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Magellan Energy, Ltd. (MGLG)

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Last Post: 10/13/2016 3:31:54 PM - Followers: 262 - Board type: Free - Posts Today: 0

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Magellan Energy Ltd. is a growing and experienced energy company focused on acquiring and partnering with existing producing junior properties in North America. Magellan Energy Ltd. is working to establish itself as a world-class oil and natural gas company, capitalizing on smart acquisitions and having great relations through partnerships.


Latest news from MGLG


Magellan Energy Ltd. Issues Additional Information on the Potential for the Lankford Lease

TORONTO, Jul 22, 2009 (MARKETWIRE via COMTEX) -- Magellan Energy Ltd. (PINKSHEETS: MGLG) ("Magellan" or "the Company") is pleased to provide shareholders with additional information on its Lankford Lease. The Lankford Lease, comprising of 11 producing wells, is located on the Chattanooga Shale. A recent report on the Chattanooga shale reserve potential (soon to be available on our website) confirms the Company's own due diligence and its subsequent participation in the project with its partner, TMD Energy.

A five county area of Late Devonian Age Chattanooga Shale gas production exists under the Cumberland Plateau. These counties are Scott, Morgan, Fentress, Anderson, and Campbell Counties. The thickness of the Chattanooga Shale under these counties ranges from 30 feet to a known maximum of 828 feet. The natural gas in this reservoir is absorbed onto the surface of organic matter in the Chattanooga black shale. The Chattanooga Shale under the Plateau is in the peak oil phase of thermal maturity and is still generating hydrocarbons.

The Lankford Lease wells are located in Morgan County. Currently, the wells are producing from the Monteagle formation. Monteagle limestone is a Mississippian age formation that is a consistent oil and gas producing formation. Other Monteagle gas wells in the area are still producing commercial quantities of gas after 30 years. The Lankford Lease wells have been drilled to the shale formation and the Company is confident that a significant amount of gas from the formation exists on their lease. The Chattanooga Shale gas reserves under the Cumberland Plateau are substantial and horizontal drilling and re-completion of existing wells will be an important factor in developing them. The Company intends to frac at least two of the wells at the earliest opportunity to increase natural gas production and is considering additional horizontal drilling to maximize long-term gas production from the Chattanooga Shale.

Reserve estimates indicate a conservative gas in place value of 3.198 bcfg/mi.2 for the area under the Cumberland Plateau. These calculations assume a gas content of 20 scf/ton of gas in the Chattanooga Shale. Miller Petroleum, Inc. is in possession of geochemical data that justifies this as a minimal gas in place number.

Miller Petroleum, Inc., KY-TENN Oil, and Knox Energy, LLC are presently developing the natural gas resource on the Cumberland Plateau. There are numerous existing wells on the Cumberland Plateau that can be re-completed as Chattanooga Shale gas wells. The Lankford Lease wells have been drilled to the shale and Magellan believes they are excellent prospects to tap into this reserve.

According to the EIA Annual Energy Outlook 2009, U.S dependence on imported oil is expected to decline over the next 25 years -- due to high prices and limited resources; and natural gas production, led by gas shales, is expected to provide the majority of growth in gas supply. As the economy improves, we should see a marked improvement in the price of natural gas and in the overall value of the Chattanooga Shale gas reserves.

In other corporate news, the Company is currently working on updating its corporate website and will soon have it completed. In regards to the highly anticipated production numbers, they have obviously not been received in the time frame anticipated and we ask our shareholders for their continued patience as we will have an update shortly.

About Magellan Energy: Magellan Energy is a publicly traded independent oil and gas company (PINKSHEETS: MGLG). The company is actively acquiring oil and gas leases, producing properties, mineral rights, and surface interests in Tennessee and Oklahoma. Once acquired, the company intends to develop each property to maximize the income from each property byre-establishing production, refurbishing and improving the existing production and operations.

