Updating Oilexco Inc., RDM Corporation, Goodyear Tire & Rubber Co. and Avaya Inc.

Article Excerpt

OILEXCO INC. $13.92 (Toronto symbol OIL; SI Rating: Speculative) (403-262-5441; www.oilexco.com; Shares outstanding: 216.2 million; Market cap: $3.0 billion) has started production from its 100%-owned Brenda and 70%-owned Nicol oil finds in the UK North Sea. The company estimates that production from the three wells in Brenda and one well in Nicol will average 30,000 barrels of oil a day during the first full year of production. Oilexco also reports that drilling at its 40%-owned Huntington prospect in the North Sea has encountered a significant light oil discovery. The field could end up as the company’s largest find to date. As some of the biggest pools of oil in the North Sea are depleted, most major oil and gas companies, such as British Petroleum and RoyalDutch/Shell, have withdrawn from actively exploring the region. However, they have left behind significant quantities of oil and natural gas. The UK government is now encouraging smaller companies such as Oilexco to explore and exploit those pools…