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

To: CHRISTINE who wrote (4088)	9/18/1998 9:42:00 AM
From: CHRISTINE	Read Replies (1) \| Respond to of 4276

Subj: the web gets tighter Date: 98-09-18 05:23:48 EDT From: CALIFTALK That missing transaction is what saves and protects the Oilex shareholders. That missing 8 K filing that never happened as the parties did not perform the requirements of a public company. Burditt did what ever he wanted and sucked in the officers of ORS and of PWRX. The record is clear as stated in the news release........Oilex owned 20% of ORS as of Jan 16,1997 in exchange for 1 million shares of Oilex shares. (for the record at that time valued at $1 million dollars) and Sawyer did not become part of the picture until Feb 13,1997.And on March 15, 1997 the shareholders of ORS and Sawyer approved the asset acquistion.That is what the existing Note 4 in the 8 K says, plan and simple!! And there are no other SEC 8 k filings or news release or posted meetings changing that event. Oilex purchased 20% of Oilex prior to the Sawyer transactions. Now the 1,000,000 shares of Oilex received by ORS on Jan 16,1997 in exchange for the 20% ownership in ORS (NOT SAWYER) had a market valued of $ 1 million dollars as of Jan 16,1997, are reduced to 50,000 shares valued at $10,000 dollars as of June 1998.. The loss in value over that period is well understood by existing Oilex shareholders. The Chapter 11 Trustee has the authority to return the situation to protect the shareholders and creditors of Oilex and restore the value in PWRX shares to Oilex, either by getting the PWRX shares owned by Burditt or his dummy corporations rerturned to Oilex or by confirming the recorded transaction. I am certain that the management of PWRX will cooperate to restore the PWRX shares held by Burditt to their rightful owner, the Oilex shareholders. Remember the additional irony, that Burditt ran the double escrow using his dummy company Phoenix Reserves as the middleman and charged Oilex 3,000,000 shares and thus was able to pocket 2 million shares as a hidden profit. And know Burditt wants to grab and keep his share in PWRX that has real value and deprive the Oilex shareholders once again. How's that for gratitude.