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

To: Ed Ajootian who wrote (49)	11/25/1998 7:57:00 AM
From: Ed Ajootian	Respond to of 272

For any Benz fans that may be lurking but are not SI members, I've started a thread @ the Raging Bull site, 209.67.31.6 They put up the wrong symbol & I'm trying to get that corrected. For all you cheapskates, best part about Raging Bull is its FREE!

To: Ed Ajootian who wrote (49)	11/25/1998 8:15:00 AM
From: Ed Ajootian	Respond to of 272

Benz Announces Joint Venture With Burlington Resources HOUSTON, TEXAS--Benz Energy Ltd. today announced that it has entered into a joint venture agreement with Burlington Resources International (NYSE-BR) to pursue government contracts to participate in the redevelopment of oil and gas fields in Ecuador. If Burlington and Benz are successful in being granted a participation contract by the state's oil company, Petroecuador, the two companies could invest up to $1 billion to redevelop and exploit some of the country's 30 fields. Collectively, the fields have an estimated 11.8 billion barrels in existing proved reserves In August, Ecuador's Congress passed a law allowing Petroecuador to work with private international companies. The new law, along with the recent signing of a peace accord with Peru, has made Ecuador's redevelopment projects more attractive to outside parties. During a reception announcing the Burlington-Benz partnership, Ecuador's President Jamil Mahuad in referring to the Burlington-Benz joint venture and the possibility of the partners investing $1 billion in Ecuadorean fields said, "We face the possibility of having the largest investment ever in the (oil and gas) field in the country's history." If Burlington and Benz are granted participation contracts, they would be required to partner with Petroecuador. Operations would commence in early 2000. Ecuador's Minister of Energy announced that the formal processes for issuing participation contracts will begin in January, 1999. According to the joint venture agreement, Burlington holds a 75 percent interest and Benz holds a 25 percent interest. Benz Energy Ltd. is an exploration and development oil and gas company based in Houston, Texas. *************************************************************************** Not a heckkuva lot of immediate impact but has enormous impact to anyone thinking out 1 yr. or more. This time next year this JV is gonna get a lot of hype and will affect the stock price. Perfect timing to buy now, with plenty of time to hold through the 1-year period required to get LTCG treatment.