...at a golf outing. His feeling is that the merger will be a go because of BRY's heavy institutional ownership. He feels the accounting issues are completely overblown and that a year from now post merger the combined company is $35+ per share. Nothing new to the denizons of the Board, but nice to hear it confirmed by an independent voice.
Virtually every "real" financial analyst has given LINE a thumbs up. At some point, I am going to be all in. I think that if it ever hits $21 I won't be able to resist adding a bunch to a position that is already way way way overweighted in my portfolio. .
Acceptance of the S-4 and the implied conclusion of the informal inquiry will open the door to institutional buying and should put LNCO shares up to the mid $30 making the BRY vote a referendum on distributions and future oil price. The only reason I can see for BRY to vote no is the expectation of higher future oil prices in the short term.
Last I checked, the div was not being cut, and the production shortfalls are addressed and in process of being corrected... So what is "everything else"?
Did I miss something? I did take the weekend off and had a bit of fun...
Sounds like he is smoking the same thing GS is. Did he say the merger was a go at the current exchange rate? If so, Lnco needs to get back to 35 before the Bry shareholder vote not a year from now. In addition to the lower price and increased risk in Lnco shares. WTI has increased significantly since the merger was negotiated. I'm thinking that the institutional owners will want more than is currently on the table. IMHO
BRY owners know LNCO will rocket higher when they approve the merger. These are not stupid people we are dealing with here. Looks to me like the institutions are shaking out the retail suckers with all this misinformation. To load up on the cheap.