LYNDEN ENERGY CORP. V.LVL

Brief update provided.....

[zadman]

By keith schaefer of the oil and gas investment bulletin to subscribers.  In a nutshell - he continues to believe wolfberry acreage alone supports current mkt cap easily with room for a substantial premium should a buyer come calling.

 

Current hype around the shareprice is likely being supported by rumors of a 1000+boe/day well hit by private co just south of mitchell ranch.  In addition, Devon is getting ready to punch a hole near the north boundary of our M.R acreage.  Lots of activity in the area for sure.  With some success, the market can start ascribing a value to our mitchell ranch acreage which only adds to the above undervaluation situation on our producing assets.  

 

Despite the run, he is saying he is more inclined to buy here than sell and take profits.  Personally, I think the uncertainty regarding how we fully fund our 2013 capex plan is holding us up a bit.  If they squash those concerns with even a small asset sale that supports that 25k/acre land value thats getting thrown around in the permian, i think we can jump nicely higher.  Success around mitchell will be gravy on top.  Of course, i have been here a LONG time and have seen several actions by mgmt that i would describe as hardly being shareholder friendly so one cant write off the possibility of a financing to further grease insiders pockets.  I am gonna stay on the ride a little longer until the number i originally envisioned arrives - i hope by early spring.....

 

Zad