The PR from LNC is always excellent and that's where it starts and ends .PB can write whatever he likes but the fact if the matter is the downsizing and cost reduction is due not because the oil price is down ( hedged ) but LNC has overspent and are so low on cash that it's their only option!
Cut staff and cut expenses . The fixed cost are the problem massive debt and huge interest bill will falling asset prices and revenue means only I thing the only way forward is to raise capital !
I'm sure as hell will never be giving this mob another dollar to invest as their track record on oil investments is horrendously poor !!!
All the spin in the world is not going to increase the bank balance !!! Here's to 10,000 barrels by Christmas .... LOL
LNC Price at posting:
99.5¢ Sentiment: None Disclosure: Not Held
