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Should be a class action already. They purchased Scottrade years a go and massive MGLG shorts came along with it. I think they are taking our shares to cover themselves and friends as MAJOR margin calls are coming throughout this market.
Hedges funds will and are going bankrupt and some banks as well.
$$$$$MGLG$$$$$$
I know what you say is true
Yet 30 business days(?) by those that only protects their profits in the middle of holiday season smells a little stinky to me
Can anyone honestly say they have full faith and confidence in the brokerage they use ?
CAN ANYONE SEE A CLASS ACTION LAW SUIT IF IT GOES THE WRONG WAY
From TD. They are writing off the security:
MGLG: Magellan Energy Ltd was removed from your account as a worthless security on 11/01/2022.
You can view this in your online account in the Transactions history under My Account > History & Statements > by this date; and also by going under My Account > Cost Basis > and looking on the Realized Gain/Loss page by MGLG.
And, this will also be detailed on your November 2022 statement when it's issued after the end of the month in the Account Activity section by this date.
Hey rich, I called today and went through the "may I speak to your supervisor" routine and im getting the same info as before. I asked them about what you'd said and they didn't hesitate to say that that wasn't the case. I then asked if I could at least get my shares so I could transfer them to an exchange that would let me hold them and they said that they couldn't. So I think that's that?????. Again if anyone finds any new leads/info please post it!
No idea, I hope so because I just told TDripoff that was the case. LOL
Can't we say that someone that has E*TRADE is a third party and could use that for validation to say there is still value.
In the same boat, let me know if you find someone.
What I was told is it was not a level 4 activity but many people wanting to claim a tax loss just getting ride of their shares. TD bought Scottrade out. For years as Scottrade MGLG just sat there. Now they are telling me I have 60 days the get a third party to prove they have value to have them put back.
It's definitely a possibility, I'm not ruling it out trust me. Just letting the people on here know what I was told is all. Any advice on how to get my shares back would be greatly appreciated because I've been holding since '09 and was planning on holding until it either skyrocketed or I died which ever came first haha.
They are so short the ants are pissing on their heads.
Scottrade shorted as well as other brokers.
If those brokers and Hedge funds get margin calls, they will have to buy back these shares.
Sounds to me like a bunch of bull what they told you.
$$$$$ MGLG HOLDING
I called TD to see what the deal was and they told me it's getting delisted and the reason why it's still able to be held as a position on other exchanges is because of a "staggered effect" that just hasn't made its way to them quite yet. But the stock is getting delisted and my 3.3million shares are gone as well :(
Still, I have shares w ETRADE...TD no shares????????
Anyone call TD to complain. I want those shares in my account!!!!
I have shares with TD ameritrade and etrade. Yes, TD removed my shares but Etrade still has them. TD dirty prob extremely short like Scottrade was IMO.
Mine shows trades on Schwab. Get rid of TDA. Too many issues
I dont have TD mine still shows and trades sometimes
TD Ameritrade removed MGLG from my account as wothless!
I think they were into LNG. They were transporting it out of Tenn by truck or rail if I remember correctly.
MGLG
Too bad we not in LNG or even better the freighters that carry it. Until the Ukraine situation settles down and a routine shipping route and stowage is worked it, that could be where the money is! Short term anyway.
Well, if MGLG still in business, might could get pink sometime in near future. I'm seeing several per day expert market and grays going straight to pinks with current filings. Never know.
$$$$$ MGLG $$$$$$$
"European countries are actually paying to keep LNG-loaded ships nearby as onshore storage facilities are maxed out. The scramble to charter fleets of ships to carry LNG has sparked fears that many buyers will not have enough ships capable of transporting the fuel from exporters.
Demand for LNG in Europe surged by 65 percent for the first eight months of 2022 compared to the same period in 2021, the International Energy Agency (IEA) said in its third quarter Gas Market Report released on Oct. 3.
