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

To: CHRISTINE who wrote (4049)	9/11/1998 7:30:00 PM
From: Steve	Respond to of 4276

Saul whined, "And the claim is that the asset that Oilex purchased for $3 million dollars of stock is the company that had the assets but now the assets are gone, but the principals are still in business using the same name and have all the assets." But Saul Allen swapped Sawyer Adecor/ORS stock not PWRX/ORS stock for Oilex stock. Since the assets were withdrawn from Sawyer Adecor for cause how can you complain? You're like a little boy who doesn't get his way. The judge is not going to let you have your toys since you can't prove ownership of what you are envious. You can have 20% of Sawyer Adecor, though, maybe you can take them into bankruptcy too since that seems to be the only thing your good at. Now go stand in the corner and repeat one hundred times "I have to respect other people's property" Good boy. BTW they are different companies, got it? Okay. Good boy. Now curl up in the fetal position and suck your thumb.

To: CHRISTINE who wrote (4049)	9/11/1998 7:31:00 PM
From: Steve	Respond to of 4276

Saul babe, I represent myself but I can't allow you to lie to the investors and try to harm PWRX so you can get what you want. If you can't follow the reasoning then its time you drop out of the game. Burditt is the one who screwed up the Sawyer Adecor transaction. He left Oilex with a worthless certificate. You can't stand it. When it suits your fancy Burditt is a financial genius when it doesn't he's a crook. Which is it Saul genius or crook?

To: CHRISTINE who wrote (4049)	9/11/1998 7:34:00 PM
From: Steve	Respond to of 4276

Saul is not a naive, trusting investor he is a savvy, skeptical and perhaps devious investor. I think he smelled a rat at Oilex and planned his takeover and subsequent actions very carefully. He is pleading innocence and that all that he has done has been necessary because so much was hidden. I think he knew about most of the things he is now saying he has just "discovered" perhaps not in detail but in the broad general outlines. As a savvy investor Saul would not venture into the BB Dealer market to waste his money if he didn't have a game plan beforehand. Did you know that Saul refused Burditt's offer to go over the books before he purchased his majority share in Oilex? That Saul had visited the Oilex offices 6 months prior to investing. That Saul had been posting about Oilex and Titan since 1/12/97. And that every post was negative and derisive of Oilex and its management. The only reason that Saul invested in Caye Chapel was to get a foothold as a shareholder once he gained control of Oilex. He was after the 800,000 shares of PWRX held by Churchill Resources a part of Caye Chapel. This being Caye's sole asset. He knew that there was a money connection between Phoenix Reserves and Churchill Resources and by deduction Caye Chapel. He knew he would have to forge a money trail link from Oilex to Phoenix to Churchill to Caye to get the 800,000 shares of PWRX. He can claim in his petition that he has real interests to protect and that since there is a clear money trail leading from Oilex to those PWRX shares and that he has a fiduciary duty to recover those shares as part of an overall restitution to Oilex in his capacity as President of Oilex. Now he is claiming that the ORS/Oilex deal that was unwound in June of this year can be wound back up if the courts agree that Oilex Board approval was needed to unwind it but that requires that the management contract between Allen Burditt and Oilex be ruled invalid by the courts as Saul claims that it never existed. If the management contract is ruled valid and since it granted Burditt broad discretionary powers over day to day management of Oilex then Saul must argue negligence or fraud to get the deal wound back up, a much more difficult and time consuming process as it could require several civil trials to determine all the facts in this case especially if the bankruptcy judge decides that in some matters tangential to the bankruptcy are not within the court's jurisdiction. But the real kicker in this is that there are two ORSs. The first was Sawyer-Adecor ORS. This company was to be a vehicle for going public but was unwound but before it was Burditt representing Oilex through Phoenix Reserves bought 20% of Sawyer Adecor stock in exchange for 1 million shares of Oilex. Burditt never unwound the deal with Sawyer Adecor to get the Oilex stock back but the Oilex stock was held by Titan now PWRX in trust (I believe) for Sawyer Adecor. When the deal was unwound in June then the certificate for ORS Arizona Sawyer Adecor stock was presented by PWRX formerly Titan formerly ORS Texas to Sawyer Adecor to cancel and return to Sawyer Adecor's treasury. Saul's claim to 20% ownership of PWRX based solely upon the certificate returned is clearly without merit. The confusion arises because of the two identical names but corporations operating in separate states.

