Josef Schachter
Oilexco Inc
OIL-X
BUY
Apr 12, 2006
Just had a D & A (dry and abandoned) announcement on a well and moving the rig to a new area which has high impact potential. Have 2 rigs booked for 3 years which is a big asset. Very cheap.
(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.