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

To: baron-marney who wrote (4138)	12/22/1998 3:58:00 PM
From: baron-marney	Respond to of 4276

FACT: (7-20-98) OLEX stock has high of .50 and close of .47 FACT: (7-21-98) new management lead by Saul Yarmack took over Oilex FACT: (9-3-98) OLEX stock has high of .20 and close of .18 FACT: (9-3-98) new management lead by Saul Yarmack filed for CH.11 bankruptcy protection FACT: (10-1-98) OLEX stock has high of .13 and close of .13 FACT: (10-1-98) new management lead by Saul Yarmack loses Walker Queen oil field - loses over 125 well bores - loses over 6 million in recoverable oil - is exposed to over 1 million in plugging costs for Walker Queen oil field. FACT: (12-21-98) OLEX stock has high of .9 and close of .7 FACT: (12-21-98) bankruptcy judge forces OLEX into CH.7 bankruptcy and liquidation (see SI post # 4138) FACT: (12-22-98) OLEX management lead by Saul Yarmack has not notified investors of CH.7 as of this thread. The Baron

To: baron-marney who wrote (4138)	12/22/1998 4:02:00 PM
From: baron-marney	Read Replies (3) \| Respond to of 4276

On December 21st, after review of all titles and documents, the U.S. Bankruptcy court ordered Oilex to return approximately $200,000.00 in oil field equipment to Phoenix Reserves, Inc. The U.S. Bankruptcy Court acknowledged Phoenix Reserves, Inc.'s $1,559,910.00 proof of claim, with all required back-up and supporting documents, for monies and services advanced to Oilex through May 1998, making Phoenix Reserves, Inc. the principle creditor. 101 other creditors totaled approximately $300,000.00. The Baron