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Posted: Saturday Jan 3 4:16:14PM 2009
Geezer, Yeah Im kinda of bitter but gotta move on. Thank God I only had a small position in this stock of 100 shares. Im definitely intrigued that all these analysts cound not see the debt issue come from nowhere and burn the shareholders. I did see some chatter on the forums before the fall about their debt but neglected to investigate because of all the favorable reviews by the analysts - Shame on Me!
Posted: Thursday Jan 1 4:37:41PM 2009
I own a small position in OIL should have sold instead of listening to Schacter who quoted 30 dollars earlier. Oh well live and learn!
Posted: Friday Dec 19 7:46:04AM 2008
Oilexco has hit a speed bump of massive porportions.
Very expensive bridge loan has been extended until late January 09 but looks like the bank wants out. Oil.to looking to sell part or all of the company. Tremendous volume. I thought assets would be valuable enough to put a floor under the stock but weak oil prices and questionable economics of offshore North Sea oil make a quick profitable sale less likely.
Should have sold. Bad decision. Bobwins
Posted: Monday Dec 8 12:37:24PM 2008
Oilexco has been falling like a rock for weeks. They were aggressive about tying up 2 deep drilling rigs at 500 to 650K per day for 2 yrs and have been borrowing to pay for aggressive drilling. They have several new discoveries but need bucks to complete these wells and continue to drill. Their first field to production is at around 18Kbpd now. But it has a short reserve life and Oil.to needs to keep drilling to replace it and grow.
Today they announced several parties are interested in acquiring Oil.to. Based on potential, Oil is grossly undervalued but the specter of having to issuing tons of shares to raise cash has spooked the market. Debt is bad!
So speculation that someone might buy out Oil at somewhere near market prices has boosted the stock today.
Currently +.51 to C$1.96.
Posted: Monday Oct 6 8:11:02AM 2008
After close PR about delay in production increase from 20,000 to 35,000bpd to Q1 instead of Q4 plus possible problems with bank line increase from 700 million to 1 billion. Big selloff Friday and a bigger one today. Huge volume at 7 million shares. Opened C$6.13 and fell to C$3.94. I bought a few hundred shares on the way down at C$6 and C$4.
The increase is only months away and there is more after that. Joseph Schacter is predicting 100,000bpd by 2010. This seems way overdone. Bobwins