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Magellan Energy, Ltd. (MGLG)

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Last Post: 11/29/2015 1:27:22 PM - Followers: 261 - Board type: Free - Posts Today: 0

WARNING: Stock is listed as "Caveat Emptor" on!

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
#40741  Sticky Note The ONLY reason why MGLG can "trade" (if space1230 09/03/15 12:21:42 AM
#40803   I know, but unfortunately there will be no space1230 11/23/15 03:53:48 PM
#40802   Gonna have to wait until oil and nat trackkwizzard 11/23/15 03:04:51 PM
#40801   This is like expecting a new born called symdn 11/23/15 11:43:05 AM
#40800   Yes, I think so. You can see my artdo63 11/18/15 01:00:20 PM
#40799   Somebody bought five million shares are they nuts vegasdrummer 11/18/15 12:53:15 PM
#40797   That's like having an Aunt Magellan who died space1230 11/17/15 04:39:04 PM
#40796   I wish this thing would magically come to life!! artdo63 11/12/15 09:15:28 AM
#40795   They didn't just poke they spent some money artdo63 11/11/15 03:02:18 PM
#40794   Today, it's alive rwdutch 11/11/15 01:43:51 PM
#40793   Someone just poked MGLG! piecesofeight 11/11/15 12:49:49 PM
#40792   Someone must be erasing the trades too because Mobiaus 10/29/15 06:26:41 PM
#40791   I love Magellan. trackkwizzard 10/29/15 02:49:49 PM
#40788   Arise MGLG...arise!! artdo63 10/28/15 10:03:45 AM
#40787   Even if someone gets 20 million MGLG shares space1230 10/18/15 07:47:11 PM
#40786   I still believe anything is possible . I artdo63 10/18/15 01:24:28 PM
#40785   Man I wish. I have 20 million Arky49 10/18/15 11:12:16 AM
#40784   HOLDING!! sony12 10/18/15 10:42:41 AM
#40783   HOLDING trackkwizzard 10/18/15 02:25:52 AM
#40782   It's a grey sheet stock. An occasional profitless space1230 10/18/15 01:39:24 AM
#40781   Unfortunately, that was the END (not start) of space1230 10/18/15 01:33:14 AM
#40780   I have no idea but that was a artdo63 10/15/15 08:00:54 AM
#40779   GO MGLG!!! STILL HOLDING kwp87 10/15/15 06:40:38 AM
#40778   Can anyone give us some insight as to mdres2005 10/14/15 04:18:32 PM
#40777   Maybe not updated yet. Same deal with my ICOA. trackkwizzard 10/13/15 04:56:59 PM
#40776   Click the trades tab on IHUB for MGLG. artdo63 10/13/15 04:19:16 PM
#40775   Me too! All 12 million of them!! ?? artdo63 10/13/15 03:42:42 PM
#40774   That was the start of something BEAUTIFUL. trackkwizzard 10/13/15 03:41:32 PM
#40773   Ok alerted the remaining Gang! I got excited! artdo63 10/13/15 03:10:07 PM
#40772   What was that? ????wow! artdo63 10/13/15 03:08:51 PM
#40771   What was that? ????wow! artdo63 10/13/15 03:08:13 PM
#40770   What was that? ????wow! artdo63 10/13/15 03:07:23 PM
#40769   What was that? ????wow! artdo63 10/13/15 03:06:58 PM
#40768   What was that? ????wow! artdo63 10/13/15 03:06:16 PM
#40767   What was that? ????wow! artdo63 10/13/15 03:05:39 PM
#40766   Wowa! ! What was that???? artdo63 10/13/15 03:01:50 PM
#40765   MGLG!!!! sony12 10/08/15 09:11:05 PM
#40764   Ha ha!! Could be. He has been loyal artdo63 10/08/15 03:21:09 PM
#40763   Maybe the Spaceman is calling his broker for piecesofeight 10/08/15 12:39:53 PM
#40762   Yes!! I keep hoping the owners of record artdo63 10/08/15 12:28:40 PM
#40761   who knows, but it did just show one tykerules 10/08/15 12:08:15 PM
#40760   Someone testing the waters? artdo63 10/08/15 11:43:10 AM
#40759   Its' alive!!! frankenstein alive though tykerules 10/08/15 11:36:35 AM
#40758   Oh to one day return!! Go MGLG!!! artdo63 10/07/15 01:07:41 PM
#40756   This suit was against the people who originally Arky49 10/05/15 07:17:56 PM
#40755   Yes, looks like the same. trackkwizzard 10/05/15 03:12:45 AM
#40754   anyone know if this is the same case goodbadugly 10/04/15 11:56:00 PM
#40753   To end your misery you need to research Arky49 10/01/15 08:04:15 PM
#40752   No, not shareholders sseedragon 09/28/15 02:30:47 PM
#40751   It has already been done. Arky49 09/26/15 11:12:33 AM
#40750   If so, how about shareholders going after the sseedragon 09/21/15 02:07:52 PM