LINN Energy (fka LINEQ)

[1manband]

Linn will not be around in 1 year. The confirmation hearing for the Bankruptcy Plan is January 24th. The unitholders are being wiped out without any compensation under the Plan. And that is very unlikely to change.

[Advice_Needed]

SARAQ...i think linn will do the same thing in one year if oil and gas can stay at a reasonable price.

[FROZENFLAME]

This will be $1.00 soon.

[MasterBlastr]

Just traders who don't do anything but play a video game trading the chart. When the plug gets pulled, they look startled for a second, then they go look for another chart.

[ara1961]

Thanks for your answer.
I guess I will hold my Shares.

GLTA

[Advice_Needed]

If natural gas comes back to $3 Mcf and oil stays above 50 bucks a barrel...yes...they will be similar to ultra. They may even get an extension on their time table after seeing the ruling on brietburn energy. The banks and creditors can't afford to eat the 6 billion dollars linn energy owes.

[ara1961]

Quote
" Anyone left holding shares is guaranteed to lose 100% of their investment once the Plan is confirmed."

So who is buying the Shares if they are going to be worthless?

I had UPLMQ Shares and sold it too early because I panicked

Now the question is can LINEQ do it without the investment plan?

GLTA

[ara1961]

Quote
" Anyone left holding shares is guaranteed to lose 100% of their investment once the Plan is confirmed."
So who buys the Shares?

I had UPLMQ Shares and sold it too early because I panicked

Now the qusetion is can LINEQ do the same before the plan is confirmed?

GLTA

[1manband]

Why would it bounce? The shares are going to be cancelled by the bankruptcy court under the Plan of Reorganization. Anyone left holding shares is guaranteed to lose 100% of their investment once the Plan is confirmed. Which is why people are dumping at any price.

[ming1234]

bounce tomorrow?

[Mark80]

If the price of gas goes up above $ 52 mark then this stock could hit $0.50 easily....
Let's hope and wait...
Happy trading...

[1manband]

Can someone please explain whats going to happpen here with common shares...thank you

Under the current Plan of Reorganization as proposed, the existing common shares are going to be cancelled. Common shareholders will receive nothing.

"All existing equity interests of the Company will be extinguished without recovery."

Common shareholders are last in line for assets, and only get what is left after all debtors and creditors in front of them are paid in full for what they are owed. Based on the recent financial statements and the restructuring plan, Linn is far short of being able to repay what those other classes are owed. So, they will receive shares in a new company in lieu of amounts owed, and old common shareholders get nothing.

That is how bankruptcy works.

You may find this SEC bulletin on corporate bankruptcies helpful:

https://www.sec.gov/investor/pubs/bankrupt.htm

[4min]

Can someone please explain whats going to happpen here with common shares...thank you

[ara1961]

Thanks

[4min]

So, unsecured is the common shares? Correct, sorry if it is a stupid question still trying to figure out..thanks

[Lone Wolf]

LoL. Indeed!! Thanks for sharing!!

[MisterOpertunity]

I hope this helps " The holders of the Company’s Unsecured Notes will receive their pro rata share of (i) a to-be-determined percentage of the New Common Stock; and (ii) certain rights to purchase shares of New Common Stock in the Rights Offering, as described below."

So much to go over.

[ara1961]

“All existing equity interests of the Company will be extinguished without recovery.” on page 4 for to render the LINEQ and LNCOQ stock worthless.

http://ir.linnenergy.com/secfiling.cfm?filingID=1193125-16-734833&CIK=1326428

What does it mean for our Shares????

Thanks

[Lone Wolf]

Thanks...I've stopped trying to understand the logic of the markets. Take for example, KEGX, same exact situation...minus the 'Q'...little movement since these started running. Probably more clarity there and more speculation here and in BBEPQ, but whatever...as long as we're making cheddar, I'm good!! lol

Happy trading Up!!

[Mean Weimaraner]

Yup bought big @.38 break

[UP Trend]

Wow, bbep had the news but these guys are almost surpassing them.. Congrats!!

[Lone Wolf]

Juggernaut!!!

$LINEQ

[Mean Weimaraner]

.38 break

[OTCWealth101]

Where is it going? Ideas please

[TrendTrade2016]

LINEQ gaining serious traction which will beat BBEPQ

gl
trend

[OTCWealth101]

Will this surpass BBEP* ?

[Lone Wolf]

Spot on!! Another beautiful green day!! My portfolio is really feeling happy right now!!

[Chance]

traded the day...

2 positions as usual
took profits with one
still in at the close
with the other

[Majk76]

Oil is going up in bigger steps now....

[Majk76]

I think we will see HOD at end and tomorrow stronger day like yesterday was !!!!

[Lone Wolf]

Saw that. It was like 100k sitting in the ask at .27 and was taken out in the blink of an eye...and none of yesterday's gains have been given back! Talk about continued strength!! Loving the trade here!

[Majk76]

BIG BUYS !!!

[Lone Wolf]

Oil's up. Looks like we're heading for another explosive day with LINEQ!!

[Lone Wolf]

Awesome day!! Beautiful close!! Even did better than the MJ plays. Couldn't ask for a better start on the week.

[Chance]

right on targets....

with LNCOQ and BBEPQ ' 2

[Lone Wolf]

Looks like the treck higher has re-commenced now that lunch is over!!

$LINEQ

[OTCWealth101]

Any other oil Q's that are good?

[OTCWealth101]

Will LINEQ get an EC approved just like BBEPQ ?

[ClearlyStocks]

LINEQ .25

[UP Trend]

I should have jumped in but just too many green plays to follow. Congrats!!

[Lone Wolf]

Bailed...but got back in on the pull-back below a dime. Those big movers have a tendency to lift many ships...especially when the markets look like chit!!

[TrendTrade2016]

sold BBEPQ early will not make that mistake here. holding all oil Q's oil is about to move north in coming weeks! I think we can see oil at 72 bucks in the next few months!!

glta
trend

[UP Trend]

Congrats!! Bailed last week, figure money is better spent with bbepq for now with ruling. Gonna be a nice squeeze for you all.

[ClearlyStocks]

LINEQ .015

[Lone Wolf]

Yes sir! You got a new monster in the making!!

$LINEQ

[TrendTrade2016]

LINEQ making its move. possible BBEPQ run in tact!!

glta
trend

[ClearlyStocks]

LINEQ Q madness. Loving .011

[Lone Wolf]

Very nice volume out the gate this morning!!

$LINEQ

[etzetrade]

Thank you very much.

[Chance]

moving averages primed...

better than a long time
share price closing above the 50day
all week's positive indicators
positive crossovers

http://stockcharts.com/h-sc/ui?s=LINEQ&p=D&b=5&g=0&id=p13301426644

http://stockcharts.com/h-sc/ui?s=LINEQ&p=D&b=5&g=0&id=p65197523214

http://stockcharts.com/h-sc/ui?s=LINEQ&p=D&b=5&g=0&id=p57171785421

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