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

To: Richard L. Williams who wrote (3753)	7/24/1998 11:30:00 AM
From: Steve	Read Replies (2) \| Respond to of 4276

>>Third- the 2,550,000 new shares that were issued by the transfer agent on July 16,1998 in favor of 4 company insiders, in a surprise assault to water down Yarmak's percentage ownership in Oilex, has been rescinded, as of the Directors meeting held on July 21,1998 at Fort Worth, Texas. << The decision for this was made 8 months ago. It isn't much of a poison pill defense since Yarmac would only have to spend an additional apx. $450,000 out of his war chest of apx. $12 million to counter that defense. These shares were issued as compensation for services rendered since none of the board members drew a salary. To really counter Yarmac the company would have had to issue many more shares since they didn't interpreting this as an attempt to thwart Yarmac is pretty lame. Those shares have now been converted to options. There has been no change in management since the board members were not active in day to day affairs. I hope that Yarmac will be able to work with Mr. Burditt and others at Oilex to further develop the oil properties. Since Oilex needs an additional $4 to $5 million to fully develop their properties I hope that Yarmac is willing to invest further in Oilex.

To: Richard L. Williams who wrote (3753)	7/24/1998 1:30:00 PM
From: Marty Rubin	Read Replies (1) \| Respond to of 4276

Just read your post. GREAT GREAT GREAT GREAT. Please repeat a million times (GREAT GREAT GREAT). Thank you all for contributing to this change, including Offie. Yes, "The beginning of the Califtalk era" is here to stay.

To: Richard L. Williams who wrote (3753)	7/24/1998 6:44:00 PM
From: CHRISTINE	Read Replies (2) \| Respond to of 4276

Hi guys, Old blue eyes would have been proud of our Chairman of the Board. If all this is true, we will be getting ONE "HECK" OF A PRESS RELEASE. Now the latest post from AOL is that Omar is being let go. (See below) Just got home, called the TA, and Oilex, both were closed for the day. Events are moving so quickly , lets hope the price follows. Christine From AOL Eight- Omar is being let go by the new Oilex and his excuses for Burditt's actions in running OLEX down hill is all over. Confirmed by a call to Houston. Getting the 2,550,000 shares rescinded is step one. Good work Califtalk.Stay the course. Now the remaining restricted shares issued by Oilex directors to Burditt or his other alias, companies or names, should also be rescinded. The shares were issued with no consideration. This is step 2. The statue of limitations for fraud is usually 3 years. And step 3 is tracing how much of the cash raised by the debentures has been siphoned off by Burditt. And remember Burditt was not a officer or director or employee of Oilex and yet he controlled the daily affairs of Oilex. The cash was not spent to benefit company shareholders and the company directors of the old Oilex can not identify or explain to Califtalk where the cash was spent. The paper trail will now give answers in a short time interval. Justice will be done.