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American Capital Agency Corp. Message Board

call_center_tech 4 posts  |  Last Activity: Apr 30, 2016 12:51 PM Member since: Sep 7, 2012
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  • call_center_tech by call_center_tech Apr 30, 2016 12:51 PM Flag

    Looking at Linn's last quarter balance sheet, its oil and gas properties are valued at $7.5B as of 31 Dec 2015. This is down 25% from the 30 Sep 2015 balance sheet valuation. Is this property asset valued at the last day of the quarter, or does Linn use an average value during the reporting quarter?

    This last quarter was the first one where stockholder equity turned negative.

    Oil prices are currently 38% higher today than 31 Dec 2015, making Linn's oil and gas properties worth $10.35B (if the reported value was as of 31 Dec). How does that affect the bank's loan/asset coverage ratios? If this number is accurate, Linn stockholder equity has now turned positive, which makes BK a little dicey for mgmt. when stockholders could claim they had value taken from them based on the intrinsic value of the assets of the company vs debt.

  • Reply to

    See you later LINN and LNCO

    by opinionsarelike33 Apr 15, 2016 8:30 AM
    call_center_tech call_center_tech Apr 15, 2016 2:17 PM Flag

    This is OLD NEWS! Article posted in Houston Business Journal (available on Yahoo Financial News) on March 15 (30 days ago) states:

    "In its earnings report, Linn also noted other circumstances could cause the company to be in default of debt agreements. As of the March 15 report, the company is in default of its credit facility because it had to include a paragraph regarding doubts about the company’s ability to continue as a going concern. It has a 30-day grace period to obtain a waiver or similar relief."

    The only NEW NEWS is that Linn paid interest due on the preceding debt during its 30-day grace period, which is GOOD NEWS.

  • Reply to

    See you later LINN and LNCO

    by opinionsarelike33 Apr 15, 2016 8:30 AM
    call_center_tech call_center_tech Apr 15, 2016 9:32 AM Flag

    The last paragraph you quoted from Reuters is 30 day old news. The stock is going up because Linn made its interest payments that were deferred 30 days ago and is now in negotiations with other creditors, opting to delay those payments as it did a month ago. This is not the doom and gloom you make it appear.

  • Reply to

    Dividend coverage

    by topline1 Apr 14, 2016 11:48 AM
    call_center_tech call_center_tech Apr 14, 2016 12:01 PM Flag

    Read the transcript of the last earnings conference call. Last quarter was an anomaly based on timing of closed business and mgmt. holding cash to wait for better investment opportunity.

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