Indocan Board Authorizes Share Buy Back

Indocan Board Authorizes Share Buy Back 


VANCOUVER, British Columbia, Nov. 12  /PRNewswire/ -- Indocan Resources, Inc. 
Board of Directors has authorized the repurchase of one hundred million shares
of Company Common Stock over the next twelve to eighteen months. The Company
feels that the share price is exceptionally undervalued at this time and will
actively retire blocks of stock from time to time. We will make quarterly
announcements of shares quantities retired.

More information is available at http://www.indocan.com/. [phone].

"Safe Harbor" statement under the Private Securities Litigation Reform Act of
1995:  Except for historical information, all of the statements, expectations
and assumptions contained in the foregoing are forward-looking statements that
involve a number of risks and uncertainties. It is possible that the assumptions
made by management are not necessarily the most likely and may not materialize.
In addition, other important factors that could cause actual results to differ
materially include the following: business conditions and the amount of growth
in the Company's industry and general economy; competitive factors; ability to
attract and retain personnel; the price of the Company's stock; and other risk
factors. The company takes no obligation to update or correct forward-looking
statements.

CONTACT: Investor Relations of Indocan Resources, Inc., [phone] 

DATASOURCE: Indocan Resources, Inc.



CONTACT:  Investor Relations of Indocan Resources, Inc., [phone]



Web site:  http://www.indocan.com/ 

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