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Microcap & Penny Stocks : Benz Energy (BZG.V)
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To: RSkarsten who wrote (226)9/12/1999 9:06:00 PM
From: Ed Ajootian  Read Replies (1) of 272
 
Russ,

The stock should hit C$.40 by Christmas. When they issue the 3Q numbers in November the market will finally get a clear picture of what the "New Benz" looks like. Let me give you a preview: net working capital of $5 mm, stockholders' equity of $37 mm.

Four other events will give this thing a kick in the pants: 1) announcment of the spudding of the next Oakvale Dome well; 2) announcement of the spudding of the first Old Ocean well; 3) a writeup by oil analyst Chuck Strain; and 4)getting a US listing. All of these events are likely to occur before 12/31 and thus provide the basis for the 33% move up in the stock price.

Only reason the stock will not pop more is that we will be fighting a fierce headwind, in the form of year-end tax loss selling. But I feel that enough new buyers will be coming in to more than offset the tax-loss sellers and thus the stock price will go up.

Once we get into '00 and the next Oakvale Dome well is close to hitting TD the stock should continue its rally.
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