Dennis da Silva
Oilexco Inc
OIL-X
DON'T BUY
Dec 18, 2008
Thinks they sold about a quarter of the company to get the extension on debt as they go through the sale process. Market was not happy with that. Not a fan of the North Sea.
(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.