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Gold/Mining/Energy : Cubacan Exploration (CCX - A.S.E.) Oil Exploration in Cuba -- Ignore unavailable to you. Want to Upgrade?

To: igor who wrote (85)	3/14/1998 5:49:00 PM
From: Jim Hitchie	Read Replies (1) \| Respond to of 223

I would point out that in their last news release (included in an earlier posting re The Cuban Investment Letter) they did indicate some potential success with the 250 meter zone and 50 meter zone with hydrocarbon indications.....however, logging will tell the tale this coming week. Another factor you can not ignore..... Beau Canada has recently announced their take-over of Genoil and as we will soon find out, this will be very positive for Cubacan. As for the high volume and slight drop in price, I would look on it not as a negative, but as an indication that someone is accumulating the stock at this level. Reason for feeling that way? Well, if there was over 800,000 shares for sale and no one was buying it, the stock would either not trade at all or crap out to 10 cents and still not trade. However, there has been some pretty consistent buying of the stock around the .38 to .43 level for the last 3-4 weeks and a volume of almost 1,00,000 shares. I may be wrong, but I read that as someone buying based on the recent developments and older holders getting off cheap and long held stock.