Forward-Looking Statements: The statements which are not historical facts contained in this release are forward-looking statements that involve risks and uncertainties, including but not limited to, the effect of economic conditions, the impact of competition, the results of financing efforts, changes in consumers' preferences and trends. The words "estimate," "possible," and "seeking" and similar expressions identify forward-looking statements, which speak only to the date the statement was made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, because of new information, future events, or otherwise. Future events and actual results may differ materially from those set forth herein, contemplated by, or underlying the forward-looking statements.




Oct 14, 09 Magellan Energy relisted.

May 13, 09 Magellan Energy Ltd. Announces Work Completion on the Thomas Martin Lease

May 12, 09 Magellan Energy Announces Progress on the Robert Anderson Well

Dec. 22, 08 Magellan Energy Addresses BTU Situation in Tennessee

Dec. 2, 2008 Magellan Energy Announces Shareholder Update

August 7, 2008 Magellan Energy Announces Corporate and Project Update

April 16, 2008 Magellan Energy, Ltd. -- Thomas D. Martin Waterflood Update

April 10, 2008 Magellan Energy Announces Update on Robert Anderson Lease

April 3, 2008 Magellan Energy Announces Progress on Its Second Producing Oil & Gas Well

Feb. 25, 2008 Magellan Energy Ltd. -- Tennessee Revenue and Project Update

Feb. 22, 2008 Magellan Energy: Tennessee Revenue and Project Update

Jan. 08, 2008 Magellan Energy Announces Robert Anderson Lease Agreement With TMD Energy Inc.

Dec. 18, 2007 Magellan Energy Announces Update on the Thomas D. Martin Wells

Dec. 05, 2007 Magellan Energy Announces Update on the Thomas L. Davidson Well #1

Oct. 24, 2007- Magellan Energy Announces Participation Agreement with TMD Energy Inc.

Sept. 27, 2007 Magellan Energy Announces Oil Production

Sept. 24, 2007- Magellan Energy Announces Update on Thomas L. Davidson Well#1

Sept. 11, 2007- Magellan Energy Announces Participation Agreement

July 18, 2007- Magellan Energy Ltd. Announces Update on Oklahoma Projects

June 19, 2007- Magellan Energy Ltd. Completes Logging Reports

May 14, 2007-Magellan Energy Ltd. Announces Update on Pemberton Well # 14

May 7,2007- Magellan Energy Ltd. Announces Completion of Seismic Field Operations

April 30, 2007- Magellan Energy Ltd. Announces Permit From the State of Tennessee

April 27, 2007 - Magellan Energy Ltd. Ventures Into the Trenton-Black River Formation

April 26, 2007-Magellan Energy Ltd. Announces Progress Report on Martens 1-13

April 23, 2007:Magellan Energy Announces Participation in the Ostil Paul Property

March 13, 2007 - Magellan Energy Announces LOI for Acquisition of $50 Million Oklahoma Properties

February 22, 2007 - Magellan Energy Ltd. Announces Activation for Ten Well Recompletion Program in Oklahoma

February 06, 2007 - Magellan Energy Ltd. Announces Corporate Update


 Company Information:

  • Share structure

    here are the dates that we knew the os and the changes
    SS now:

    # Authorized: 30,000,000,000
    I/O: 19,064,552,485
    Restricted: 11,011,854,788
    float 8,052,697,697

    SS around 4th of June.....

    Authorized Shares: 30.0B
    O/S Shares: 17.19B
    Float: 6.18B
    Restricted: 11.01B
    Market Cap: $6.87M

    SS may 19th
    Outstanding Shares
    7,804,084,651 as of May 19, 2009
    Authorized Shares
    30,000,000,000 as of May 19, 2009
    2,792,229,863 as of May 19, 2009

    Energy Report:
    Bloombergy Energy:

    DISCLAIMER: The Magellan Board Forum

    The Board Monitor and The Board Assistants herewith, are not licensed brokers and assume NO responsibility for the actions, investment decisions, or messages posted on this forum.
    ~ Any trade entered into risks the possibility of losing the funds invested.
    ~ There are no guarantees when buying or selling any security.

