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Linn Co, LLC Message Board

rogerc39 10 posts  |  Last Activity: Jan 23, 2015 6:36 AM Member since: Mar 9, 2005
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  • Reply to

    RIG or SRDL?

    by engine_computer Jan 22, 2015 11:04 PM
    rogerc39 rogerc39 Jan 23, 2015 6:36 AM Flag

    Jump all over Enron. It is on sale still at less than a penny a share. You never know.

  • rogerc39 rogerc39 Jan 21, 2015 9:12 AM Flag

    If this is indeed the bottom for oil, which I really do hope but who knows, then deep water and SeaDrill will be OK. Adjusting for somewhat lower dayrates, 48 where Brent is right now is just about the break even point according to the chart SeaDrill put out a couple of months ago which showed 52 for deep water. Since deep water wells are expected to produce for 10 to 30 years the oil companies will assume that oil will not stay flat at 48 for 20 years and will keep on drilling with SeaDrill's ships.

  • Reply to

    Earnings report?

    by coffeefien39 Jan 15, 2015 8:37 AM
    rogerc39 rogerc39 Jan 15, 2015 9:22 AM Flag

    Etrade now says after the close on Friday. Etrade has reset the date three times this week.

    Sentiment: Buy

  • Reply to

    Gap down coming, we is stuck now.

    by rogerc39 Nov 26, 2014 4:11 AM
    rogerc39 rogerc39 Nov 26, 2014 5:07 AM Flag

    I bought as a multi-decade hold to pass on. I liked the dividend but I can take a dividend-less year or two if it improves the company's chances of surviving and prospering going forward. I think this move does so. Fredricksen seems to have learned a lesson from his FRO problem.

  • Looks like a gap down to 15 to 17 area. At least uncertainty about dividend is over. Yuck. Seems to be quite a few contract extensions.

    Is the strategy to drive the price down and buy back ten percent of the shares super cheap before the stock price moves back up? John does think out of the box.

    At the least SeDrill is making moves to eliminate bankruptcy fears and accumulate some cash for bargain hunting while the industry is on its posterior.

    Sentiment: Hold

  • Reply to

    OK we sold West Vila to SDRP

    by rogerclaraw Nov 4, 2014 9:51 AM
    rogerc39 rogerc39 Nov 4, 2014 10:03 AM Flag

    At first glance it looks good to me. Almost half a billion dollars of Seadrill's debt is wiped out, Seadrill gets a couple hundred million in cash, and for five years until the contract runs out Seadrill gets 84,000 dollars a day.

    Of course after 2020 the ship will be gone from Seadrill (technically) instead of making money for Seadrill. Times are getting tough right now for drilling companies and this looks like a good idea to shore up the balance sheet.

    Not real sharp in this type of finance so if I understand things wrong someone please correct me.

    Sentiment: Hold

  • Reply to

    Options

    by jim06744 Oct 17, 2014 1:00 PM
    rogerc39 rogerc39 Oct 17, 2014 1:49 PM Flag

    "They" will likely tell us exactly what to deliver once the rights have expired. Never been in this type situation before so just guessing. Maybe if the rights expire selling for 40 cents "they" will make folks like me who are short the calls deliver 40 dollars per call immediately. But if so who would I deliver it to? Would it complicate my income tax return for a piddling sum? Reckon we just wait and see. As you say a minor thing really but interesting.

    Sentiment: Sell

  • Reply to

    Options

    by jim06744 Oct 17, 2014 1:00 PM
    rogerc39 rogerc39 Oct 17, 2014 1:16 PM Flag

    I am short a few January calls. Etrade changed the symbol from SHLD to SHLD2. The contract was changed to me delivering 100 shares of SHLD and 100 rights if the calls get exercised. The rights will expire in a couple of weeks or so. I imagine they will use the final trading price of the rights and make me deliver that in cash along with 100 shares of SHLD. Maybe some formula to determine the amount of cash. Maybe a little cash for the rights even if the contract expires worthless as far as the stock itself is concerned.

    Sentiment: Sell

  • Reply to

    Edgar filings on Ackman and PAH

    by spirallocks Oct 13, 2014 6:19 AM
    rogerc39 rogerc39 Oct 13, 2014 8:35 AM Flag

    Ackman is a clown maybe but I got a six-bagger following him into GGP when it was in bankruptcy. He has had, and will have in the future, his moments.

    Sentiment: Buy

  • Reply to

    Falling knife.

    by danreeves1982 Oct 10, 2014 10:02 AM
    rogerc39 rogerc39 Oct 10, 2014 11:11 AM Flag

    Saudi Arabia supposedly needs 100 dollar oil to fund its budget. However if oil is a little below 100 Saudi has a mere 400 billion dollars in reserves available to make up the difference. Saudi could take several years of low oil prices easily.

    Sentiment: Buy

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