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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Fugitive Pauper who wrote (98573)	4/2/2008 10:32:31 PM
From: Ed Ajootian	Respond to of 206227

Fugitive, great call on your ENP buys. That sounds like a great hedging strategy. At this point I wish Linn did that (of course!). One card that is left in Linn's hand is the possibility of selling their Appalachian gas wells for a volumetric production payment (VPP). Chesapeake did one of these about half a year ago, and pocketed something like $5/mcf I believe. Linn might be able to get something like $6/mcf today. The proceeds could be used to buy out some or all of their underwater hedges and to pay down some of their debt.