Cubacan Exploration (CCX - A.S.E.) Oil Exploration in Cuba Message Board

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Gold/Mining/Energy : Cubacan Exploration (CCX - A.S.E.) Oil Exploration in Cuba

CCX 17.14

0.0%

Sep 30 5:00 PM EST

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To: tg49ers who wrote (87)	3/17/1998 3:18:00 PM
From: Jim Hitchie	Read Replies (1) of 223

Here is my reading of this for now.... If you were only taking the stock price as an indicator, you would have say this well is a dud. Yet, if you look at the volume over the last 3-4 weeks, you would have to say that 1) someone was accumulating the stock and/or 2) they were shaking out the stock to get any nervous or rider shares Look at it this way - normally, if there was that much stock for sale (1,000,000 plus shares) the stock would trade down much lower and the volume would dry up quickly as the bids would start to disappear. However, the buying kept absorbing the selling over this period. Then, to add to the mix, there were no trades for three hours on Monday morning and the volume has now dried up. If you read the last news release, the information points to a potentially big well....i.e. 250 meters of hydrocarbon shows! The company is apparently spending big bucks (over $100K) to bring tools down to Cuba to log well. Would they do that for a dud well? I still think there is more to this than we can discern from the stock price. I guess we will find out after the logging this week.

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