Dan I think quite a few here agree with you on this issue they just don't agree with all your negativity. What I mean by this is your endless repetition on cash burn etc, you've made your point, we get it. However since you like to criticise, lets look at some of your statements. The first is that the oil fields in the us are debt funded and so add nothing to income is rubbish. Costs for the borrowing are at 3.1% and costs approx 9.3 mill a year. Oil income WITHOUT any increase in production is approx 16.7 mill (at $92 a barrel). I'll admit I didn't allow for costs but I also didn't allow anything for EOR. As well as I can work it out linc has income from oil at about 7 mill from the new fields, 1.2 from existing and 12.2 mill in interest ( although this is diminishing as cash diminishes and I don't know if their commercial UCG operation earns anything). Next quarter they expect to spend 49 mill and probably less over the following quarters as they seem to have major expenditures now eg ackaringa seismic and gasifier 5/6. So they probably have a little longer than you stated left before they need to find more cash. Now, if you look at what is driving this expenditure you will see that lincs net worth is made up of huge tenements and proven coal and oil reserves as well as investments in many other alternative energy companies as well as development of technologies, future royalties etc. So the money is not going into thin air. Their lending is minimal and if you read their statement on Teresa they say the sale is in the final stages ( you have criticised before the timeline of 90 days is up, work it out). Now i don't know about you but I take all of the above as positive: low debt, income which will increase, large valuable tenements, UCG in the US. Possible massive oil in ground etc etc etc. If the worst comes to the worst which I don't believe,they can borrow a little more without too many problems. So Dan take a chill pill, as its all happening with linc and I think, just think that they know a little more about their plans than either you or I do.
LNC Price at posting:
$1.98 Sentiment: LT Buy Disclosure: Held
