Magellan Petroleum Corp. (MPET)

[otcinvestor82]

What article? Link?

[dshade]

some grabbed dip after SA article

[stocktrademan]

Magellan Petroleum Corp. [$MPET] due diligence

bullish

$MPET

DD Notes ~ http://www.ddnotesmaker.com/MPET

##### recent news/filings ~ source: finance.yahoo.com

Thu, 12 Jun 2014 10:05:00 GMT ~ Magellan Petroleum to Present at GHS 100 Energy Conference and the ROTH Resources Corporate Access Day
[Other] - Magellan Petroleum Corporation announced today that the Company will be presenting at the Global Hunter Securities GHS 100 Energy Conference to be held in Chicago, Illinois, at the JW Marriott hotel on......
read full: http://finance.yahoo.com/news/magellan-petroleum-present-ghs-100-100500230.html
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Thu, 12 Jun 2014 10:00:10 GMT ~ MAGELLAN PETROLEUM CORP /DE/ Files SEC form 8-K, Regulation FD Disclosure, Financial Statements and Exhibits
read full: http://biz.yahoo.com/e/140612/mpet8-k.html
*********************************************************

Thu, 05 Jun 2014 10:05:00 GMT ~ Magellan Petroleum to Present at EnerCom's London Oil & Gas Conference
[Other] - Magellan Petroleum Corporation announced today that the Company will be presenting at EnerCom's London Oil & Gas Conference™ 6 to be held in London at the Cavendish London hotel on June 10-11,...
read full: http://finance.yahoo.com/news/magellan-petroleum-present-enercoms-london-100500765.html
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Thu, 05 Jun 2014 10:00:23 GMT ~ MAGELLAN PETROLEUM CORP /DE/ Files SEC form 8-K, Regulation FD Disclosure, Financial Statements and Exhibits
read full: http://biz.yahoo.com/e/140605/mpet8-k.html
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Tue, 03 Jun 2014 19:56:00 GMT ~ Why Magellan Petroleum (MPET) Stock Is Up Today
read full: http://www.thestreet.com/story/12732337/1/why-magellan-petroleum-mpet-stock-is-up-today.html?puc=yahoo&cm_ven=YAHOO
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##### chart ~ source: stockcharts.com



##### chart ~ source: eoddata.com



##### company info ~ source: otcmarkets.com

Link: http://www.otcmarkets.com/stock/MPET/company-info
Ticker: $MPET
OTC Market Place: Not Available
CIK code: 0000061398
Company name: Magellan Petroleum Corp.
Company website: http://www.magpet.com
Incorporated In: DE, USA

##### extra dd links

Edgar filings: http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000061398&owner=exclude&count=40
Latest filings: http://www.otcmarkets.com/stock/MPET/filings
Latest financials: http://www.otcmarkets.com/stock/MPET/financials
Latest news: http://www.otcmarkets.com/stock/MPET/news - http://finance.yahoo.com/q/h?s=MPET+Headlines

Major holdings: http://data.cnbc.com/quotes/MPET/tab/8.1
Insider transactions (1): http://finance.yahoo.com/q/it?s=MPET+Insider+Transactions
Insider transactions (2): http://www.secform4.com/insider-trading/MPET.htm
Insider transactions (3): http://www.insidercow.com/history/company.jsp?company=MPET

RegSho: http://www.regsho.com/tools/symbol_stats.php?sym=MPET&search=search

DTCC: http://search2.dtcc.com/?q=Magellan+Petroleum+Corp.&x=10&y=8&sp_p=all&sp_f=ISO-8859-1
Spoke company information: http://www.spoke.com/search?utf8=%E2%9C%93&q=Magellan+Petroleum+Corp.
Corporation WIKI: http://www.corporationwiki.com/search/results?term=Magellan+Petroleum+Corp.&x=0&y=0
WHOIS: http://whois.domaintools.com/http://www.magpet.com
Alexa: http://www.alexa.com/siteinfo/http://www.magpet.com#
Corporate website internet archive: http://web.archive.org/web/*/http://www.magpet.com

