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Magellan Energy, Ltd. (MGLG)

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Last Post: 10/22/2014 12:35:31 PM - Followers: 262 - Board type: Free - Posts Today: 0


http://magellan-energy.com
 

WARNING: Stock is listed as "Caveat Emptor" on Pinksheets.com!

http://www.pinksheets.com/pink/quote/quote.jsp?symbol=mglg


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.

http://www.dtcc.com/downloads/legal/imp_notices/2009/nscc/a6888.pdf

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

http://finance.yahoo.com/news/Magellan-Energy-Ltd-Announces-iw-15228383.html

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

http://finance.yahoo.com/news/Magellan-Energy-Announces-iw-15214955.html

Dec. 22, 08 Magellan Energy Addresses BTU Situation in Tennessee
http://finance.yahoo.com/news/Magellan-Energy-Addresses-BTU-iw-13892402.html

Dec. 2, 2008 Magellan Energy Announces Shareholder Update
http://finance.yahoo.com/news/Magellan-Energy-Announces-iw-13718306.html

August 7, 2008 Magellan Energy Announces Corporate and Project Update
http://biz.yahoo.com/iw/080807/0422964.html

April 16, 2008 Magellan Energy, Ltd. -- Thomas D. Martin Waterflood Update
http://biz.yahoo.com/iw/080416/0387338.html

April 10, 2008 Magellan Energy Announces Update on Robert Anderson Lease
http://biz.yahoo.com/iw/080410/0385520.html

April 3, 2008 Magellan Energy Announces Progress on Its Second Producing Oil & Gas Well
http://biz.yahoo.com/iw/080403/0383352.html

Feb. 25, 2008 Magellan Energy Ltd. -- Tennessee Revenue and Project Update
http://biz.yahoo.com/iw/080225/0366145.html

Feb. 22, 2008 Magellan Energy: Tennessee Revenue and Project Update
http://biz.yahoo.com/iw/080222/0365844.html

Jan. 08, 2008 Magellan Energy Announces Robert Anderson Lease Agreement With TMD Energy Inc.
http://biz.yahoo.com/iw/080108/0345926.html

Dec. 18, 2007 Magellan Energy Announces Update on the Thomas D. Martin Wells
http://biz.yahoo.com/iw/071218/0341238.html

Dec. 05, 2007 Magellan Energy Announces Update on the Thomas L. Davidson Well #1
http://www.marketwire.com/mw/release.do?id=799737&k=mglg

Oct. 24, 2007- Magellan Energy Announces Participation Agreement with TMD Energy Inc.
http://www.marketwire.com/mw/release.do?id=784354&k=mglg

Sept. 27, 2007 Magellan Energy Announces Oil Production
http://www.marketwire.com/mw/release.do?id=774291&k=mglg


Sept. 24, 2007- Magellan Energy Announces Update on Thomas L. Davidson Well#1
http://www.marketwire.com/mw/release.do?id=773331&k=mglg

Sept. 11, 2007- Magellan Energy Announces Participation Agreement
http://www.marketwire.com/mw/release.do?id=768458&k=mglg

July 18, 2007- Magellan Energy Ltd. Announces Update on Oklahoma Projects
http://www.marketwire.com/2.0/release.do?id=752323&k=mglg

June 19, 2007- Magellan Energy Ltd. Completes Logging Reports
http://www.marketwire.com/2.0/release.do?id=743647&k=mglg

May 14, 2007-Magellan Energy Ltd. Announces Update on Pemberton Well # 14
http://www.marketwire.com/mw/release.do?id=729119&k=mglg

May 7,2007- Magellan Energy Ltd. Announces Completion of Seismic Field Operations
http://www.marketwire.com/mw/release.do?id=731946&k=mglg

April 30, 2007- Magellan Energy Ltd. Announces Permit From the State of Tennessee
http://www.marketwire.com/mw/release.do?id=724292&k=mglg

April 27, 2007 - Magellan Energy Ltd. Ventures Into the Trenton-Black River Formation
http://www.marketwire.com/mw/release.do?id=722587&k=mglg

April 26, 2007-Magellan Energy Ltd. Announces Progress Report on Martens 1-13
http://www.marketwire.com/mw/release.do?id=721105&k=mglg

April 23, 2007:Magellan Energy Announces Participation in the Ostil Paul Property
http://www.marketwire.com/mw/release.do?id=732251&k=mglg

March 13, 2007 - Magellan Energy Announces LOI for Acquisition of $50 Million Oklahoma Properties
http://www.marketwire.com/mw/release.do?id=722992&k=mglg

February 22, 2007 - Magellan Energy Ltd. Announces Activation for Ten Well Recompletion Program in Oklahoma
http://www.marketwire.com/mw/release.do?id=722005&k=mglg

February 06, 2007 - Magellan Energy Ltd. Announces Corporate Update
http://www.marketwire.com/mw/release.do?id=713905&k=mglg

 

 Company Information:

http://www.pinksheets.com/pink/quote/quote.jsp?symbol=MGLG#getCompanyInfo

  • 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
    Float
    2,792,229,863 as of May 19, 2009




    Links:
    Energy Report:
    http://energy-investing.org/
    Bloombergy Energy: http://www.bloomberg.com/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: info@magellan-energy.com
  • GLOBAL SENTRY EQUITY TRANSFER AGENCY INC.
    http://www.gsetransfer.com/gset/

    92 Lakeshore Road East Suite 220
    Mississauga ON L5G 4S2

    Telephone: 905-891-1515
     

PROJECTS:

