Has everyone noticed that Cramer and his soon to go busted newsletter has stopped bad mouthing LINE for almost the past 2 weeks, and that finally he is starting to get a little bad publicity. Also more folks are classifying him as an entertainer, certainly not a stock guru.
I was referring to the Saudias and I stand by the $40 as their cost to produce a barrel. They get almost 90% of their income from oil and their budget for the country depends on over $90 to keep it
balanced. They make money on $40, but their living expense is $90, this doesn't bode well for a balanced budget. They also have about $300B in the bank. So they have a pretty good window in which to operate.
Isn't interesting how The Street has not even acknowledged a major event like the closing of two major contracts worth over $2B.
. Of course no one would think them biased, even tho they stressed the downgrades and the pps
tanking on an up day.
Fidelity buys those shares 3 days before the distribution date. Shares you receive today were bought last Thurs.
Though LINE is a very, very public company if one looks closely it operates more like a private company. The management has a very, very large amount of skin in the company. Which means they are just as concerned with the distributions as the PPS. Sure they make a nice salary running the company, but their real money comes from the performance of the stock price and the distributions. It also helps that they will not agree to be bought by a larger company at these prices which could easily happen to some of the MLP's who don't have any cash or big line of credit. As I have stated before I believe in the management of this company, not only because because they have shown prudent judgement in the past, but they have just as much or more to lose than most of us on this message board.
Word among the MM's around noon yesterday that the deal would not close,hence the big increase in volume. Truth is the deal was being closed as they spoke.
The monthly distribution shares are bought 3 days before settlement (pay date) at Fidelity. So today's announcement will have no affect on tomorrows distribution ( if you trade at Fidelity) I don't know about the others.
Seems we are in the same boat. I also bought about 6 years ago and added a little along. Have a few more shares. I guess some will call me crazy, but I still believe in this company and it's management. I just do believe it can be one of the best companies in the oil business and a year later dumped on by folks like Cramer and the folks on SA ( which as I understand is not even a US company.)
Actually you can find it on the LINE press releases. Dated Oct.3, just scroll down to FOUR POINT and read the joint news release. In the enervest news release it also says FOURPOINT wil contribute $ 950M and ENERVEST $950M to be closed on or before Dec. 15. 2014.
I do not joke about LINE and LINC, I am into these two companies far more than I care to admit.
According to the Enervest web site the $1,9B contract was supposed to close on or before Dec. 15, 2014. According to LINN web site it is supposed to close in 4th qtr. I have called IR, but have gotten no response. I do not have any particulars on this contract, but I would think there would be a penalty clause in it. Does anyone have any knowledge on this closing?