Benz Energy (BZG.V) Message Board

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Microcap & Penny Stocks : Benz Energy (BZG.V)

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To: Elizabeth Andrews who wrote (34)	11/3/1998 8:07:00 AM
From: Ed Ajootian	Read Replies (1) of 272

EA, Yeah, we're outta here man! This market is not kind to real companies. The bastard Canadian market makers dragged this puppy so low that its market cap. finally hit book value (or more precisely the "inside" tax basis of the company's assets). So, even though the act of migrating out of Canada is considered a taxable event, in this case the deemed proceeds = the tax basis of the assets and, voila, no tax gain! Gotta love that great tax planning man. We couldn't a done it without the help of your Canadian buddies though, whacking the hell out of this stock. The timing of this is perfect. We take the pain of the rollback now, before any good news is due out. The Howell well hit a piece of the salt dome that was sticking out and some drill string got stuck. So that one is slowed down and now the next well (the Fortenberry) is actually past the Howell. Looks like _both wells will now be TD'ing right around the time of the shareholders' meeting --- whadaya know! On Busby's stock --- lets just leave it that all but about a half million of his shares have been effectively "neutralized". Couldn't resist busting your chops on the UP thread --- hope you can take it as well as give it!

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