  • Phone: 866-365-4724
  • Fax: 905-891-6800
  • E-mail:

    92 Lakeshore Road East Suite 220
    Mississauga ON L5G 4S2

    Telephone: 905-891-1515


The Thomas L. Davidson Project

Thomas L. Davidson well #1 is located in the Burrville Oil/Gas Field in Morgan County, Tennessee. A participation agreement with Ky-Tenn Oil Inc., is in place. The well is currently producing, and production is expected to ramp up considerably after the company completes a work-over procedure to increase production. The well is estimated to have 100,000+ barrels of oil in reserve. Magellan recently acidized the well under extreme pressure to flush it out in order to increase production. The well was then capped or closed off and re-opened for production the next day. Magellan expects that this will increase production by 20+ barrels/day before eventually settling back down.

*The penberton property

* The Ostil Paul Property

The Ostil Paul Property is located in Overton County, Tennesse. Specifically Miller Chapel / Bolestown area of Overton County, Tennessee. The area lies approximately 15 miles east of Livingston Tennessee along State Highway 52. The Ostil Paul Property lies North of the highway off Joppa Rd to the west of Miller Chapel. Basin Oil has recently discovered an oil accumulation that is both prolific in its production and unusual in its structure. Two of these wells on the Paul Property have produced over 150 BOPD since their discovery last fall. The Kelly Paul Property is less than ¾ of mile to the north.

The Martin Waterflood Project

The Martin Waterflood project is located about 50 miles northwest of Knoxville, and less than 20 miles from the Tennessee-Kentucky border in Morgan County, Tennessee. The number of wells and the way those wells will be utilized will be determined by a onsulting petroleum engineering firm, that will base its recommendations, in part, on geology of the area and field production records, provided by the company. Initial estimates of recoverable oil in place are in excess of 100,000 barrels of oil, with a current value of
more than $6.5 million.

The Martin field is currently in the final stages of primary production, producing a small amount of oil and gas from eight wells. Those initially targeted include: Thomas D. Martin #7 - Permit # 7316, Thomas D. Martin #4 - Permit #7329, Thomas D. Martin #11 - Permit #7651, Thomas D. Martin #12 - Permit #8169, Thomas D. Martin #14 - Permit # 8223 and Thomas D. Martin #15 - Permit #8224.

TMD Energy expects to have the project completed and in operation by late 2008 or early 2009 depending upon several factors, including the approval process, weather and availability of equipment.


July 22, 09 Magellan Energy Ltd. Issues Additional Information on the Potential for the Lankford Lease

June 18, 09 Magellan Energy Announces Acquisition of Lankford Lease in Morgan County, Tennessee

June 01, 09 Magellan Energy Magellan Energy Announces Natural Gas Production in Morgan County, Tennessee


