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

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Sep 30 5:00 PM EST

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To: tg49ers who wrote (108)	3/26/1998 8:03:00 PM
From: Jim Hitchie	Read Replies (3) of 223

I've noticed that most people believe this is a gas well or are assuming that it is a gas well because of some of the info in the news release.... .....i.e...." hydrocarbons, as demonstrated on the gas chromatograph, are thought to be medium to high density gas with condensates or light oil." Read that again and it is quite easy to see that this could be a light oil discovery with the first horizon having over 200 feet of pay over an area of from 4 to 5 km with what I now understand is a higher porosity ...10% or better......than what they were expecting (around 5-7%). I really do believe that when we get the results of the testing, people will be kicking themselves that they didn't recognize this thing from the news in front of their eyes. Also, don't think that they won't rush to get the testing done ASAP....there is too much riding on the numbers for them to dawdle. Finally, everyone is taking the stock price as their main indicator of the success of the well and have been for over 3 weeks. That only works if the insiders are loose-lipped and devious. These guys aren't. I also think that it is safe to say that the Cubans on the crew at the well don't have cell phones (to let the brokers know what is up). As a matter of fact, they may not even have a phone at home that works or even know how to speak English very well. So don't look for too much news leakage from the well site.

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