I think LINE will go up to $38 per share between the last week of January 2013 to the first week of February 2013. What do you guys think?
Sentiment: Strong Buy
It looks llike you may be right.
If you look back, it seems like $34.80 was a recent low, and it has been headed mostly upward since then.
I still think that this is a reasonable range for the next few weeks:
"......... but I think it will more likely be somewhere between $38 & $43."
Assuming that there is a distribution run-up (and I hope there is), it's tough to pick a price when bullishness is contending with fears about the next fiscal cliff. I'd be really happy with the low 38s, having bought in-the-money options for both Jan. and Feb. today. LINE, of course, could possibly hit 40 ( a longshot), but that may depend on how oil prolific the Hogshooter rigs are turning out to be. If LINE's price is winding up to pop, though, I expect that mid-January is when it happens. (Worms and early birds and all that.) Finally, I think today's trading was very encouraging after Linn's post-cliff rise. A couple of days of reasonable stability on good volume is what's needed to shake out profit-takers while not engendering a successful onslaught of sellers. Next week could be a gratifying one for longs; if I were setting odds, I'd give it 2-1 in favor.
I do not know when, but I think it will more likely be somewhere between $38 & $43.
........ and IF they buy something else (and we know they are looking since they are always looking) and if they let us know about it, then maybe somewhat more but I think that is a reasonable range for the next few weeks.
I do think that an update on these (below) will possibly provide some momentum.
This is from the Dec. 6, 2012 presentation:
"Successfully completed 12 Hogshooter oil wells YTD
Average IP rates of ~2,110 Bbls/d of oil
8 rig drilling program currently focused primarily on Hogshooter
Plan to drill an additional 11 Hogshooter wells by year-end
So, that looks like 23 Hogshooter wells by the end of 2012.
They averaged 2,110 each for the IP rates......
That is alot of oil (even with the decline rates estimated in) and,
......if they also provide an update on 2013 activity for more Hogshooter oil wells and the capex then there seems to be several things that could drive price upward.
Also, if they have even one Hogshooter well that is somewhere close to the Chesepeake record Hogshooter well then the number mentioned above may also go up a bit.
So, I think there are a few reasons that the above price range is probably likely.