After Barrons article etc is LINE a buy @ 30?

[bobs]

YIeld (if real) is almost 10%.

[dan_s]

As long as oil & gas prices hold up until LINE closes the acquisition of BRY the answer is YES, it is a buy at this depressed level. They will hedge a very high percentage of their forecast production, if they haven´t done so already. I´ve seen nothing to indicated that either company does not want the deal to close. It is a large transactions and these deals can take time to close, especially because it is LINE´s first takeover of a large C-Corp. Plus, there are a lot of Berry employees that need to transition over to LINE. When people are involved these deals always take longer.

The acquisition makes LINE more heavily weighted to oil, something I like a lot.

Berry Petroleum adds premium assets to LINN's portfolio. Berry has about 1.65 trillion cubic feet of natural gas equivalent of proved reserves. About 67% of its reserves is oil, 26% is natural gas, and the rest is natural gas liquids. Further, about half of Berry's production is in California, while just under 20% of its production is in the oily Uinta Basin, which is a new operating area for LINN. Finally, there is substantial upside to Berry's portfolio as probable and possible reserves are estimated at 3.8 trillion cubic feet of natural gas equivalent.

The large funds that invest in MLPs are more focused on dependable yield than growth. They are more conservative. I just think the recent confusion and the Barrons article has frightened off some weak hands. LINE is the largest upstream MLP. I think it will be back up into the high $30s after the BRY deal closes.

[setliff]

linn is still plumenting--i would wait for some indication of bottoming.

[dan_s]

High volume today when it dipped to $29.10.

[setliff]

we've got a bottom---maybe temp, time will tell. it was on very high volume.

[ghrcap]

Leon Cooperman of Omega Advisors touted LINE today on CNBC, also ARP.