Oilexco returns to Drilling

A. Oilexco Returns to Drilling - you should be returning to Oilexco Oilexco ( OIL on Toronto and London ) has the cash flow on a daily 30,000 Barrel production and the potential of the drill bit: Investors are less anxious and have been bargain hunting the stock Focus on the 2008 cash flow estimate of $4.00 plus - the stock is cheap thanks to the recent fire and general market fears. CALGARY, ALBERTA--(Marketwire - Aug. 21, 2007) - Oilexco Incorporated (TSX:OIL) (LSE:OIL) ("Oilexco" or "the Company") and its wholly owned subsidiary, Oilexco North Sea Limited, reports that the semi-submersible rig Ocean Guardian, which is under contract to the Company from Diamond Offshore Drilling UK Limited, has resumed appraisal drilling on the 100% owned Shelley oil accumulation on Blocks 22/2b and 22/3a. The vessel suspended drilling last week when an electrical fire occurred in the engine room. There were no injuries or environmental damage reported as a result of the fire, and the well being drilled by the Ocean Guardian remained under control throughout the entire time. Members from Diamond Offshore Drilling UK Limited, Oilexco North Sea Limited and personnel from the UK Health and Safety Executive traveled on board the vessel to investigate the cause, inspect the damage and review the safety procedures following the incident.
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