Constellation Energy Partners LLC (CEP)

[OilStockReport]

If CEP gets its financials in order, and looks like it will, a distribution could be coming, possibly in 2011. Other MLPs which have dropped their distributions are on the rebound. BreitBurn Energy Partners (BBEP) has restored a distribution this year. Atlas Pipeline Partners (APL) and Crosstex Energy (XTEX) are hinting at resuming distributions shortly. Unit prices for these MLPs are in the high teens based on optimism about distributions. Patient investors who are willing to wait until next year, perhaps later in the year, will be rewarded if a distribution is restarted. When energy business at MLPs is strong, it could benefit, and, being a marginal (risky) MLP, CEP should see the greatest gains.