Short Sales: http://www.otcmarkets.com/stock/MPET/short-sales
Insider Disclosure: http://www.otcmarkets.com/stock/MPET/insider-transactions
Research Reports: http://www.otcmarkets.com/stock/MPET/research
Historical Prices: http://finance.yahoo.com/q/hp?s=MPET+Historical+Prices
Basic Tech. Analysis: http://finance.yahoo.com/q/ta?s=MPET+Basic+Tech.+Analysis
Company Profile: http://finance.yahoo.com/q/pr?s=MPET+Profile
Key Statistics: http://finance.yahoo.com/q/ks?s=MPET+Key+Statistics
Industry: http://finance.yahoo.com/q/in?s=MPET+Industry
Insider Roster: http://finance.yahoo.com/q/ir?s=MPET+Insider+Roster
Income Statement: http://finance.yahoo.com/q/is?s=MPET
Balance Sheet: http://finance.yahoo.com/q/bs?s=MPET
Cash Flow: http://finance.yahoo.com/q/cf?s=MPET+Cash+Flow&annual
Market Watch: http://www.marketwatch.com/investing/stock/MPET
Bloomberg: http://www.bloomberg.com/quote/MPET:US
Morningstar: http://quotes.morningstar.com/stock/s?t=MPET
Bussinessweek: http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?ticker=MPET
Barchart: http://www.barchart.com/quotes/stocks/MPET
OTC Short Report: http://otcshortreport.com/index.php?index=MPET
Investopedia: http://www.investopedia.com/markets/stocks/MPET/?wa=0

http://www.pennystocktweets.com/stocks/profile/MPET

##### last known share structure ~ source: otcmarkets.com

Market Value: $99,767,160 a/o Jun 30, 2014
Shares Outstanding: 45,348,709 a/o Nov 06, 2013
Float: Not Available
Authorized Shares: Not Available
Par Value: 0.01

##### business description ~ source: otcmarkets.com



DD Notes ~ http://www.ddnotesmaker.com/MPET
tnpc

[@MomoPicks]

Bounce with Me! :)

[ChicagoGolfer12]

Pos

[jfboston]

I hear ya. I found this by scanning for breakout charts. I bought on 4/14 at 1.53 and sold at 2.08. Then got back in friday at 1.91. Not sure what to do though, the chart looks so bullish and i want to hold, but at the same time I don't know how long this will last.

[joeflop]

In for a flip.. but so far so good.

[Akuma]

Where's everyone...making huge profits within last couple weeks. Lol

[Tagflora]

Way more to come with all that's going on in Montana, way more.

[aetosellinas]

Very strategic move today. Very cost efficient and will eliminate a large overhead.

Investment here will flourish with time without a single penny dropped by Magellan.Central will move forward and expect to see milestones ahead as well.
PS CTP in Australia trading over .43 now, do the math and add the 20 million.
Much more to come, tip of the ice burg here...

Pursuant to the terms of the Sale Deed, the AUD $15.0 million of consideration in the form of Central stock will result in the issuance of approximately 39.5 million shares of Central on the Completion date, representing an approximate 11% pro forma ownership in Central's common stock as of today's date.

[eom7]

Why?

[aetosellinas]

New highs and more to come folks
Hold on, this'll get very interesting the next few weeks

[jonQ]

Agree, significant move in both price but more important, volume. I think MPET is still very undervalued given their cash position and land lease portfolio.

One day this company will be acquired by a major just Canada Southern Petroleum was.

[Sammypt]

Very nice movement here today! Looks like nobody has really been following this company. Shame.

[otcinvestor82]

Loss per share increasing on an l4l basis.

[Sammypt]

Funding: The estimated cash cost of the pilot, including capital and certain operating expenditures and the cost of CO2 over two years, will total approximately $20 million, with most of these expenditures incurred by March 2014. The pilot will be funded by the Company's existing cash balances and the proceeds of the Company's convertible preferred equity issuance to One Stone Energy Partners completed in May 2013

[kentcrek]

There is HUGE potential!
Poplar Field

In the United States, Magellan owns Poplar, an oil field located in Roosevelt County, Montana. Our acreage position covers substantially all of Poplar Dome, the largest geologic structure in the western Williston Basin whose layer cake structure provides multiple formations with hydrocarbon resource potential.