May 19, 09 Magellan Energy Issues Corporate Update

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Current Price
Bid Ask Day's Range
#41242   I wish I was the one to buy symdn 10/13/16 03:31:53 PM
#41241   I am keeping the hopes up symdn 10/13/16 03:31:16 PM
#41240   WOW JUST TRADED 5000000 TODAY gmail1 10/13/16 01:00:04 PM
#41239   I know. It's out of business. Mobiaus 10/05/16 01:13:17 PM
#41238   No body knows it still alive or what colorfullife88200 09/27/16 03:26:51 PM
#41237   Seeing some oil pop upward. When mglg gmail1 08/24/16 06:26:47 PM
#41236   I doubt it. They probably capped all the trackkwizzard 08/21/16 05:52:31 PM
#41235   news this week gmail1 08/21/16 05:33:38 PM
#41234   I said that before but I will say symdn 08/20/16 11:39:44 PM
#41232   WE BEEN HOLDING FOR EVER. I WISH NEWS gmail1 08/20/16 11:03:30 PM
#41231   Any idea when the news will be out Oilfeildmoney 08/20/16 09:42:31 PM
#41230   Patience, it will eventually pay off!! symdn 08/18/16 07:16:42 PM
#41229   WHEN WILL THIS STOCK COME BACK. I HOPE gmail1 08/18/16 05:26:58 PM
#41228   Thanks for the reply vegasdrummer 08/17/16 03:24:02 PM
#41227   Agreed! symdn 08/17/16 12:48:05 AM
#41226   I feel news out soon. Good news why gmail1 08/16/16 11:45:35 PM
#41225   I am with you guys!! Can't wait to artdo63 08/16/16 03:50:13 PM
#41224   Yes, I agree. trackkwizzard 08/16/16 03:21:50 PM
#41223   IMO Big news coming!! Keep up the hopes!! symdn 08/16/16 02:23:00 PM
#41222   vegasdrummer, MGLG is on the grey market. EOM flaflyersfan 08/16/16 11:07:20 AM
#41221   I would sure love to see some news artdo63 08/16/16 10:02:29 AM
#41220   WOW 2 DAYS IN A ROW. IT'S GOT gmail1 08/15/16 05:12:53 PM
#41219   not me brother. I'll take 0001 for my vegasdrummer 08/15/16 02:39:48 PM
#41218   Any one know why there is no L2 vegasdrummer 08/15/16 02:38:15 PM
#41217   I am not sure many remember there is artdo63 08/15/16 02:27:53 PM
#41216   In the old co or the shell? vegasdrummer 08/15/16 02:18:43 PM
#41215   There is renewed interest in MGLG. Could it artdo63 08/15/16 02:17:32 PM
#41214   I still can't sell any of mime vegasdrummer 08/15/16 01:34:19 PM
#41213   Thanks Gmail1!!! Lets keep positive!! symdn 08/15/16 08:41:49 AM
#41212   PUMP THIS WEEK WE STRIVE UPWARD. IF NOT gmail1 08/14/16 08:20:26 PM
#41211   POSITIVE I SEE A REVERSAL COMMING WITH A gmail1 08/14/16 07:54:53 PM
#41210   your wrong couple months ago we saw .001 gmail1 08/14/16 07:49:05 PM
#41209   MGLG will never see anything above .0001. EOM flaflyersfan 08/14/16 06:02:54 PM
#41208   yeah I'm holding a huge bunch of shares peasant 08/14/16 05:21:48 PM
#41207   I FEEL WE'RE CLOSE TO REVIVAL. WONDER WHY gmail1 08/14/16 03:17:14 PM
#41206   HOPEFULLY SOON THIS STOCK TAKES OFF. WHY ELSE gmail1 08/14/16 03:04:33 PM
#41205   I am with you on waiting, this is symdn 08/13/16 10:01:12 PM
#41204   Not yet. IMO looking for .50 to 1.00 sony12 08/13/16 09:33:32 PM
#41203   nice you selling gmail1 08/13/16 09:29:10 PM
#41202   6 million sony12 08/13/16 09:28:12 PM
#41201   how much you buy gmail1 08/13/16 09:24:44 PM
#41200   Ya I snapped up idng for .0002 now sony12 08/13/16 09:04:51 PM
#41199   people say it doesn't happen look at mpet gmail1 08/13/16 08:55:15 PM
#41198   I WOULD SAY SO sony12 08/13/16 08:50:12 PM
#41197   sony12 if you had to give a pps gmail1 08/13/16 08:41:37 PM
#41196   YOU NOT THE ONLY ONE !! HOLDING 15 MIL. sony12 08/13/16 08:29:41 PM
#41195   Its been a while. Lost a lot money gmail1 08/13/16 08:27:23 PM
#41194   I have a feeling only one buying would gmail1 08/13/16 02:49:49 PM
#41193   I agree with you and I think its symdn 08/13/16 11:47:08 AM
#41192   I have sold a few shares on the rwdutch 08/13/16 11:37:16 AM