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Gold/Mining/Energy : Cubacan Exploration (CCX - A.S.E.) Oil Exploration in Cuba
CCX 17.140.0%Sep 30 5:00 PM EST
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To: KC Jones who wrote (157)5/25/1998 6:20:00 PM
From: fivedollar   of 223
 
KC,

Any insider trading has to be reported within 10 days. That is the law in Alberta, however, it is not uncommon to go a little beyond this time frame.

I think you have to keep in mind that the market is the market. People buy and sell for different reasons. Just because it (CT Securities) is a larger position does not mean you should conclude it to be insiders selling. You can check this by visiting the Alberta Securities Commission in Calgary or Edmonton. They may help you over the phone, but I doubt it.

I do agree that when a company indicates that a news release is forthcoming, technically, as far as the market is concerned, they are bound by that indication. At this point in time I personally feel they are responsible for putting out a release indicating what the delay is and merely updating shareholders where things are at. From a company stand point this would even possibly restore some credibility and confidence in the market place.

Looking back over the last year and a half this company's ability to communicate with its shareholders has been less than adequate. Although many, including myself, are frustrated by the lack of performance stock wise and communication wise, it is important not to get caught up in the "Promotional" end of things and to focus on giving management the benefit of the doubt. Management have told everyone that they have a very significant discovery, some 30 million barrels. This is a very bold statement, if not accurate or true there will be repercussions.
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