The field was discovered in the 1950s by Murphy Oil, who actively explored and developed the Charles formation for two decades. By the time Magellan acquired Poplar in 2009, technological advances in oil and gas exploration allowed us to reevaluate Poplar's known formations and to discover new ones.

Magellan's current objectives are to prove up the potential of Poplar's various formations and to establish the viability of a CO2-Enhanced Oil Recovery project in the Charles formation, in which the substantial volume of oil in place offers Magellan a chance to significantly increase its oil reserves.
Location

Poplar, located in the Williston Basin, lies at the western edge of the Bakken oil play, one of the most active exploration and development areas in the world. Poplar's location is in close proximity to two oil pipelines and one gas pipeline. Currently, our oil production is sold into the Clearbrook market.

In the Rocky Mountain region, an infrastructure network for the supply and transportation of CO2 exists and continues to be developed by various parties. This network contributes to the feasibility of developing additional oil reserves from the Charles formation at Poplar via a CO2-Enhanced Oil Recovery project.

For further information on Poplar's location, please click on the tabs above the map below.


Back to Top
Acreage

Poplar, as the Company defines it, is composed of a 100% working interest in the oil and gas leases within the East Poplar Unit ("EPU"), a federal exploratory unit in Roosevelt County, Montana, totaling approximately 18,000 net acres, and the working interests in various oil and gas leases that are adjacent to or near EPU ("Northwest Poplar" or "NWP") totaling approximately 4,000 net acres.
MapOur interests within EPU include a 100% operated working interest in the interval from the surface to the top of the Bakken/Three Forks formation (the "Shallow Intervals") and an operated working interest below those intervals ranging from 50% to 65%, which include the Bakken/Three Forks, Nisku, and Red River formations (the "Deep Intervals"). VAALCO Energy (USA), Inc. ("VAALCO") owns the remaining working interest in the Deep Intervals. Our interests within NWP are all operated and are the same as within EPU, except in certain leases in which the Company and VAALCO collectively own less than 100% of the working interest.

As a Federal Exploratory Unit, EPU is held entirely by production from any one well within its boundaries. As such, Magellan effectively faces no mandatory expenditure requirements to maintain this acreage, and we have full flexibility in allocating our capital to the highest value-enhancing projects at Poplar.Back to Top
Geology

Poplar dome is the largest geologic structure in the western Williston Basin whose layer cake structure provides multiple formations with hydrocarbon resource potential. As of 2013, the vast majority of production has come from the Charles formation, supplemented by some oil production from the Tyler.

Other formations at Poplar offer the possibility for commercial oil and gas production, including the Judith River, Greenhorn, Piper, Amsden, Bakken/Three Forks, Nisku, Red River, and Winnipeg formations. Please rollover the below stratigraphic column for information on individual formations. Please click on the 3-D tab in the below chart to see an illustration of our 3-D reservoir model.

[otcinvestor82]

Well to drill these holes they need funding, either debt or dilution. I prefer debt and equity when share goes up after finding smth. Hope, hope....

[kentcrek]

Magellan Petroleum Initiates CO2-EOR Pilot at Poplar Dome, Montana

Aug 12, 2013


DENVER, Aug. 12, 2013 /PRNewswire/ -- Magellan Petroleum Corporation ("Magellan" or the "Company") (NASDAQ: MPET) today announced that on August 2, 2013, the Company obtained permits from the US Bureau of Land Management to drill five wells on its leases at Poplar Dome ("Poplar") in Roosevelt County, Montana. These permits represent the final regulatory requirement prior to commencing drilling operations for the Company's previously announced CO2-enhanced oil recovery ("CO2-EOR") pilot program.

The Company also announced today that it has recently signed a CO2 supply contract with Air Liquide Industrial U.S. LP for the CO2 necessary to conduct the Company's CO2-EOR pilot program for approximately two years. Air Liquide is the world leader in gases for industry, health and the environment.

