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

To: CHRISTINE who wrote (3992)	9/6/1998 9:00:00 PM
From: CHRISTINE	Read Replies (1) \| Respond to of 4276

From: (CALIFTALK) From AOL Burditt still holds 9 1/2 million shares of Caye Chapel. He received 10,700,000 shares as part of the Churchill Resources merger with Caye Chapel and a number of shares when he had Warren Soloski, (the attorney) purchase the clean empty shell with 4,300,000 share outstanding. Certainly as the Caye Chapel shares traded from their high in Feb 1998 to the current low of 4 cents, Burditt was pumping the stock and selling into the market, again without reporting his sales as required. Great Plains is not an asset, but a LIABILITY. The Texas Railroad Commission has been stalled by the prior holders as to the capping of 1,500 wells at approx $2,000 per well. The total cost is tremendous and will be a burden on the State sooner or later, as the prior owner went bankrupt after salvaging all the valuable equip, and the current owner has not produced any oil during the past 18 months and is only waiting to pass the liability to a promotor like Burditt. No one in their right mind wants that responsibility. The promotor sets up a dummy corporation and pumps the story that huge potential oil is in the ground and plans to strike it rich when the stock prices goes up. And at the end the investing suckers get taken and the State of Texas is stuck with the plugging cost. But the promoter gets rich and society pays the tab. The truth in regard to Caye Chapel is a sick transaction by a promoter who failed when time ran short as Oilex control was prematurely taken away from him. The script is the same; buy a clean shell, sell an asset for millions of shares to the shell, pump with news releases, create a market as you churn the stock to high prices,dispose of the shares to the investors taken by the news, and then start the cycle again with a new shell company with a new story.Then enjoy your profits with lavish living which creates the image that the promoter is wealthy and does not need to cheat and lie to survive. And the lavish living attracts assistants and professionals that want to share the rewards. Stock promoters give glowing reports and hype in exchange for shares that can be sold for huge profits. And the investors again experience a scam. They believed that the written news releases were honest as the SEC is in place to guarantee the securities market is honest. The SEC is over loaded and can not prevent the scam. Over a period of time the SEC finally will complete a file and bring an action. Caye Chapel can not even cover a $1,000 check. They have no employees and no active office. The last four Directors placed in office by Burditt want "out" when they discovered that Burditt was using their good names as a tool to fool investors. Now you have the Caye Chapel story.