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Microcap & Penny Stocks : Benz Energy (BZG.V)
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To: Roy Chiesa who wrote (1)10/13/1998 10:37:00 PM
From: Ed Ajootian  Read Replies (1) of 272
 
Roy,

We are finally getting some clues that those wild eps & cash flow estimates that have been made for this company may have an element of reality to them. Of course you have to give them a healthy haircut due to the lower commodity prices now, but I feel that it will not be long before this thing takes off.

They are about to announce another couple of successful wells and also sometime in a couple of weeks we will be hearing about their plans for getting out of the Canadian market.

They have a massive $12 mm loan due in a couple of months and the market is understandably jittery about this given the credit crunch that exists in the O&G market these days. But I feel confident that they can successfully refinance this loan. Apparently the company does too given that they recently acquired some more O&G interests, where as part of the consideration they parted with a cool $1.25 mm cash. They obviously would not have done this if they were worried about the loan coming due in December.

It may be a few months too early to buy here (they do not expect to be in positive cash flow until next quarter) but this kid's gettin' ready to jump in the pool. What else is new -- I'm always early on these things.

I think another reason folks are hanging on the sidelines is that they are worried about a reverse split. I am too but I feel that the news that's about to come out will overcome any adverse consequences from a reverse split.
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