As previously announced, the Company intends to conduct a CO2-EOR pilot in the Charles formation at Poplar to increase production and validate the reserves potential of this tertiary recovery technique on a full-field basis. With drilling permits obtained and a CO2 supply secured for the pilot program, the Company has begun drill site preparation work, and drilling is expected to occur between August and November of this year. The Company's current plan is to arrange the five pilot wells in a "five-spot" pattern, with a single CO2-injection well in the center surrounded by four producing wells. All five wells will be vertical and drilled to a depth of approximately 5,800 feet. CO2 injection is expected to commence in October 2013. From the time of first injection, the Company expects that it will take between 12 and 15 months to evaluate the effectiveness of CO2-EOR and announce conclusive results from the pilot. The estimated cash cost of the pilot, including capital and certain operating expenditures and the cost of CO2 over two years, will total approximately $20 million, with most of these expenditures incurred by March 2014. The pilot will be funded by the Company's existing cash balances and the proceeds of the Company's convertible preferred equity issuance to One Stone Energy Partners completed in May 2013.

J. Thomas Wilson, President and CEO of Magellan, stated, "After more than two years of extensive engineering, modeling, and laboratory work, we are very excited to begin the process of proving the technical and economic viability of CO2-EOR at Poplar. With the results of the CO2-EOR pilot in 12 to 15 months after the start of CO2 injection, we hope to demonstrate that the implementation of a full-field CO2-EOR program at Poplar could result in the recovery of approximately an additional 50 million barrels of oil. Based on our own work, the production history of the field to date, and reference to analogous CO2-EOR projects in the Williston Basin, we believe that the Charles formation at Poplar has 500 to 600 million barrels of oil in place and the recovery of an incremental 10% of this amount is an achievable objective. As such, bringing Poplar to a full field CO2-EOR development is the Company's top priority, and conducting a safe and successful pilot is the next milestone in our strategy of unlocking shareholder value from this asset."

CAUTIONARY INFORMATION ABOUT FORWARD LOOKING STATEMENTS
Statements in this press release, including forecasts or projections that are not historical in nature, are intended to be, and are hereby identified as, forward-looking statements for purposes of the Private

[kentcrek]

The field they are currently testing is the second largest field of shale to be discovered. They are on the edge but still should have a very good flow and they own a good chunk of the surrounding property. I can't put a figure on it,but it could be substantial. Check their web site it is North Dakota. I also like they try to keep the debt down.

[otcinvestor82]

Can u elaborate? How big?

[kentcrek]

They are on the second biggest find in history in North D. this has to be big!

[radar72]

I'm in!! Bought some today...

[TheFinalCD]

Magellan Signs Long-Term Gas Sale Contract for Dingo Field in Northern Territory, Australia






Magellan Petroleum (NASDAQ:MPET)
Intraday Stock Chart

Today : Thursday 12 September 2013
Click Here for more Magellan Petroleum Charts.


DENVER, Sept. 12, 2013 /PRNewswire/ -- Magellan Petroleum Corporation ("Magellan" or the "Company") (NASDAQ: MPET) today announced that on September 12, 2013, the Company through its indirect subsidiary, Magellan Petroleum Corporation (NT) Pty Ltd ("MPNT"), signed a gas supply and purchase agreement (the "Dingo GSPA") with Northern Territory Power and Water Corporation ("PWC") for the long-term sale of gas from the Company's Dingo gas field. Pursuant to the Dingo GSPA, the Company has contracted to supply up to 31 PJ (30 Bcf) of gas to PWC on a 100% take-or-pay basis over a 20-year supply period. The Company's supply obligation is expected to begin in early calendar year 2015 at a fixed price escalating with Australian CPI. The Dingo GSPA has been approved by the boards of directors of both PWC and Magellan. The Dingo GSPA is subject to certain customary conditions, including the Company successfully obtaining all regulatory approvals and constructing facilities necessary for commissioning the Dingo field for commercial gas production.



