Choco-Fudge Frosting

1 1/4 c. heavy or whipping cream
1 c. sugar
6 1oz. squares unsweetened chocolate
3/4 c. oleo (1 1/2 stick)
1 tsp. vanilla

In 2 quart saucepan over med. heat- Heat cream and sugar to a boil. Boil one minute. Remove pan from heat. Stir in chocolate, coarsely chopped oleo and vanilla until chocolate and oleo melt. Pour mixture into large bowl and refrigerate until mixture cools and thickens slightly (about 25 minutes.) With mixer at high speed beat frosting until smooth and it stands in peaks