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Yah... Run after the stock and loose youtr potential profit. Good advise from the pros!
My site features MGLG... I tried to help you guy's, but this story is desparate.
Thanks for telling everyone how serious my game is... Now people will know I'm not just some fluff ball.
Do you want a company who doesn't publish financial statements and has over 8 billion shares?
They probably have just as many shares as Apple... Is that the connection? Too bad they don't have the revenues.
With that last pathetic news release 4's will be coming with a vengeance. Just wait until investors realize we're heading back down...
Buy 6's to flip at 7 while you wait. 5's will come... No worries about that.
Bids in at 6 to flip at 7... Then 5 to 6. History unfortunately will always repeat itself because investors never learn. Down we go!
What did I tell you guy's! 5's are next!
If we close at 7 get ready for 6's tomorrow. Deja-vu all over again!
Good question... Will someone give us an honest answer. Don't think so.
I'm not ashamed to say that I was once a fool for buying in to this lame story under someone else's advise.
Sour hour is upon us... Are we closing up or down? I say down.
Boooo! Who much does this company owe. They've had to issue billions of shares over a 6 month period just to stay a float. A little cash won't change their financial position.
Those numbers meant nothing... It was simply a carrot to get you guy's excited. We still don't know if there's a net profit coming our way. Who much debt does this company have?
We still don't know where they stand.
I think the 8 billion outstanding shares is enough to say this company has been diluted.
This is just a suckers rally. Don't expect too much.
Better finish that flip... We're going down! The news release did nothing to tell investors if there's a net profit to come or if more financing will be required. Expect investor frustration to start again.
I see the pumping game has started over again... Nice to see investor who truly believe in their company. So much faith...
Well I hope you guy's are ready to start seeing this one going down again. Better get your asks in before we hit 5's again. That's a fact!
Translation... Please buy my position.
Are you using charts to trade penny stocks... You're giving me belly aches over here. No wonder the stock is going-up. We've got ourselves a new group of lambs willing to go to slaughter.
This guy is proud to confirm what I'm saying as if what the company is doing is right! Are you a lamb?
Please be patient while more suckers buy-in. Is that your advise!
You bought at 8's... Tomorrow 6's.
I'm already giving people the heads up on multiple boards to stay away. This is simply a news release to help market makers prop the price. What did we learn... Nothing.
Where's the bucks... Details on a 25 year outlook, ahhhh what a joke! Like this will even do anything for MGLG. A bunch of generalized hogwash. I guess there's still nothing to say so they issued an email for morons.
Magellan Energy Ltd. Issues Additional Information on the Potential for the Lankford Lease
TORONTO -- (Marketwire) -- 07/22/09 -- 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.
Contact:
MAGELLAN ENERGY LTD.
Member of the Tennessee Oil and Gas Association
Website: http://www.magellan-energy.com
Phone: 1-866-365-4724
I can't believe this stock is moving up on another pathetic news release. This news release is more vague than the previous one. Where are the facts.... We still don't know if there's any money to be made. Another bunch of lambs being fleeced!
5's should be running out soon... Are you ready?
IR people only answer the phone when there's something good to talk about. It's no different in Canada, but at least we get to see financial statements in order to get a feel for what's going on. With MGLG, there's no way of doing any due diligence. Their website provides as much information as a child's personal site.
I can't speak for the investors who insist on buying shares on a losing bet. Eventually their demand for shares will disappear and the stock price will get knocked once again. 3's are a go... Just a matter of time.
The company has only been around since 04 and already they've made a mess of themselves.
Just a bit of a burp on the way down again. Get ready for 3's coming soon...
Ahhhh, Karen would probably lie to your face.
Sell at 6's and make $1200 towards your 4's...
I'd be really picky now and just wait for 3's.
Sometimes it's best just to wait for a good deal when you know nothing's around the corner to stimulate the share price. Don't run after the stock... Just wait it out. Don't fight the ticker because the ticker always wins.
That's the sound of money disappearing...
Ha Ha Ha That's a laugh. Like I've heard that over 10 times by now.