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

http://www.magellan-energy.com/mg/prenbertonproperty.asp

* 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

http://finance.yahoo.com/news/Magellan-Energy-Ltd-Issues-iw-3820446943.html?x=0&.v=1

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

http://finance.yahoo.com/news/Magellan-Energy-Announces-iw-1406258718.html?x=0&.v=3

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

http://finance.yahoo.com/news/Magellan-Energy-Announces-iw-3649917050.html?x=0&.v=1

 

May 19, 09 Magellan Energy Issues Corporate Update

http://finance.yahoo.com/news/Magellen-Energy-Issues-iw-3027636243.html?x=0&.v=1

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MGLG
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PostSubject
#39449  Sticky Note MGLG SEC SUSPENDED in 09. 19+ billion o/s space1230 09/26/13 10:39:34 PM
#40503   what else can anyone do with the shares? space1230 10/22/14 12:35:31 PM
#40502   Hold them shares. Something will come to light trackkwizzard 10/21/14 04:55:16 AM
#40501   lode..good luck to u.. acc724 10/20/14 04:20:38 PM
#40500   Thank you both, doing ok, just tired from LODE MAKING ME RICH 10/20/14 03:33:37 PM
#40499   Back here on earth the MGLG tombstone was space1230 10/20/14 11:18:27 AM
#40498   Nothing is impossible. We never thought we would artdo63 10/20/14 10:54:13 AM
#40497   All the Best Lode!! Wishing you a return artdo63 10/20/14 10:52:22 AM
#40496   Lode- My sincere prayers for you. I also piecesofeight 10/19/14 09:41:10 PM
#40495   I am tired, bone tired. Doing dialysis LODE MAKING ME RICH 10/19/14 01:28:02 PM
#40494   Is the "kitty" the MGLG "black hole" where space1230 10/17/14 03:06:50 PM
#40493   $35.00 added to the kitty. I wonder who. S32309 10/16/14 02:19:28 PM
#40492   BOOM!!! volume Grand2000 10/16/14 12:12:25 PM
#40491   Possibility is 0% of MGLG ever being purchased space1230 10/15/14 04:38:20 PM
#40490   Well the market is at good time buy S32309 10/15/14 04:24:50 PM
#40489   Oh it is 100% NEVER. There is nothing artdo63 10/15/14 03:12:57 PM
#40488   But it is possible spaceman. You yourself artdo63 10/15/14 02:49:18 PM
#40487   NOPE. The MGLG defunct shell can NEVER be space1230 10/13/14 02:39:31 PM
#40486   All they have to do is find an trackkwizzard 10/13/14 02:17:20 PM
#40485   Doesn't matter. The website for a "company" has space1230 10/13/14 02:14:28 PM
#40484   Well there must be a possibility of progress, trackkwizzard 10/13/14 02:11:51 PM
#40483   The courts do not pertain to the hijacking space1230 10/13/14 01:29:49 PM
#40482   does the SEC rank higher than the judicial Grand2000 10/13/14 01:23:20 PM
#40479   The judge of what? The judge of the space1230 10/12/14 12:20:34 PM
#40478   ummmmmmmm I'm more interested in what trackkwizzard 10/12/14 01:16:29 AM
#40477   MGLG was over in 2009. It is dead space1230 10/12/14 01:12:07 AM
#40476   I have explained this numerous times. MGLG is space1230 10/12/14 01:10:34 AM
#40475   No, it's NOT over. trackkwizzard 10/12/14 01:09:28 AM
#40474   No way! MGLG is a dead shell FOREVER space1230 10/12/14 01:07:09 AM
#40471   Just checking on things on the week end. S32309 09/27/14 01:34:11 PM
#40470   Got no choice but to be long with artdo63 09/25/14 07:20:51 AM
#40469   YEP ITS STILL LISTED!!! LONG!!! sony12 09/24/14 08:47:01 PM
#40468   Does not matter. NO ONE can EVER do space1230 09/24/14 05:27:46 PM
#40467   The sec already said NEVER to MGLG 5 space1230 09/24/14 05:26:37 PM
#40466   I agree on both ends, yes this stock tykerules 09/24/14 04:55:04 PM
#40465   It does mean that someone in that company artdo63 09/24/14 03:29:33 PM
#40464   Long and Strong!! Go MGLG! artdo63 09/24/14 03:20:03 PM
#40463   I think i will continue to hold.And add mwab52 09/23/14 03:00:49 PM
#40462   lol. Go for it! There's an UNLIMITED SUPPLY space1230 09/22/14 11:40:55 PM
#40461   LETS GET IT ON!!!! sony12 09/22/14 10:02:14 PM
#40460   That reminds me, I need to pick up trackkwizzard 09/22/14 06:53:07 PM
#40459   The website is meaningless. Magellan Energy CANNOT legally space1230 09/22/14 06:26:42 PM
#40458   Come on MGLG!! Make a move!! artdo63 09/18/14 07:27:27 AM
#40457   Artdo, I definitely believe there is something of piecesofeight 09/12/14 04:29:43 PM
#40456   Hopefully that means they are waiting for the artdo63 09/10/14 11:32:06 AM
#40455   I saw that too! Hopefully a positive sign. artdo63 09/10/14 11:30:39 AM
#40454   mglg..im holding and waiting..soonnn acc724 09/09/14 11:33:30 AM
#40453   LONG LIVE MGLG!!!! sony12 09/08/14 09:17:15 PM
#40452   MGLS is a grey sheet abandoned shell with space1230 09/08/14 01:09:38 PM
#40451   MGLG still has life not only is it Grand2000 09/08/14 09:03:39 AM
#40449   September is my favorite month of the year. trackkwizzard 09/07/14 12:16:37 AM
PostSubject