With this long term contract now in place, the Company will use the time before the commencement of gas supply to design, construct, and commission the surface facilities and tie-in pipeline necessary for the production and delivery of Dingo's gas. Currently, the Company is undertaking the front-end engineering and design ("FEED"), which is a continuation of work performed during the pre-FEED stage in fiscal year 2013, and which is expected to take approximately six months to complete. Gas volumes are expected to be produced from three wells drilled at Dingo in the 1980s and 1990s, two of which have since been temporarily shut-in, and which are expected to be capable of producing gas volumes sufficient to meet the delivery requirements under the Dingo GSPA. Concurrently with the FEED work, the Company will be applying for various regulatory approvals necessary for constructing the Dingo facilities and pipeline and commissioning Dingo for commercial gas production. The Company expects to receive all approvals by the summer of 2014 and intends to begin construction of the pipeline and facilities immediately thereafter.

J. Thomas Wilson, President and CEO of Magellan, stated, "Contracting for the sale of a substantial portion of Dingo's gas resources is yet another milestone achieved in our strategy of proving up the value of the Company's assets. Dingo's reserves potential was established nearly 25 years ago through a four-well exploratory program, but, with no customer, the field has since been left dormant. We will work vigorously to achieve the regulatory approvals and commissioning of Dingo as quickly as possible, and we look forward to working once again with PWC, who has been a valued customer of Magellan at our Palm Valley gas field over the past three decades.



"We believe we have now achieved the key milestones of our strategy for our Amadeus Basin assets, onshore Australia: we completed an asset swap with Santos in September 2011 to consolidate our interests in Palm Valley and Dingo and received $25 million in cash, we contracted most of Palm Valley's remaining gas reserves to Santos in September 2011 under a long-term contract, and now we have contracted up to 30 Bcf of Dingo's gas reserves with PWC. Following on the Company's initiation of the CO2-EOR pilot program at Poplar announced on August 12, 2013, we remain focused on executing the other key milestones of our strategy to increase net asset value per share."

[otcinvestor82]

The UK shale plays could be worth a lot. Check out igas listed on London stock exchange. Has has a good run after shale drilling was given go ahead in the UK and GS forecasted that the reserves are game changer.

[Penny Roger$]

$MPET ~ Daily Par Sar Buy Signal ~ Criteria alert triggered during a recent trading session!

$MPET has just triggered the "Parabolic SAR Buy Signals" scan criteria at Stockcharts.com
~ http://tinyurl.com/SAR-BUY ~







For a more in Depth study and DD profile, similar to the one contained in this link: ~ http://tinyurl.com/DDexample ~
Click the following link and type ticker or brief message asking me about the DD: ~ http://tinyurl.com/GET-THE-DD ~

What does the scan "Parabolic SAR Buy Signals" mean? Below is an image example and study link.
~ http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:parabolic_sar ~


To find other similar posts of "MPET" utilize the links that follow.
Search MACDgyver's "Parabolic SAR Buy Signals" posts: ~ http://investorshub.advfn.com/boards/msgsearchbymember.aspx?searchID=251916&srchyr=2013&SearchStr=ParSarBuyScan ~
Search MACDgyver's posts for symbol "MPET": ~ http://investorshub.advfn.com/boards/msgsearchbymember.aspx?searchID=251916&srchyr=2013&SearchStr=MPET ~
Search Ihub for "MPET" posts: ~ http://investorshub.advfn.com/boards/msgsearch.aspx?SearchStr=MPET ~


For more in depth training and information visit Chartschool on the Stockcharts page.
~ http://stockcharts.com/school/doku.php?id=chart_school ~


Also don't forget the Ihub Edu Channel.
~ http://investorshub.advfn.com/boards/education.aspx ~


c

[Penny Roger$]

~ $MPET ~ Daily Par Sar Buy Signal ~ Criteria alert triggered during a recent trading session!

