Benz Energy (BZG.V) Message Board

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

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To: Sleepman who wrote (234)	11/18/1999 11:45:00 PM
From: Ed Ajootian	Read Replies (1) of 272

Excerpt from 3Q 10Q: The company has proposed the drilling of a development well in the Oakvale Dome Field in Mississippi currently carried as proved undeveloped in its independent engineering report. Correspondingly, the company has applied for, and received into escrow, funding for its share of the drilling and test costs as provided for under the Aquila Credit Facility. The sole working interest partner of the company in the proposed well has also placed into escrow its share of the drilling and test costs and operations will commence shortly. The company has also received, and is reviewing, the first well proposal in the Old Ocean Project in Texas. &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& IMO the fact that neither of the above wells has been spudded yet is the reason for the lethargy in the stock price. It will probably continue to drift down until the first of these wells is spudded. At that point I would take a close look at this one. It has a book value of about C$.22 and it is currently generating positive cash flow. Looks like CRK is waking up --- still early on that one IMO.

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