Thinking about buying Oilexco . OIL TSX, at current price. What are your thoughts on this? I have appreciated your comments in the past and thank you for this.

Oilexco Blow Out

Henry

Hi Henry,

Thanks for the assignment. The question is why do you want to chase a company whose future is very much in question? The operating arm of the company has filed for administration in the UK which is the equivalent of creditor protection in Canada.

The company’s partners have replaced them as the operator of their fields in the North Sea and analyst who follow the company are convinced that there will be little left for shareholders. And if that’s not enough bad news the TSX says that they will delist the stock on February 9, 2009 for failing to meet listing requirements.

SHOCK AND AWE

The chart tells the story of a broken company and unless the management can pull an elephant through a keyhole its done!

Happy Capitalism!