LNG shipments are now being sought from suppliers like the United States, Nigeria, and Qatar.
Europe Competes for LNG Shipments
In June, the EU imported more gas from the United States than from Russia for the first time in its history, after Moscow reduced its exports to Europe following sanctions, according to OilPrice.com.
As much as 70 percent of all U.S. natural gas exports were sent to Europe in September, up from 63 percent in August, according to Reuters.
Meanwhile, nations in Northeast Asia and South America are also beginning to charter LNG-bearing ships in preparation for the winter, adding additional pressure.
States in New England, which are dependent on LNG imports for the winter to supplement energy supplies, are being forced to compete against European buyers, Seeking Alpha reported.
The cost to charter an LNG-carrying ship in the Atlantic Ocean rose to $397,500 per day on Oct. 11, Bloomberg reported.
The new record for Atlantic LNG freight rates topped the previous record of $374,000 per day set on Oct. 3.
This is an increase of over $306,500 per day, or 337 percent, compared to the 2021 shipping rate of $91,000 per day, and a 500 percent increase since the beginning of 2022, according to Spark Commodities.
The LNG shipping price assessor said this broke last year’s all-time record high from the Pacific Ocean during the height of the supply chain crisis.
Rates are expected to rise as traders and utilities proceed to hoard more natural gas, which is presenting a hurdle to buyers this winter.
A Global Shipping Shortage
The race to buy LNG—and charter vessels to carry it—could create the next big shortage in the energy market, say analysts and traders.
LNG exporters in Asia are now selling gas directly from their ports rather than offering to ship the fuel, due to the shipping shortage.
Buyers who lack LNG transport are being forced to pay extremely high rates to ferry the fuel, or in certain cases are failing to find any ships at all.
There are few vessels left to charter through the rest of the year, and those that are still available are charging astronomical rates, according to LNG traders.
“Once you have full utilization, there’s nothing that prevents rates to go to any level, other than if freight becomes so much of the total that it kills it,” said Hafnia Tankers CEO Mikael Skov at the Capital Link New York Maritime Forum, according to American Shipper.
“There’s really no cap until the freight becomes really, really high.”
Traders report that energy majors, which typically lease their vessels to other buyers, are reluctant to do so this quarter, as they fear being caught without ships as winter gets closer.
The demand for ships globally will be driving freight rates higher, and traders say rates still have more room to climb."
Caveat Emptor. Latin for “let the buyer beware"
Anyone know when the NEW appeared after Magellan's name (see above) and what it means?
Stock Ticker Symbol
Magellan Energy Ltd New (CE)
Why does the symbol CE appear after Magellan ? Normally this stands for Call Option, but that doesn't make sense here, unless all these shares today were options. Given by whom? If so, then someone knows something. But, just guessing
This thing still has occasional volume. Would be good time to crank that gas back up!
How Much?
Volume again
LOL
Peeps gonna have to make good on all those
Counterfeit shares they sold us come phase 6.
Weeeeeee just keep HOLDING.
Nothing just more volume
Sony, what did I miss?
Thanks
Trackk.
WARNING: Stock is listed as "Caveat Emptor" on Pinksheets.com! is no longer
applicable ?
What platform is allowing it to be traded?
Last time I checked my was not allowing it (TD Ameritrade)
Good Morning. Please explain??
I am seeing it is still Expert Market
IMO YOU ARE RIGHT!!! REDHAWK
One big hit by someone
Even if it was tongue in cheek, a possibility
I like it
My Exxon post was tongue in cheek. But, if the price of NG stays high then MGLG has a lot of idle wells. My understanding is that the gas is too potent, if that is the right word, and requires extra processing. I have held millions of shares for 14 years. Old saying in pink land; they come back to life when you have forgotten them. So, who knows here? Every now and then we see this trade a few million shares, so someone is out there. GLTA
Is this real news? Magellan been bought by ExxonMobil?
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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
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
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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