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

To: CHRISTINE who wrote (3826)	8/7/1998 11:22:00 PM
From: CHRISTINE	Read Replies (1) \| Respond to of 4276

Post from AOL. Subject: Re: The way I see it Date: Fri, Aug 7, 1998 20:07 EDT I hold 20,000 shares of Oilex shares and there fore concerned about the status of the assets of the company. In review, what I believe to be current information. Oilex owns four oil fields with producing fields; Big Foot, to the south and Luling, to the north close to San Antonio,in Central Texas, and Revilo, to the north and Walker Queen, to the south, close to Midland, in West Texas, and collects monthly royalty payments from acreage in Australia, and has potential overrides from leases in West Virgina and Colorado and Utah. The four producing fields have oil field equipment and mobile homes and vehicles that are free of all debt. That the final debentures have a face value of $675,000 and are still outstanding. That outstanding shares do not exceed 10, 600,000 shares and that per the latest 13 D Mr Yarmak holds 3,835,000 shares. That some of the 10,600,000 shares will be rescinded, especially the 3 million pre reverse split shares that are now 150,000 post split shares that were issued to acquire 20 % of ORS that was reversed per the 10 K of PWRX just issued, and that BT Energy, the partnership of Allen Burditt and Oliver Timmins, will return shares and royalty interests to Oilex as they never disclosed the relationship of insider dealings by Timmins acting as President of Oilex and the hidden partner of BT Energy. That Oilex owns and is operating four swabbers, one in each oil field, and that two swabbers are at the ORS factory in Fort Worth, Texas, for repairs and completion. That the missing cash received from the debentures, or a large portion of the assets purchased by Burditt using the debenture cash is being traced and is being recovered for the benefit of the company. That the investigations by the Texas Security Board and the SEC and the FBI and the IRS are concerning the transactions of Allen Burditt. That the actions of Oliver Timmins or the lack of actions by Oliver Timmins in assisting or protecting Allen Burditt is going to be considered in the analysis for responsibility and for the recovery actions as Oliver Timmins signed documents that allowed the transactions of Allen Burditt, acting as advisor to Oliver Timmins to take place and to defraud the shareholders of Oilex and the investors who read the misleading news releases.