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Microcap & Penny Stocks : Benz Energy (BZG.V)
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To: Elizabeth Andrews who wrote (46)11/21/1998 1:07:00 PM
From: Ed Ajootian   of 272
 
EA,

Sorry to see you've lost interest in this. For all the other Benz fans out there, here's my latest propaganda on this turkey, copied from several other threads on which it has been placed:

Benz Energy (BZG on the Vancouver)

This is an established all-American oil & gas exploration company dressed in a Canadian junior exploration company's clothing. They have over 2 dozen world class prospects in the US Gulf Coast region, several of which they have already found and proven up reserves. Their mix of oil & gas production is about 90% gas and 10% oil. Nat. gas prices have held up admirably in light of the carnage taking place in crude oil prices.

On Wednesday they are having a special shareholders' meeting to vote on switching the company from being a Canadian company to being a US company. This will then allow them to be traded on a US exchange. Word I hear is that they are gunning for the Amex.

They have two development wells in their most promising field, Oakvale Dome in Mississippi, coming to total depth in a couple of weeks. The production from these wells will likely double the company's production and also will put it in a positive cash flow position for the first time.

Check out the SI thread on Benz and also check out their web site at benzenergy.com.

Not really expecting a lot from this stock next week, but once we get by Thanksgiving there is going to be a series of very positive news announcements out, all in the space of the next month, as follows:

1) Results of Wednesday's meeting (all proposals approved).
2) 3rd Quarter results (record quarterly production, cash flow).
3) Each of the Oakvale Dome wells reached TD and found several hundred feet of pay; multiple zones productive.
4) Benz gets a whole new financing facility and finances its short-term debt into long-term debt and gets $10 mm more of borrowing capacity.
5) Each of the Oakvale Dome wells tests out with initial gross production rates of 10 -- 15 mmcf a day of gas.
6) The US SEC approves Benz' stock for trading in the US.

The stock (currently at C$.90) will likely close the year at something north of C$1.50.
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