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Microcap & Penny Stocks : Benz Energy (BZG.V) -- Ignore unavailable to you. Want to Upgrade?

To: johnlag who wrote (19)	10/27/1998 12:24:00 AM
From: Ed Ajootian	Read Replies (1) \| Respond to of 272

John, Benz still had $11 mm cash left @ 6/30/98. We'll find out soon what they had @ 9/30/98. They have also proved up (or about to prove up) massive amounts of new reserves, which should allow them to increase their credit lines. Then you've got the $15 mm of cash flow that Strain has projected for '99. I don't see financing being a problem here. Texstar was a real company with a real value to it. At the time he contributed it Benz was at $.93 a share. So he paid $.93 a share for that stock. Correct, he did not cut a check, but he parted ownership of a very valuable O&G company for it. Then later he contributed other properties to Benz when the stock was over $2. Last couple of day's action is disheartening to say the least. Only salvation (so far?) is that it is on a fraction of the volume that powered the stock up to $1.15. Still, there remains the possibility that some negative event has occurred and until I can satisfy myself that this is not the case I'm on the sidelines. $1.70 will definitely be a roadblock but we've got plenty of room before that price. Eventually the stock will be able to blast through even the $1.70 mark. It will probably take about $4 in asset value to do this, but I believe that is achievable in the next year. Note: If this gets down to C$.67 it will then be selling at a value equal to the amount of cash they will generate in 1999!

To: johnlag who wrote (19)	10/29/1998 10:29:00 PM
From: Ed Ajootian	Respond to of 272

John, Your concerns seem more & more justified as each day wears on. This one is looking like a big loser right around now. They sent out a letter dated 10/21 that predicted this next Oakvale Dome well would be hitting TD in ten days (ie Halloween). That would mean they would be drilling through the zones of interest right around now. With the financing pressure, if they miss on this well the company goes "poof" in the night, on New Year's Eve. Market is responding as usual, no-news-is-bad-news. Probably right this time. Oh well, easy come easy go. Seems like mostly GO these days! Will be interesting to see the next short interest listing for this turkey.

To: johnlag who wrote (19)	11/11/1998 11:34:00 PM
From: Ed Ajootian	Read Replies (1) \| Respond to of 272

John, Looks like we're finally on the verge of chewing through the overhang. Only one left with any significant stock seems to be Cannaccord and as soon as they fade away its gonna be off to the races. We are due for review of the borrowing base for the Bank One loan and its likely that that facility will be increased $6.4 mm to its $10 mm maximum. This together with the money still left from the note offerings should be plenty to fund the THIRTEEN WELLS scheduled to be spudded next quarter. Do me a huge favor and take a look at this list, at benzenergy.com, and make sure I didn't miss any, will ya? <g> As the saying goes, A WELL A WEEK KEEPS THE DOCTOR AWAY. Benz is gearing up to go balls-to-the-wall for the next 4 months. Go nuts drilling now, hit and test the wells in the 2nd quarter, report second quarter earnings together with the then-current production rate on 8/15/99, and the stock promptly blasts through the $2.12 mark and we force conversion of most of the notes on 9/30/99. We're home free with an easy triple, in less than a year.