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To: double-plus-good who wrote (50676)	9/9/1999 11:54:00 AM
From: upanddown	Respond to of 95453

++good Re CECX... The only major purchase I know about are the Ambrit properties. That closed in early June and the cash stats are from end of June. I think that they had a deferred payment to Ambrit of 19.5M. Not sure if that is paid yet but it should still leave them with close to 25M. I think the key thing will be the quality of the purchased properties. I really only posted it since it was such a contrast with the typical E&P with cash, unused credit lines, dividends, stock buybacks. I tried to get some below 17 but the MM kept moving the ask. Very illiquid (didn't trade yesterday!!!) and can be easily manipulated. John