Put margarine, oil, cocoa, & 1 cup boiling water in sauce pan and heat. Sift flour, & sugar into mixing bowl. Pour chocolate mix over flour mix and beat 1/2 minute. Add eggs, buttermilk, baking soda, & salt and beat 1 minute. Pour into 13x9 greased baking pan, bake at 350 for approx. 30 minutes, until toothpick comes out clean. Allow to cool.
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For frosting, put in butter, cocoa, & milk in pan and bring to a boil stirring regularly until smooth. Add confectioner sugar & vanilla, frosting will stiffen as it hardens so frost cake while warm. Nuts can be added if desired.
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