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Magellan Energy, Ltd. (MGLG)

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Last Post: 9/24/2020 12:07:24 PM - Followers: 257 - 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

MGLG
Current Price
Volume:
Bid Ask Day's Range
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PostSubject
#41750   I am just happy to see some kind artdo63 09/24/20 12:07:24 PM
#41749   Sure, but will still take time. trackkwizzard 09/24/20 11:21:49 AM
#41748   They are now a part of the "expert Mobiaus 09/23/20 09:00:10 PM
#41747   https://www.otcmarkets.com/stock/MGLG/overview Mobiaus 09/23/20 08:53:39 PM
#41746   Has how MGLG is classified changed? Says Pink artdo63 09/23/20 01:08:44 PM
#41745   Indeed, unusual activity. Not sure why. With 7 totffe 09/23/20 10:47:26 AM
#41744   Hopefully our patience will be rewarded. Been with artdo63 09/23/20 10:39:01 AM
#41743   Something's happening!!! I see positive and unusual piecesofeight 09/23/20 10:31:02 AM
#41742   Hey Track, could it actually be happening? artdo63 09/23/20 08:02:57 AM
#41741   This stock has been doing that for several MasterT 09/22/20 09:02:00 AM
#41740   Today’s SP is different from the norm , rwdutch 09/21/20 01:13:42 PM
#41739   Thx for the info will keep it on 1jk1 09/15/20 10:40:41 AM
#41738   A new guy to take over it colorfullife88200 09/11/20 12:42:42 PM
#41737   E*TRADE shows 7.8 B. Shares . Newco should rwdutch 09/10/20 02:22:34 PM
#41736   Wow. I had no idea it had that StockWatcher 09/04/20 03:21:32 PM
#41735   Thank you for posting. I believe the trackkwizzard 09/03/20 12:02:26 PM
#41734   You have to go to Delaware State Entity StockWatcher 08/27/20 01:57:54 PM
#41733   StockWatcher: can you direct me to where you ctriceman 08/26/20 08:31:45 AM
#41732   Etrade says there are still 7.8 billion? FUNYMUNY 08/25/20 09:14:22 PM
#41731   If we see MGLG do the same trading StockWatcher 08/25/20 07:07:13 AM
#41730   Wow, you are correct. I had forgotten about StockWatcher 08/25/20 06:35:14 AM
#41729   Thx StockWatcher. I was also here years ago ctriceman 08/25/20 05:33:26 AM
#41728   If I recall correctly, mglg was also dealing Mfinvest 08/24/20 06:13:07 PM
#41727   This stock hit my scanners and I started StockWatcher 08/24/20 03:48:32 PM
#41726   Wheeee doggies! Keep pumpin Jethro! Gonna piecesofeight 08/05/20 11:01:00 AM
#41725   Massive accumulation before the Exxon buy out :) totffe 08/03/20 06:25:12 PM
#41724   What's all the volume been about lately? piecesofeight 08/03/20 03:22:29 PM
#41723   Jethro Bodine of the Beverly Hillbillies. Uncle piecesofeight 06/21/20 04:33:33 PM
#41722   We can buy houses on the same street tykerules 06/19/20 11:03:16 AM
#41721   Who's Jethro? Thanks!!! Termite7 06/18/20 08:51:15 PM
#41720   Keep pumping Jethro! There's folks waitin on piecesofeight 06/18/20 06:24:01 PM
#41719   GREAT volume today!!! Termite7 06/16/20 09:34:32 PM
#41718   Energy stocks are soaring today. Get that piecesofeight 06/08/20 10:05:52 AM
#41717   I love MGLG - no worries ever! piecesofeight 06/05/20 02:39:33 PM
#41716   Is that a request.....??? Termite7 05/21/20 09:16:04 PM
#41715   Anything good happening on your end? artdo63 05/20/20 12:28:19 PM
#41714   Yes, have wanted to contact you some how. artdo63 05/14/20 09:19:38 AM
#41713   Hey mind reader! I've been thinking about you trackkwizzard 05/14/20 08:55:59 AM
#41712   Hey track! How ya holding up? MGLG still artdo63 05/12/20 04:52:54 PM
#41711   Whooooa! 150 volume today!!! Was there piecesofeight 05/06/20 03:16:16 PM
#41710   MGLG .. I’ve got shares available at a rwdutch 04/30/20 11:19:15 AM
#41709   you think this would be a great time gmail1 04/26/20 05:30:17 PM
#41708   At least we know MGLG will always be cornhole 04/26/20 01:47:55 PM
#41707   30b a/s cornhole 04/26/20 01:41:59 PM
#41706   I Agree!!! jem1 03/31/20 10:23:02 AM
#41705   SOMEONE BUY THIS COMPANY!! sony12 03/01/20 09:47:19 AM
#41704   Aye senor, Modelo no stand for Corona ? AhoohA 02/06/20 11:59:50 AM
#41703   No senior, trying to recoup for the Modelovirus tykerules 02/05/20 01:45:45 PM
#41702   No cinco de mayo yet ? AhoohA 02/05/20 11:38:27 AM
#41701   Dios de los muertes dance senior!!!! tykerules 02/04/20 05:24:06 PM
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