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Thursday, November 13, 2008

Dow up over 100 and as high as up 160 a few minutes ago. It looks like the retest was succcesful but i will wait for the close. MLPS reversing as well down less than 2 points on the mlp index and remember it takes time for us to play catch up. Looking for a wild last hour.


Anonymous said...

horrible performance by the mlps today. as usual we participate fully on the downside and watch the world go by on the upside...

Anonymous said...

Should be good news

Eagle Rock Energy Partners, L.P. (NASDAQ:EROC) ("Eagle Rock" or the "Partnership") today announced that certain of its affiliates have authorized the purchase of up to an aggregate of $2,000,000 of Eagle Rock common units. The affiliates are owned by certain members of Eagle Rock management, certain other individuals, and certain Natural Gas Partners investment funds. The common units may be purchased from time to time in open market transactions, including block purchases, or in privately negotiated transactions and are authorized to occur between November 14, 2008 and December 5, 2008, which is an open window period under Eagle Rock's insider trading policy. The timing and the actual number of Eagle Rock common units purchased by the affiliates will be on a discretionary basis as determined by the affiliates' management and will depend upon a variety of factors including price, economic and market conditions, applicable legal requirements, including Rule 10b-18 under the Securities Exchange Act of 1934, as amended, available liquidity and other appropriate factors as determined by such officers.
"The desire of Eagle Rock's affiliates to purchase common units reflects their confidence in Eagle Rock's operations and belief that the common units are currently undervalued and represent an attractive investment," said Joseph A. Mills, Chief Executive Officer of Eagle Rock Energy G&P, LLC, the general partner of Eagle Rock's general partner. "Because the purchases are not being made by Eagle Rock Energy Partners, L.P., the purchased common units will remain outstanding and any purchases will not have an accretion effect to the Partnership."
The Partnership is a growth-oriented master limited partnership engaged in three businesses: a) midstream, which includes (i) gathering, compressing, treating, processing, transporting and selling natural gas, and (ii) fractionating and transporting natural gas liquids; b) upstream which includes acquiring, exploiting, developing, and producing oil and natural gas properties; and c) minerals, which includes acquiring and managing fee mineral and royalty interests, either through direct ownership or through investment in other partnerships in properties located in multiple producing trends across the United States. Its corporate office is located in Houston, Texas.

Anonymous said...

$2mil is meaningless...