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Gold/Mining/Energy : Canadian Oil & Gas Companies -- Ignore unavailable to you. Want to Upgrade?

To: ISPYOIL who wrote (5517)	10/22/1998 6:51:00 PM
From: Ed Ajootian	Respond to of 24892

Ispyoil/Benz Guess that's what makes markets. In the end I just figure that it shouldn't make _that much difference how many pieces you cut the pie up into --- its still the same size. One way or another this situation should come full circle by the end of the year, so we won't be in suspense for much longer. BTW, if you respond, would appreciate if we could move over to the Benz thread so we don't piss off the local denizens here any more than I have already.

To: ISPYOIL who wrote (5517)	11/4/1998 9:37:00 PM
From: Ed Ajootian	Read Replies (1) \| Respond to of 24892

ISPYOIL/Benz Energy Well, the news of the 5 for 1 reverse has been out for about a week now (filed w/ Sedar on 10/29) and the stock basically hasn't tanked all that much (about $.10, down to the $.65 area). Wondering whether this is common action following this kind of news and whether you still feel there is plenty of time to load up on this puppy. One other item: they also announced that they will be having a special shareholders' meeting to vote to "migrate" the company to the US. Never heard of this before. This is gonna be a fascinating experiment. Within the next few months we'll get to see whether a mere change in the country of origin of a company will make a difference to its stock valuation.

To: ISPYOIL who wrote (5517)	11/21/1998 1:19:00 PM
From: Ed Ajootian	Respond to of 24892

ISPYOIL/ Benz Energy (BZG.V) So far you've been right on --- this turkey is still 20% lower than when you wrote your note suggesting that it would be better to wait for the reverse split and Amex listing. But I wonder whether this would still be a wise course of action given all that will likely occur between now and then. Although the meeting to approve moving the company to the US and giving the Board the authority to do a reverse split takes place on Wednesday, I understand that the actual reverse split will not occur until all of the events listed below have taken place. Here's a copy of a post I've made on another thread here at SI, which gives a synopsis of the Benz story. Would be interested in anyone's thoughts, comments. Benz Energy (BZG on the Vancouver) This is an established all-American oil & gas exploration company dressed in a Canadian junior exploration company's clothing. They have over 2 dozen world class prospects in the US Gulf Coast region, several of which they have already found and proven up reserves. Their mix of oil & gas production is about 90% gas and 10% oil. Nat. gas prices have held up admirably in light of the carnage taking place in crude oil prices. On Wednesday they are having a special shareholders' meeting to vote on switching the company from being a Canadian company to being a US company. This will then allow them to be traded on a US exchange. Word I hear is that they are gunning for the Amex. They have two development wells in their most promising field, Oakvale Dome in Mississippi, coming to total depth in a couple of weeks. The production from these wells will likely double the company's production and also will put it in a positive cash flow position for the first time. Check out the SI thread on Benz and also check out their web site at benzenergy.com. Not really expecting a lot from this stock next week, but once we get by Thanksgiving there is going to be a series of very positive news announcements out, all in the space of the next month, as follows: 1) Results of Wednesday's meeting (all proposals approved). 2) 3rd Quarter results (record quarterly production, cash flow). 3) Each of the Oakvale Dome wells reached TD and found several hundred feet of pay; multiple zones productive. 4) Benz gets a whole new financing facility and finances its short-term debt into long-term debt and gets $10 mm more of borrowing capacity. 5) Each of the Oakvale Dome wells tests out with initial gross production rates of 10 -- 15 mmcf a day of gas. 6) The US SEC approves Benz' stock for trading in the US. The stock (currently at C$.90) will likely close the year at something north of C$1.50.