Replies to post #1890 on Breitburn Energy Partners LP fka BBEPQ

[Olde English 800]

ED, at the time the company filed BK, oil prices were said to be around $26 per barrel. As of today at $50 per barrel and expected to rise even higher as November approaches, due to some OPEC deal. This increase in oil price now increases the value of company assets, as it increases its value of its reserves, and revenue. Don't forget that.

[LostBall]

Ed, Folks really just don't understand what we have here. Look at the valuation you referenced, that is entered on the docket. Look at therir own balance sheets and Monthly Operating Reports. They all confirm that there is approxiamely 1B in Assets above Liabilities!!! This is like a gift when the Judge ordered the Trustee to appoint an EC. It was obvious the creditors appeared to be trying to "steal" the company in cohoots with current management, see generous retention bonuses. They didn't want an EC because they knew they would have to share the company with the shareholders with Equity representation at the table. Hopelessly insolvent seems laughable with what is in these reports.

As far as CODI goes, my understanding is it couldn't be applied until they exit BK, which is a long ways off. There is not a guarantee it will be applied at all, depending on how they handle their debt.

I can see this getting to $2.00-$7.00 based on the reports referenced aboveboard, but if a white knight comes in to buy the company, who knows. No brainer from here.

All above, in my humble opinion.