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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: Tate who wrote (194)	7/15/1998 10:18:00 AM
From: calvertd	Read Replies (3) \| Respond to of 223

At the Annual Meeting June 24, 1998 the company was authorized to double it's outstanding shares for financing purposes. As of July 15, 1998, the stock has been beaten down to 20 cents per share through selective trades designed to lower the stock price to more "reasonable" trading levels to "implement" the financing necessary to test the discovery well. This is really great for the shareholders of Endeavour Resources, Cubacan's sister company which recently owned 11 per cent of Cubacan. Look for an ownership increase by Endeavour Resources after the forthcoming stock placement since I suspect that Endeavour sold a considerable number of free floating shares of Cubacan at much higher prices in order to reinvest in treasury shares of Cubacan. This selling would have been designed to assure the successful financing of Cubacan's test well while at the same time increasing the present owners' interest in Cubacan. Hmm, really smart, don't you think? In the past 78, 91, 41 have been virtually interchangeable broker numbers. As of this moment I also suspect that the insiders and friends are buying up all the cheap stock from those who don't believe they have a winner. I still firmly believe Cubacan is going to be a big winner. All my own money is where my mouth is.