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Linn Energy, LLC (LINE) Message Board

  • dolfanluv dolfanluv Jun 13, 2013 2:43 PM Flag

    I'll say it again .... Thank you! Thank you!

    Divi isn't getting cut. Ebola didn't hit Berry. Asteroids aren't striking the Earth. The shorts successfully brought the price to the point where they triggered sell stops. It's called capitulation. We're gonna hit 5+ million shares traded today... LOL The float on this is so small it's relatively easy to manipulate the price when everyone sells in concert...

    Let the dust settle and back up the truck

    Sentiment: Strong Buy

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    • I would disagree with you on your comment that the float is so small on this issue that it is easy to manipulate. We are talking about one of the top 20 E&P companies in the US, a top 10 MLP. This is not an easy issue to manipulate.

      What we are seeing is the market starting to recognize that Linn's strategy isn't really unique. The are far more disciplined in hedging forward, but others such as MEMP are closing in as runner ups. Their cost of capital advantage is now mostly limited to LNCO and their borrowing ability. Their cost of equity capital has climbed as the unit price has declined. Granted, they still have no IDRs, which is a tremendous help, but these guys have very little now that really stands out. Organic growth will be very difficult with 300+ million units outstanding. They have to fight natural decline, the downward trend of their natural gas hedges, ethane rejection (due to low NGL prices), heavy demand for services etc.

      All that being said, I have a ton of cash ready to jump in if it gets much cheaper.

      Hey, isn't Linn bond supposed to be at $40?

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