$MPET has just triggered the "Parabolic SAR Buy Signals" scan criteria at Stockcharts.com
~ http://tinyurl.com/SAR-BUY ~







For a more in Depth study and DD profile, similar to the one contained in this link: ~ http://tinyurl.com/DDexample ~
Click the following link and type ticker or brief message asking me about the DD: ~ http://tinyurl.com/GET-THE-DD ~

What does the scan "Parabolic SAR Buy Signals" mean? Below is an image example and study link.
~ http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:parabolic_sar ~


To find other similar posts of "MPET" utilize the links that follow.
Search MACDgyver's "Parabolic SAR Buy Signals" posts: ~ http://investorshub.advfn.com/boards/msgsearchbymember.aspx?searchID=251916&srchyr=2013&SearchStr=ParSarBuyScan ~
Search MACDgyver's posts for symbol "MPET": ~ http://investorshub.advfn.com/boards/msgsearchbymember.aspx?searchID=251916&srchyr=2013&SearchStr=MPET ~
Search Ihub for "MPET" posts: ~ http://investorshub.advfn.com/boards/msgsearch.aspx?SearchStr=MPET ~


For more in depth training and information visit Chartschool on the Stockcharts page.
~ http://stockcharts.com/school/doku.php?id=chart_school ~


Also don't forget the Ihub Edu Channel.
~ http://investorshub.advfn.com/boards/education.aspx ~


c

[treeshaker]

I don't understand, Magellan Petroleum on the New York Times went from a Hold to a buy from rating analyst. I'm seeing everything else reading hold MPET.

[treeshaker]

Sorry, wrong word I mean to say "major instill of manger".

[treeshaker]

Every analysis I check said hold MPET. I did more dd and ask question with some of the most diligence investors and traders, they tell me to hold also. That Mpet is one of those company that get a big spike and really run, some say especially if good profit reporting comes from anyone of the manger oil and gas refine companies. I will check and see which of the manger oil and gas Corp will soon be reporting next quarter.

glta.

[Timothy Smith]

Will be very interesting to see how things develop.

[treeshaker]

Yes, positive cash flow to sustain MPET until they get the right buyer for the Petroleum. Finally good news. It is about time. They gave a time frame in their pr.

[Timothy Smith]

@Fa$t - I think this one has legs to do very well over the next few months however it still faces many challenges.

Magellan Petroleum (MPET) filed its 10-Q on February 11. Given the recent positive developments since the first of the year, one might have expected to have seen some exciting Q4 results. Unfortunately, the developments are quite worrisome.

Negative Cash Flow

Magellan initiated a substantial (17% of the outstanding shares of common stock) share buyback in January, despite having a negative cash flow. Not only did Magellan have a negative $9 million cash flow from operations in six months ending December 2012, but there was a net decrease of $9.5 million in cash over the same period.

While a share buyback is usually the sign of a healthy company returning value to shareholders, the circumstances suggest that management's decision was not the best use of available cash reserves.

Poor EBITDAX

Quarter over quarter, Magellan had a declining (and negative) EBITDAX. EBIDAX declined from negative $2.8 million in Q4 2011 to negative $3.0 million in Q4 2012. In addition, EBITDAX fell from a loss of $4.7 million in H2 2011 to a loss of $6.7 million in H2 2012. While one might expect a low or negative EBITDA from a primarily exploration based company, by taking out exploration expenses, one can see that a larger problem exists.

Declining Production Volumes

The change in production levels for both oil and gas has been startling year over year. Yearly sales volumes of oil have declined from 53.3 Mbbls in 2011 to 35.91 Mbbls in 2012 (a decrease of 33%). In addition, sales of gas declined from 403.03 MMcf to 102.32 MMcf (a decline of 75%). Baring a substantial divestiture of unprofitable operations, such dramatic decreases in production are intolerable. Without stable (or better, increasing) production volumes, the cash flows (which are already poor) will have nowhere to go but down if energy markets operate within reasonable price projections.

[Penny Roger$]

~ $MPET ~ Parabolic SAR Buy Signals ~ Criteria alert for last trading session!

$MPET has just triggered the "Parabolic SAR Buy Signals" scan criteria at Stockcharts.com
~ http://tinyurl.com/SAR-BUY ~







For a more in Depth study and DD profile, similar to the one contained in this link: ~ http://tinyurl.com/DDexample ~
Click the following link and type ticker or brief message asking me about the DD: ~ http://tinyurl.com/GET-THE-DD ~

What does the scan "Parabolic SAR Buy Signals" mean? Below is an image example and study link.
~ http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:parabolic_sar ~


