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BBEP a possible double

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December 05, 2009 – Comments (2) | RELATED TICKERS: BBEP , PVR , MMLP

I've been a fan of many mmlps.  Many have doubled in price from my recommendations with excellent yields.  PVR, EVEP, EEP, LINE, MMLP just to name a few.

BBEP is an independent oil and gas exploration company.  It ceased paying distributions since 1st Q and saw its shares stay surpressed in value.  It's last payment was at .52.  It is currently involved in a lawsuit with one of its major shareholders, Quicksilver.  The crux of the dispute involves BBEP apparently unilaterally changing  rules to limit Quicksilver's right to vote for board of director members.  While who controls board of directors can be meaniningful it is unlikely that it would be ultimately harmful to the company.

By suspending distributions BBEP was able to reduce debt. Eventually distributions will commence.  I submit you will see a major move upward for the stock once that happens.  Now is the time to accumulate (closed friday at 10.43).

I am long BBEP and have been accumulating it.

2 Comments – Post Your Own

#1) On February 25, 2010 at 11:26 AM, BucknFl (< 20) wrote:

I wouldn't be surprised if it hit the 20s by the end of 2010.

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#2) On January 05, 2011 at 2:18 AM, awallejr (83.91) wrote:

Well it did heheh.

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