Vanguard Natural Resources, LLC Message Board

Book value is $19.42 as of March 31, 2013. I assume you are thinking it has increased some since then?

Probably not until they sell Eureka Hunter.

Don't let the name fool you. Only a small portion of their assets are in NY. Most of their MBS holdings are in CA and TX.

Couldn't find it, huh?

There are numerous reports from EQT, Halcon, Eclipse, Range,Gulfport and others stating EURs of 1.5MM plus...and guess where? (Hint: XTO now has the same acreage.)

I wonder if we'll see any more reports from other insiders? Seemed an opportune time, didn't it?

Aw, you can find it if you look hard enough.

And maybe you should also track down today's WSJ article about Harold Hamm and his insider deal with his brother in law where CLR is going to buy a $100MM pipeline that isn't needed and CLR will pay him (the BIL) whether or not they ever use it. No conflict of interest there, what?

Yes, odd isn't it how he can push through a $100 million pipeline for his brother in law that isn't needed and CLR will pay his company whether or not it is ever used.

MHR CEO today also confirmed their UTICA wells have an EUR between 1.5 and 3MM BOE.

How many years will they be there? Long after Bakken plays out with only 700M EUR of CLRs wells in Three Forks plays (according to the recent SA article from Zeits). How about FOUR TIMES as long?

Pay date is 5/30/13. The company website is a valuable resource for these types of questions.

The only issue you'll need to be aware of is that LNCO's dividends are tax deferred until you sell the shares. You will receive a 1099, not a K-1, but you will need to keep track of your dividends and shares if you plan to keep them long term.

For example, suppose you own 100 shares of BRY and after the takeover you will receive 125 shares f LNCO. For simplicity, assume the shares of LNCO at the time of the takeover are $40, meaning you'd get the equivalnet of $50 for your BRY shares, or $5000.

The first year (2013) you will receive $1.50/share (almost) for each share you own in dividends, or $187.

Your basis in the LNCO shares is reduced by that amount, to $4813. (You will need to calculate your own basis for any BRY shares you own, and figure accordingly.)

At the market opening on the ex-dividend date, the stock will trade on an ex-distribution basis, adjusted for the amount of the dividend paid.

This is because the total net worth of the company has been reduced by the amount of dividend that will be paid. As an example, if you had a dollar (and that was your net worth) and owed your sister thirty cents, after you paid her, you'd only be worth seventy cents.

Read the threads. Ex-dividend TODAY.

A similar question was asked at the meeting, but more geared to how the growth of BDCs in general have increased competition in the sector. It is a challenge, they said, but feel they have the right team in place to acquire the types of companies that will be accretive to cash flow, etc. (pretty standard answer, what do you expect to hear at a public forum?) I think they'll have to be selective and might be difficult to grow as much as they have been. But they have a lot of dry powder to use. There also may be repurchases of loans by the companies they finance which will add to the cash balance.

Thanks for your continued support.

Not too far. maybe by 2020.

IPO was last Friday. Price adjusted first thing this morning due to dividend. Recovering nicely.