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Gold/Mining/Energy : KERM'S KORNER

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To: Arnie who wrote (8170)	1/2/1998 6:08:00 AM
From: Kerm Yerman	of 15196

FINANCING / Benz Energy Ltd. Increases Credit Facility BENZ ANNOUNCES INCREASE IN CREDIT FACILITY HOUSTON, Dec. 31 /CNW/ -- Benz Energy Ltd. (Vancouver: BZG.) today reports that it has executed an agreement with EnCap Investments L.C. for an expansion of Benz's credit facility from $12 million to $20 million, subject to regulatory approval. EnCap will receive up to 1.5 million warrants for the purchase of Benz common stock depending on the extent of the draw down of the expanded facility, and a portion of the expanded facility can be converted into Benz common stock at redemption. Prentis B. Tomlinson, Chairman and Chief Executive Officer, commented, "We are pleased with this statement of confidence in Benz and its future by the leading mezzanine lender in the energy industry, and look forward to continuing our partnership with EnCap." Benz Energy Ltd. is an exploration and development oil and gas company based in Houston, Texas and focused on the onshore Gulf Coast of the U.S. Benz acquires and utilizes an extensive base of 3-D seismic data and acreage position, and has assembled an inventory of 28 leased exploration prospects.

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