To: CHRISTINE who wrote (4049)	9/11/1998 7:35:00 PM
From: Steve	Read Replies (1) \| Respond to of 4276

Saul, There are two ORS's, ORS Arizona or Sawyer Adecor and ORS Texas. It is ORS Texas that became Titan. Oilex purchased 20% of ORS Arizona and never owned ORS Texas. The deal that was unwound returned the ORS Arizona stock for cancellation to Sawyer Adecor. If you want to wind up the deal Oilex can own, again, 20% of Sawyer Adecor. Is this what you want? <g> Let me know when this gets a bit too confusing for you. Perhaps you should get on with running Oilex rather than spending good money chasing bad. You just finished prosecuting a lawsuit that prevented a whole $90,000 of stock from flooding <g> the market. How much did the lawsuit cost? Now you are running around trying to serve people in this same civil matter, spending money daily, while they are dodging your process servers, if you've hired any, or are you still using the convicted felon Stanley to serve papers, and not paying attention to running Oilex. How long before the TRRC will be given notice that Oilex is in trouble. Have they been informed of the bankruptcy petition? We're still waiting for adequate notification of bankruptcy. Internet postings don't count. The SEC still hasn't received the informational 8-K filing on Oilex's bankruptcy I believe you have until the 19th to give notice to the SEC. The question remains in my mind whether your bankruptcy petition is valid on its face. You claim that you didn't know the financial health of Oilex until you looked at the books. How is this possible when you posted on 1/12/97 on this very same board that Oilex was a "sucker play". And you stated recently that you have no experience in the oil patch but you stated in that same 1/12/97 post that you lost big in the oil patch in the 1960s. Also, you've been in almost constant contact from 1997 on with the shareholders or former shareholders. You've read the posts from late 1997 to mid 1998 that detailed that there were likely insider deals of a beneficial nature only to the insiders. And again in early 1997 you posted on this same board that the insiders would benefit before the shareholders. You come into Oilex buying heavily at an average price of around 16 cents and buy up over 30% of the company and you say you were naive that the great Saul Yarmak savior of BXI was taken in by the big old mean Allen Burditt? That is so ludicrous that I am surprised that anyone believes you anymore. I contend that you were not surprised by any of your discoveries but that you have used them to shield your assets before you invest further. To shield your assets you must declare bankruptcy but you must produce enough creditors for it to be justified. But the fact that you are funding lawsuits apart from the bankruptcy is not a good sign for the bankruptcy judge. And the fact that you are recovering so few assets is another bad sign. You are seeking to recover perhaps $500,000 from Burditt's personal property and you are desperately trying to attach the 800,000 shares of Power in Churchill Resources. I contend that you bought into both companies to gain control of a good asset base and file bankruptcy and claim later that reorganization wouldn't work and then liquidate Oilex. You are already planning the sale of some Oilex properties I'm just wondering what's next. Come on Saul give it up you're driving Oilex into the ground the shareholders deserve better than this.

To: CHRISTINE who wrote (4049)	9/11/1998 9:24:00 PM
From: Richard L. Williams	Read Replies (2) \| Respond to of 4276

Hi, Cristine-- Interesting post on oil production and use in th U.S.: Message 5728781 I was appalled to see how we are becoming more reliant on foreign oil. I hope that Oilex will survive to provide a small amount of U.S. oil when prices recover. I suspect that won't take too long....this will be a long and brutal winter, and that always does good things to the price of oil. We just have to hang in here. Cheers! Rick