Magellan Energy, Ltd. (MGLG)

[AngelHillCorp]

** Billionaires Alex Shnaider & Eduard Shifrin **
principal founders of Midland Resources Holdings Ltd.,
have joined Magellan Energy as members of the Board of Directors

Bill Akrivos became the next CEO of MGLG in 2006 ....

Midland Resources ~ http://en.wikipedia.org/wiki/Midland_Group

Magellan Energy Ltd. Announces Appointments to Board of Directors
http://findarticles.com/p/articles/mi_pwwi/is_200604/ai_n16121714?tag=content;col1

Market Wire, April, 2006

Magellan Energy Ltd. announced today that as a part of its private placement, Midland Resources Holding Ltd. has become one of its principal investors. Furthermore; as a part of Magellan's continuous improvements in its corporate governance processes, Mr. Alex Shnaider & Mr. Eduard Shifrin, principal founders of Midland Resources Holdings Ltd., have joined Magellan Energy Ltd. as members of the Board of Directors.

Magellan Energy Ltd. Announces Update on Pemberton Well # 14 Michael Shtaif, President & CEO stated, "I am extremely pleased and honored that such successful, distinguished and recognized international businessmen have joined the Company. Both Mr. Alex Shnaider & Mr. Eduard Shifrin will bring to the Company extensive expertise in international business, which will expedite Magellan's goals to implement transparency and efficiency in its reporting and operating procedures." He added, "Magellan intends to fully utilize Midland's experience and create a corporate culture that will enhance overall shareholder value."

About Magellan Energy Ltd.

Magellan Energy Ltd intends to become a company specializing in the extraction and production of oil and gas. The company's vision is to establish and enhance the company's foundation for future growth by purchasing and developing properties that provide a balance between short and long-term reserves in both the oil and natural gas markets. The company is a technology driven company and is focused on the development, acquisition, stimulation, rehabilitation, and asset improvement of small- to medium-sized oil and gas properties. The combination of energy fuel reserves and advanced yield technologies are anticipated to generate value for Magellan and its stakeholders as the company targets above average growth in the energy sector. Oil and gas related activities will include acquiring additional properties with potential for increased production in addition to further development and drilling. The company will work to establish and maintain a significant inventory of undeveloped prospects. The company emphasis is on production, cash flow and reserve value by exploring for, developing, and purchasing oil and gas properties worldwide.