Benz Energy (BZG.V) Message Board

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

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To: Casey who wrote (107)	3/29/1999 6:37:00 PM
From: Ed Ajootian	Read Replies (1) of 272

Casey, Benz has about 34 mm shares out right now. They have US$36 mm of convertible bonds that are convertible into common @ C$1.70 per share. Not much of a factor at this point since the stock could quadruple from here and the bonds would still be out of the money. These guys are very creative financially though and I would not be surprised to see them announce some kind of exchange deal where they get the bondholders to kick in some more $$$$ in exchange for lowering the conversion price or giving them warrants, or something like that. There are also some warrants & options out but none have strike prices lower than C$1 though I believe. So its clear sailing for quite a bit overhead. About gas prices, the Nymex futures strip for near-term months indicates that gas traders are betting that gas prices will actually increase slightly over the next three months: Natural Gas$ per mm btu's Apr 1.8650. May 1.8900 Jun 1.9200 The article on Alberta gas was very interesting. I believe that the gas markets that are closer to the US Northeast will benefit even greater than Alberta by the upcoming gas shortages. If you know what you're doing, with 3D seismic you can find gas in southern Louisiana and Mississippi for not much more than it costs to find it in Alberta, and you get paid a lot more for the gas because you don't have to pay as much to transport it to the key markets. Latest word on the Fortenberry is that it encountered a little glitch on the _last _foot of drilling and they thus weren't able to get it logged today. Will try again tomorrow. You still have a couple of days to look at this before having to buy it before the runup. I think everyone who has bought the "story" would have already bought at this point and the ones who are waiting to buy the "news" will not buy until news is announced, which will not likely be for another week at the earliest. The only reason I would recommend buying sooner rather than later is that newsletter that is getting distributed. For more info. on Benz I would strongly recommend calling Mark Kahil their IR guy, at 713-739-0351. He is very knowledgeable and helpful. If you decide to look into this company I would be very interested in what you think of them.

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