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

To: Ed Ajootian who wrote (150)	4/11/1999 9:56:00 PM
From: SnakeInATuxedo	Read Replies (1) \| Respond to of 272

Got lots of experience crunching the numbers, Ed, thanks for the severance and royalties "cuts", I never forget who else has their hands in the till; I was using the Texas numbers since that's what I'm familiar with and they're a little lower than Mississippi but not much lower, so instead of cardiac arrest, I'll just have a mild case of arhythmic fibrillation and aortic palpitations. $^)

To: Ed Ajootian who wrote (150)	4/15/1999 10:25:00 AM
From: Casey	Read Replies (1) \| Respond to of 272

Ed: any insights from your contacts on the problems with the Fortenberry? I just got my investor kit and have spoken to Mark Kahil. The debt picture is somewhat more serious than your earlier posts indicated, I believe. As I understand it, they currently have a $7M non-recourse VPP loan. An additional bridge loan from Encap is $15M, and the VPP (related to success on the Fortenberry), will get them $18M which they'll use to retire the Encap loan and use proceeds for working capital. They are currently cash flow negative, and have had to cut many employees and place others on contract. They are currently at 76M shares fully diluted and they are intending to do a placement for $5M which will bring the fd position to 88M shares!! Ugly. The Imi will in Oakvale Dome is the next one to be drilled. If they don't get the Fortenberry successfully completed soon, the stock price will probably continue to tank, and the Fortenberry, even though it's essential to survival, isn't the saviour of this outfit, imo - keeping the bankers happy and success in equity financing to hit good wells in Oakvale Dome is the key. You asked for me to post my opinion when I looked at the company, and my opinion is this is a very risky proposition. I'm always willing to listen to counterarguments however.