools I don't have to. :)