Benz Energy (BZG.V) Message Board

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

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To: John T. who wrote (53)	12/6/1998 1:01:00 PM
From: Ed Ajootian	of 272

John, How ironic that someone finally posts on Benz just when my interest is cooling on it. I still think its a good buy, but I wouldn't pay much more than what you did to buy it at this point. My main concern is that they said they are only producing 7 mmcfe a day now. This is horrific given that they supposedly were at that point in July and they have since had all that success in their Oak Hill property and also have hit some more wells. That tells me either that the figure they threw out for July was bogus or they've had some signifcant production declines in recent months --- neither of which is very positive. The idea about getting on the Amex next month is nothing more than a gleam in Prentis' eye at this point. I don't think anyone is really taking him seriously. All they will have as news between here and then is a couple of developmental wells and some new bank financing. This is hardly enough to get the stock to even double, never mind quintuple. I feel a more realistic timeframe would be over the next 6 months or so. I feel Mark is doing a disservice to his employer to be creating these rediculously high expectations in BZG shareholders. As to a list of G&A expenses, hope this link to their SEDAR posting of the 3rd quarter Form 61 works: sedar.com\wpdocs\sedar\bzgschbc.doc There, at Schedule B 1(a), is the list you seek. BZG will not start to earn a profit for at least a year IMO. But profits are not what we are in the O&G microcap game for. Rather, we are in it for positive cash flow. I feel they stand a good shot at getting to positive cash flow for 1Q '99, and definitely should be there for 2Q. Thanks for the great links. Don't get me wrong, I'm not pulling in the sails on Benz yet. I'm just saying that its gonna take a lot longer to see results than was thought previously.

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