To find other similar posts of "MPET" utilize the links that follow.
Search FaStlane's "Parabolic SAR Buy Signals" posts: ~ http://investorshub.advfn.com/boards/msgsearchbymember.aspx?searchID=251916&srchyr=2011&SearchStr=ParSarBuyScan ~
Search FaStlane's posts for symbol "MPET": ~ http://investorshub.advfn.com/boards/msgsearchbymember.aspx?searchID=251916&srchyr=2011&SearchStr=MPET ~
Search Ihub for "MPET" posts: ~ http://investorshub.advfn.com/boards/msgsearch.aspx?SearchStr=MPET ~


For more in depth training and information visit Chartschool on the Stockcharts page.
~ http://stockcharts.com/school/doku.php?id=chart_school ~


Also don't forget the Ihub Edu Channel.
~ http://investorshub.advfn.com/boards/education.aspx ~

[MightyMac]

MPET: Piggy Bank for Directors? Does anyone else think management is overpaid? I've been a MPET investor since about 1967. I go back to when Mereenie oil was first discovered. I held MPET through resolving aboriginal claims, building an Alice Springs refinery, Palm Valley gas discovery and building a pipeline to Darwin etc. For what return on investment? Officers and Directors have come and gone. It seems each group wants to over pay management and sign long term contracts with management that makes it expensive to get rid of them. When there was a management dispute, I called one of the dispute participants who told me I owned more MPET stock than most if not all directors. I checked it out and he was right. Now the sweetheart deals management votes for each other gives me an impression they overpay each other with cash and give bonus and stock option money to each other without earning the value of it. They talk about building investor value, but then give each other so much stock it dilutes the value of those of us who invested and held company stock for decades while the stock value has fallen. Heck, I even borrowed money in the 1970's to buy more at $13 per share only to see it fall immediately while I repaid the loan. The stock is undervalued based on cash in the bank and other assets. However, it has always been that way and then management has managed to pay themselves so much as overhead there has not been anything paid to stockholders. The company seems to exist to serve management rather than management serving stockholders. I'd like to see the management team cut in half, the gross income of remaining management cut in half, employment contracts for terms longer than a year eliminated, and no stock incentives issued unless the exercise price is triple the price when the option is issued instead of to be exercised near the issue price . THEN they would have true incentive to produce for us outside investors. Then I'd buy more MPET instead of becoming so disillusioned I sold most of my stock to prevent it wasting away even more.

[hillzman]

Another "odd" day for MPET (and LEI) with substantial late-day advances. Whatever the reasons, nice to see a bit of solid green!

[hillzman]

Interesting day with markets down and MPET green. AH over 25k shares @ .92 up .03 so what gives...maybe some good
news "seeping" out???

[Honolulu Trader]

Buying The Pain Of Others Today

In at .92 for 1/3 position.Hope she test the 52 week to add more.


Blood in Streets can be very rewarding for some.

[hillzman]

It appears STTX was just trying to get MPET's cash for half price and pass out crappy shares of their own "company". It would be nice to see a reasonable buyout offer from a larger player. Barring that, I think longer term prospects are good given increases in oil production.

[Ron52]

I took a position to really hoping for the buyout

[Jimmy777]

I took a position in MPET this week and will begin following MPET more closely and posting accordingly.

Good luck to the longs!

[Timothy Smith]

Yeah I really like the company and it is a buy out candidate in my opinion but not by this group lol. Unless I'm missing something....

[hillzman]

For sure, and not an offer I'd take! But it did accomplish the perhaps (never know about those "meetings") contrived result of bringing attention to MPET...LOL. And the sp is holding about 30% above prior levels. I've followed MPET for years, and am finally liking what I see with their emphasis on oil production and recent increases. They've also got quite a bit of cash so makes them attractive perhaps as a takeover/buyout target.

[Timothy Smith]

Additionally $STTX has no money and no financial backing publically disclosed so the fact they offered cash in the first place is funny. Additionally why would you trade stock of a NASDAQ for a Pink Sheet. Seems highly suspicious.

[Timothy Smith]

I don't know about that. This offer is a joke at best.

Magellan Petroleum Comments on Announcement by Stratex Oil & Gas Holdings, Inc.

