Tuesday, March 30, 2010

Linn Energy Announces Third Permian Basin Acquistion!

Linn Energy announced their third Permian Basin property acquisition for $305 million. The price is valued at $109,000 per flowing barrel and $17.00 per proved Boe. It appears that Linn has purchased the properties at a premium to recent Permian Basin acquisitions. We believe this is due to the upside potential of the Wolfberry play. Linn has the potential for approximately 125 probable Wolfberry drilling locations.

Raymond James has reiterated their Outperform rating for Linn as they believe that Linn is capitalizing on opportunity including upside potential in the Wolfberry play.

This is another example of a company paying a large sum for Wolfberry play exposure. Each acquisition draws more attention to the Wolfberry play and Lynden Energy Corp.’s (LVL) terrific opportunity. It’s possible that LVL could be an acquisition target at some point in the future depending upon their success in the Wolfberry.

Monday, March 29, 2010

LVL up 20%!

Lynden Energy Corp. (LVL) saw another big jump in their stock price on Friday. The stock closed at $0.71, up 20% on the day. Their recent success in the Wolfberry play is not going unnoticed and the company is attracting attention.

Wednesday, March 17, 2010

An Exciting Day for Lynden!

An exciting day for Lynden Energy Corp. (LVL)! With the recent news announcing the success of LVL’s second and third wells, the stock price jumped 34% today up to $0.55 on over 2.4 million shares. The recent news shows that LVL is capable of repeating the outstanding results they achieved from their first well, Harrell 34 #1.

It’s worth noting that 811,000 shares were purchased in the market by Richard Andrews, the Chairman of the Board!

Lynden Announces Successful Completion and Tie-in of Second and Third Wolfberry Wells

Lynden Energy Corp. (LVL) announced that the Miller Trust #101 and Mallard 23 #2 wells have been tied into production. The Mallard 23 #2 is currently producing at a rate of 83 bo/day and 344 mcf/day. The Miller Trust #101 is producing at a rate of 75 bo/day and 70 mcf/day. LVL states that they are especially encouraged by the initial results from the Miller Trust #101 given that they could not drill down to their target depth to test two deeper targets. Both wells are still returning completion fluid and we believe that flow rates can be expected to increase.

They also reported that the Harrell 34 #1 well has produced in excess of 6,500 barrels of oil and 14 mmcf of gas since being tied in. Their Roy 1 well has also been completed and scheduled to be tied into production shortly.

These are very encouraging results and we expect that this news will not go unnoticed by the market. At its current price of $0.41, this company is dramatically undervalued and a strong buy at these levels. LVL's opportunity for a large stock price appreciation is outstanding!