no change in reporting style, page-2

Dan,

When you quote numbers can you please keep them the same.

Your Post 23/11/11 #: 7446675
3) LNC oil production is hedged at $88 pb so LNC does not enjoy benefit of any oil price rises.
4) LNC only profits by increase production provided production cost are lower than $88 pb

Your post today Post #: 7690232
As far as I have read in all reports LNC has hedged its oil production at $77 dollar per barrel so why provide an example of $100PB?

Linc Energy announcement Buying ERG October
http://www.lincenergy.com/data/asxpdf/ASX-LNC-358.pdf
Linc Gulf Coast Petroleum has also entered into a hedging arrangement with an average price of US$86.75 per barrel for a portion of the production through 2015 to ensure that cash flow is sufficient to cover interest and other ongoing expenses. In addition Linc Energy’s oil sale price is based on a premium to the Nymex, which equates to oil production from the ERG assets being sold currently at over US$90.00 per barrel. This hedging arrangement allows for Linc Energy to protect against recent market volatility while still allowing for participation in commodity price appreciation as the Company grows its production base.

Please take note of this line "a portion of the production through 2015 to ensure that cash flow is sufficient to cover interest and other ongoing expenses." Therefore not all the oil was hedged, only enough to cover expenses, no doubt the banks insisted on this.

and from today"s quarterly, they averaged $97.14 per barrel
http://www.lincenergy.com/data/asxpdf/ASX-LNC-401.pdf
Page 4 of 36
? Average sale price per barrel of oil was $97.14 for the Quarter and the average LOE of $24.26 per barrel, with Production Taxes of $3.60 per barrel.

So, yes some of the oil was hedged to WTI at the wrong price at the wrong time, but forced by the banks to give the loan. Maybe that is why they got good interest rate? Currently WTI is around $100, and LLS (Light Louisiana Sweet Crude Oil)today is $108/b and has averaged around $110 for the last 3 months. Therefore any oil anywhere near Lake Charles La will be priced at a premium to WTI, which as you know is priced out of Cushing OK at a current discount of approx $10/b to the world price of oil.

And I am still waiting to learn about the famous investor you said was buying into the company back around june when the price was north of $3.

Dan, I do't care what you write, but please keep it straight and truthful, and references would save people a lot of time chasing down your throw away numbers.