Aug 28, 2012 7:50:00 PM
DENVER, Aug. 28, 2012 /PRNewswire/ -- Magellan Petroleum Corporation (NASDAQ: MPET) ("Magellan") today commented on the unexpected announcement earlier today by Stratex Oil & Gas Holdings, Inc. (OTCQB: STTX) ("Stratex") that Stratex had made an offer to acquire Magellan for $2.30 per share in cash and stock, which announcement was included in a tender offer statement filed by Stratex with the U.S. Securities and Exchange Commission.

Magellan notes that the Stratex letter to Magellan referred to in the Stratex announcement, which was hand delivered to Magellan on August 27, 2012, was the first communication of any kind from Stratex to Magellan following a brief initial introductory meeting among certain executives of Stratex and Magellan in the Spring of 2012.

The Magellan Board of Directors has not yet had the opportunity to review the Stratex letter with Magellan's financial and legal advisors, but will do so as soon as reasonably practicable. Accordingly, Magellan believes that the shareholders of Magellan should not take any action at this time in response to the Stratex announcement.

CAUTIONARY INFORMATION ABOUT FORWARD LOOKING STATEMENTS

Statements in this release which are not historical in nature are intended to be, and are hereby identified as, forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. These statements about Magellan may relate to its businesses, prospects, and other matters that involve a number of risks and uncertainties that may cause actual results to differ materially from the results expressed or implied in the forward-looking statements. Among these risks and uncertainties are: (i) whether Stratex will actually pursue a transaction with Magellan; (ii) whether any transaction with Stratex will be agreed to by Magellan as being in the best interests of Magellan's shareholders; (iii) whether Stratex will pursue a tender offer directly to Magellan's shareholders; and (iv) those set forth in the Risk Factors sections of Magellan's most recent 10-K and subsequent 10-Qs filed with the SEC.

ABOUT MAGELLAN

Magellan is an independent energy company engaged in the exploration, development, production, and sale of crude oil and natural gas from currently held assets in the United States, Australia, and the United Kingdom. Traded on NASDAQ since 1972, the Company conducts its operations through two wholly owned subsidiaries, Nautilus Poplar LLC, which owns interests at Poplar, a highly attractive oil field in the Williston Basin, and Magellan Petroleum Australia Limited, a successful independent oil and gas company in Australia and the UK in existence since the 1960s. The Company's mission is to enhance shareholder value by maximizing the full potential of existing assets. Magellan routinely posts important information about the Company on its website at www.magellanpetroleum.com.

[hillzman]

The STTX offer opens the way for possible counter offers and/or a more reasonable valuation for MPET. I see the legal vultures are out and about, but after all, this is just an offer and thus hasn't been accepted. In today @ $1.29 and given MPET's 52 week range not a lot of downside IMO.

[Timothy Smith]

Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On July 16, 2012, William H. Hastings resigned from the Board of Directors of Magellan Petroleum Corporation (the “Company”). Mr. Hastings tendered his resignation in connection with the Company's decision to discontinue his employment with the Company as Senior Advisor for Business Development, effective as of that date. Pursuant to the terms and conditions of the previously reported Employment Agreement between Mr. Hastings and the Company dated February 3, 2009, as amended by the addendum thereto dated September 27, 2011, the Company is required to pay Mr. Hastings two years' severance compensation as a result of the Company's decision to discontinue his employment with the Company and Mr. Hastings' decision to resign from the Board of Directors.

[biomanbaba]

When this deal is done it ought to pop the shares

"The Australian mining industry is seeking alternatives to the costly diesel oil currently used in most mining operations," continued Mr. Wilson. "Palm Valley's proximity to mining operations enabled Santos to enter into a long-term supply agreement and illustrates the current attractiveness of the Australian market for natural gas. Our goal is to directly enter into a similar agreement with a blue-chip mining customer for Dingo's natural gas resources, and we are actively pursuing such negotiations."

The share price has been cut in half while the CASH on the Balance sheet has expolded.......WTF....value players will show up here soon

[Penny Roger$]

This has a nice weekly here... Not perfect but nice imo.

[Penny Roger$]

~ Monday! $MPET ~ Earnings posted, pending or coming soon! In Charts and Links Below!

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