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Magellan Energy, Ltd. (MGLG)

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Last Post: 7/17/2021 2:25:55 AM - Followers: 284 - Board type: Free - Posts Today: 0


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


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: 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

    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


Current Price
Bid Ask Day's Range
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#42299   No/Yes, dear Watson =) AhoohA 07/17/21 02:25:55 AM
#42298   Sherlock Holmes? Bob Mullet 07/16/21 06:13:27 PM
#42297   this one looks dead sudhakar 07/15/21 12:40:02 PM
#42296   Anyone know anything new? sony12 07/07/21 04:51:27 PM
#42295   I agree! Oil is booming. MGLG was in SpankThePolitic 07/07/21 03:01:44 PM
#42294   Joke of the day ???????????????? Bob Mullet 07/06/21 11:03:54 PM
#42293   We can keep hope and this starts back sony12 07/06/21 06:59:06 PM
#42292   Been holding too long not to hold! :) artdo63 07/05/21 10:48:51 PM
#42291   All this past volume and rising oil prices trackkwizzard 07/05/21 08:14:29 PM
#42290   I had 15.9 million shares. I was Mobiaus 06/29/21 09:13:17 PM
#42289   Haha, then why have you been lurking here totffe 06/29/21 03:30:59 PM
#42288   TOOO THA MOOOOONN Bob Mullet 06/21/21 02:11:45 AM
#42287   Hell ya, this is good news! If someone tykerules 06/20/21 11:46:57 AM
#42284   Wow your a shit pile on every board? Manspider 06/19/21 05:56:16 PM
#42283   The stock is dead. Every few years Mobiaus 06/16/21 12:18:57 PM
#42282   See...I knew you were a pump and dump SpankThePolitic 06/14/21 08:15:20 AM
#42281   13... 1 of my favourite numbers !!! AhoohA 06/11/21 10:07:06 AM
#42280   Back down to no volume artdo63 06/10/21 03:09:59 PM
#42279   Nothing yet. Anyone? symdn 06/09/21 02:53:48 PM
#42278   This one dead for long time , never colorfullife88200 06/02/21 10:09:05 AM
#42277   Any updates? Anyone?! symdn 06/02/21 01:27:22 AM
#42276   More volume. Hope we see some filings one day sony12 05/20/21 06:33:00 PM
#42275   Time to bust a move !!! sony12 05/16/21 08:22:33 PM
#42274   Wished they would file paperwork!! sony12 05/14/21 07:35:22 AM
#42273   Unbelievable. 80 million. Why is this trading? Hope artdo63 05/13/21 02:51:34 PM
#42272   On pace for 100 milly day? Vol: 80.94M peasant 05/13/21 02:49:51 PM
#42271   A large block is easily bought by a SpankThePolitic 05/11/21 10:53:42 AM
#42270   Sorry. I meant trip 1. SpankThePolitic 05/11/21 10:31:52 AM
#42269   haha....1 cent? I don't think so. More like totffe 05/11/21 10:31:04 AM
#42268   Some trades are 5M and most are under SpankThePolitic 05/10/21 10:32:10 PM
#42267   I think probably it will happen here. Vol. peasant 05/10/21 08:43:53 PM
#42266   Ideally, someone decides to take over here. Been WalkInClouds 05/10/21 08:29:09 PM
#42265   Almost 115 million today. Something is up but what sony12 05/10/21 04:48:01 PM
#42264   Vol. is twilight zone stuff today- Vol: 102.91M peasant 05/10/21 02:19:20 PM
#42263   I find that interesting-no fill for 2 wks peasant 05/10/21 02:16:31 PM
#42262   What’s up today sony12 05/10/21 01:26:42 PM
#42261   I’ve had a bid in for trip 1’s WalkInClouds 05/10/21 12:54:18 PM
#42260   Last: 0.0002 Chg ($): 0.00 Vol: 87.54M Serious buying peasant 05/10/21 09:36:43 AM
#42259   That’s right I would not sell and like sony12 05/09/21 05:26:39 PM
#42258   LOL....you say they are buys but you would totffe 05/09/21 03:33:18 PM
#42257   What happens May 25th? artdo63 05/06/21 09:21:31 AM
#42256   Nobody’s selling this crap. I would just write sony12 05/06/21 06:02:27 AM
#42255   It's possible people are simply selling to get SpankThePolitic 05/06/21 03:12:43 AM
#42254   BOOM sony12 05/05/21 11:48:22 PM
#42253   After ( not selling @ ) 0,0008 high AhoohA 05/05/21 09:01:13 PM
#42252   Not sure wish I knew sony12 05/05/21 02:35:22 PM
#42251   All we need is news! sony12 05/05/21 02:29:58 PM
#42250   Serious volume. Some news got pop some day! artdo63 05/05/21 01:38:09 PM
#42249   Who?? Is buying all this . rwdutch 05/05/21 12:13:53 PM
#42248   WOW sony12 05/05/21 10:33:53 AM
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