$3 is considered the major support. If that falls...it could go anywhere. Unlikely to fall below $2 I would think.
At this stage, its not really about Linc anymore - its just the financial crisis facing the whole world. Quality companies with quality projects are being sold down haplessly. People just don't want to buy until some semblence of reality kicks in. And it's not helping that the oil price has crashed about $50 - thats a $1m a day the company isnt making on 20k bbl/d production.
Having said all that, if the liquids is sucessful and the Xinwen deal goes through to completion....Linc is a ONCE-IN-A-LIFETIME opportunity to load up. Who knows where world markets will be in 5-10 years time.
LNC Price at posting:
$3.24 Sentiment: LT Buy Disclosure: Held
