Josef Schachter
Oilexco Inc
OIL-X
TOP PICK
Nov 22, 2005
Their well form Blackhorse just reported 5,240 BOE's a day. Potentially this play could come on in 07. The big issues will be getting pipe crews in and get things hooked up. Rig availability in the North Sea is probably into '07/'08, it's that tight. Have resolved their financing for bringing on the Brenda fields. This play will come in the 3rd quarter of '06.
(Top Pick Apr 4/08 Down 99.20%) Got into a debt problem. Company got blindsided by the storm. Management is trying to resurrect company. If Chrysler can come out of bankruptcy, then so can Oilexco.
(A Top Pick June 3/08. Down 99.59%. Has moved to a different investment firm.) Had a stop loss of $11 so would have been down 31%. Company is now bankrupt.
Has potentially blown up in bankruptcy. If you own, take your losses and move on. You could also talk to a stockbroker to see if there is any “over-the-counter” trading. If so, Sell.