Bullish
$LLEX with shut ins and impairment hurting them, they are cash poor...up to their limit...and a reassessment in next couple weeks of credit line could tighten even further. So they need to reevaluate...best news from report/call is they hired advisor and benchmarked their non-producing acreage at 33K/acre...producing should be north of that...which puts the asset value at about 750 million, less 475M liabilities, thats over 2 bucks/share in positive book...look for a sale/merger at 1.40-1.60 per in next 90-180 days, I'm thinking. BTW, advisors don't make much unless there is a transaction.
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