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Vanguard Natural Resources, LLC Message Board

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  • ltbhdollars ltbhdollars Aug 30, 2010 5:08 PM Flag

    Hope the natural gas price doesn't stay down here . . .

    We pay these guys to have a vision, focus and follow through execution ... they are our employed managers and hopefully they know alot more than we do on this subject ... if we are lucky they may even see a few opportunities the other guys don't.

    I am willing to let them manage and see how things unfold. Following the herd does not mean its the right or best or correct path.

    Our guys pulled in all Capex as their method of choice in dealing with the recent credit crunch and this was a successful approach that was also different than the herd ... some decreased Capex but they did not virtually eliminate same.

    They will either be heroes or dunderheads and only time will tell. They could well choose to shutin NG until nets hit a reasonable level and as long as it doesn't damage VNR and DCF/distributions remain strong then there's no wrong methodology.

    Most performance hindsight and related warm fuzzies are based on how good your initial buy point was ... mine was $5.31 late Dec 2008 and I have since sold 30% of original position at 2.5x and another 30% at 3x while also collecting $3.60 in distributions ... am sure this influences my opinions to an extent, just as it would if I was underwater.


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