Lightstream repurchases shares

[k1f]

10% of float, window of 11/14 - 11/15:

<<http://finance.yahoo.com/news/lightstre ... 00700.html

[bobs]

This strategy by management makes sense for almost all our beaten up E & Ps if they have some cash around.

[dan_s]

I can tell you that Lightstream management thinks the shares are grossly undervalued by the market. I think the break-up value is AT LEAST $7/share.

[llm_cfp]

Dan,
how do you think they would fund the buy-back? cash or loc? it would make sense to purchase/cancel shares that yield a percentage above the revolvers' interest rate(arbitrage) until revolving debt is semi close to total debt/ebita convenants...what do you think?

[dan_s]

Hard to tell, but they should have enough free cash flow from operations to fund some buybacks.