Hi All,

Great to see a small community building here. Oil-V closed at .17 cents today on some really good volume. The reason is that the fear surrounding delisting has been replaced by the confidence that a listing on the TSX venture provides.

I am not sure of too many companies that would be granted a new venture listing if they only planned to be open for six more weeks (March 31 is the deadline given by Ernst and Young UK for the sale of all or part of the ONSL assets).

What we are awaiting now are the realized sale values and the determination of whether the sale was for everything ONSL possessed or if some of the assets will go to the subsidiary that OilExco Inc created (nicknamed Bidco) for $1 (essentially a transfer back to the parent after the banks and creditors have been paid). The $1 gives them rights to all of the assets owned returned to the parent company currently held by their other subsidiary OilExco North Sea Limited (ONSL) which is in administration in the UK.

The realized value of the sale and the remaining equity will be what defines share price. The CEO swore a statement of truth under oath as to the book and realized values for both the assets and liabilities of OilExco (and ONSL). There is a lot of room to breathe at the current market cap of 40M given the assets are worth 1 to 1.2B Pounds and the debt is at about 500M pounds. One pound = $1.80 Cdn.

Three companies are rumored to be involved with the bidding and two have been confirmed though names have not been released. OilExco and the $1 bid is the fourth.

Bashers on the other boards have tried to beat this down but from my review of all of the court documentation and an understanding of restructuring, this company should have a nice life after all is said and done. A small chance I could be wrong but the assets are ripe for the picking and the bidding even in this depressed market should more than cover debt and admin fees in my opinion.

Good luck to all and congrats to those who followed by recommendation to buy at 11 cents.

M1.