Magellan Energy, Ltd. (MGLG)

[space1230]

Irrelevant. The leases have nothing to do with this carcass of a shell.

PS, the ONLY reason why MGLG trades (with next to no liquidity) is the simple fact that it was never an sec filer. The sec cannot revoke shares of non-filers. The grey sheets (after suspension) is the equivalent of "revoked" for non filers. ie: the fact that MGLG shareholders are here some 8 years later holding the same shares that they started with.

Dead as a doornail FOREVER

Someone signed land leases with land owners in Morgan County. Someone draws oil and Natural gas from those land owners land and the land owners get
royalty checks.

The world does not stop turning when a company moves from pink to grey and as I have already shown, companies move from grey back to pink.

This company still trades. It is not suspended by the SEC.