Josef Schachter
Oilexco Inc
OIL-X
TOP PICK
Jun 20, 2006
Going to be bringing on the Brenda oilfield in the UK North Sea in the 4th quarter. They will be doing about $2 annualized cash flow. They have locked in a rig until 2010 which gives them some advantages.
(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.