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

To: CHRISTINE who wrote (4154)	1/19/1999 12:52:00 PM
From: CHRISTINE	Respond to of 4276

The INVESTools Advisory, January 11-15, 1999 1. Profiting from an Upcoming US Energy Shortage (TPL)Friday, January 15, 1999 Frank Curzio says the US is heading for an oil and natural gas shortage. He points out that today's low oil prices are forcing companies to plug 2,000 oil stripper wells each week. Oil stripper wells (which produce 10 barrels per day or less) account for 70% of all US wells. Curzio says that since it costs $2 to $4 million to drill a new well, energy companies can not justify drilling new stripper wells at current oil prices. Also, stripper wells produce roughly 1.4 million barrels daily, which is also the amount that the US imports daily from Saudi Arabia. "Since the US imports over 50% of its oil from outside its borders, loss of the stripper wells will increase our imports and energy dependence from one of the most unstable regions in the world," Curzio says. The only way oil companies could justify redrilling stripper wells would be if oil and gas prices rose significantly, Curzio says. He assumes Asian economies will turn around in nine to 12 months and the US economy will continue to advance, and predicts that today's dead stop in both on- and offshore drilling will result in a dramatic shortfall of oil and gas this fall. To capitalize, Curzio recommends four special situations selling at significant discounts to net asset value. Topping the list is Texas Pacific Land Trust (TPL), one of the longest-listed stocks on the NYSE. TPL has been earning a 0.0078% royalty on over 85,000 acres of land that has long been drilled for oil. But Curzio is excited about more than 380,000 acres of other land on which TPL owns a higher 6.25% royalty. Rising oil and gas prices will behoove companies to drill on this higher-royalty land, and Curzio predicts 12,000 wells on this land in three-to-five years. "For patient investors, a small holding in TPL's shares could result in an imponderable accrual of tremendous wealth," Curzio says.

To: CHRISTINE who wrote (4154)	1/19/1999 1:13:00 PM
From: CHRISTINE	Respond to of 4276

From AOL ( califtalk )Re: Oilex future (here is my opinion) To: RickSkyboy CC: CALIFTALK Rick, Here is my opinion. When I was in New York talking to the auditors, Burditt's attorney made the move to push into chapter 7 using the excuse that he was the largest creditor (Phoenix Reserves) and operating without insurance was a threat to his interest. The true reason was that he hoped to bury the evidence and actions and escape Justice. It is clear that not only is Phoenix Reserves not a creditor, but in fact Burditt used that shell company to loot Oilex debenture cash during the time period July 1997 to Feb 1998, and Phoenix Reserves received multi millions of newly issued shares of Oilex in the years 1995 - 1996 - 1997- 1998 for no consideration or inadequate consideration and the shares were sold on the market for cash. The stock sales were usually in Canada and the sales were made without proper disclosure as required by the SEC. The proceeds were not properly reported as profits to the IRS. The transactions should have been stopped and / or controlled by the officers and directors of Oilex, and by the auditors and / or attorney for Oilex. The shareholders have been cheated and are the victims of fraud. Restitution and recovery thru the legal system is necessary to protect the shareholders. Hopefully the government agencies will finally make their move to bring the guilty to Justice, and assist in the recovery for the investors. I have acquired approx 38 % of the outstanding shares and I am willing to advance my share of the costs to cover the legal expenses. Advancing money to keep the operations going at a negative cash flow of $10,000 to $15,000 per month could be pointless and foolish in the face of falling prices for oil. I advanced the cash to repair the swabbers and cover the flood damages from the recent storms in Texas, and the deposit to complete the 1997 audit, and the attorney fees, and the monthly operating cash negative from the time I became involved with Oilex in July 1998, and I covered the NSF checks owed to employees for prior payroll costs. This has been a very unhappy situation that has proceeded from bad to worse without a light at the end of the tunnel. Only restitution from the parties that commited this scam and the parties that allowed this scam to continue without using their powers as officers and directors and auditors and attorney of the company to stop these transactions, will allow positive recovery. It is important that investor victims keep their records and share information to bring Justice and prevent the guilty from escaping justice and to repeat this scam again. It is our duty to bring Justice and not hide from the responsibilty. Shareholders that want to share the costs and rewards (prorata) should contact me. Califtalk @ AOL.com

To: CHRISTINE who wrote (4154)	1/19/1999 1:17:00 PM
From: CHRISTINE	Read Replies (1) \| Respond to of 4276

From AOL (CALFTALK )Subject: Answers to Questions From: CALIFTALK After advancing over $100,000 cash to cover expenses and costs and repairs, and finding that operations are still running negative, and oil prices are sinking, and the weather prevents swabbing, it can not be demanded that another $20,000 be put down for insurance when the money is not available. Lower insurance on only a portion of the operations or temporarily shutting down operations and delaying insurance expense could be a wiser decision. The real recovery for the creditors and shareholders will come from restitution and damages and efforts on that path must continue until the creditors and shareholders get justice.