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

To: John T. who wrote (62)	1/3/1999 11:30:00 PM
From: Ed Ajootian	Respond to of 272

John, We're getting down to the short hairs at this point. From my rough calculations they are close to running out of money again and will soon have to either go raise some more or let the Oakvale dome rigs go. In hindsight Prentis did a dumb thing, spudding that 2nd Oakvale dome development well before seeing what happened with the first one. Hopefully Lady Luck will smile upon us and overcome this poor judgement.

To: John T. who wrote (62)	1/14/1999 8:17:00 PM
From: Ed Ajootian	Read Replies (1) \| Respond to of 272

Benz enters into long-term production financing Benz Energy Ltd BZG Shares issued 34,130,683 1999-01-12 close $0.54 Wednesday Jan 13 1999 Mr. Prentis Tomlinson reports Benz Energy has entered into a non-recourse $7-million production payment with Shell Capital with the potential to increase the production payment to $25-million. At Shell Capital's discretion, it is anticipated that the balance could be financed later in the first quarter of 1999 following the completion of two development wells currently drilling at the Oakvale Dome field in Mississippi, asset rationalization, and certain other requirements. The proceeds of the new financing are being used to retire $3-million of currently due secured debt, working capital needs and completion of the two development wells. The production payment comprises a sale of a royalty interest in certain properties of the company providing Shell Capital with a portion of the company's production revenues from those properties. The company's immediate focus is to reduce and restructure the company's debt while increasing production to take advantage of the new opportunities in the market. The two development wells being drilled at the company's major discovery at Oakvale Dome in Mississippi will provide the opportunity to accomplish this goal. To date, Benz is encouraged by what it has seen in drilling results despite delays from mechanical problems, and we expect to complete the drilling of the Howell well in one to two weeks. The second tranche of production financing will be used to retire the company's remaining $15-million of mezzanine debt, leaving only the $36.25-million of long-term convertible debentures as debt to the company. At that point, the company's cash flows should be sufficient to meet working capital obligations and to finance continued development drilling. ************************************************************************* Just in case you missed it. Good news/ bad news. We live to play another day, but we had to give up some of the crown jewels to get there.

To: John T. who wrote (62)	1/24/1999 11:58:00 PM
From: Ed Ajootian	Read Replies (1) \| Respond to of 272

John, This week should give us a big clue as to how the next coupla months is gonna turn out with this thing. Still no official news on that Howell well other than it is being completed. But there is bound to be leaks of the production test, which is starting this week I believe. Anyone buying on those leaks will be easily detectable given the low volume on the stock these days. Hopefully they'll put out news of the production test as soon as its available. If you haven't completed your buy program I would suggest considering do so pretty soon. I think it will get back to $.70 even on just a decent test, more than $.80 on a good one.