Trade, trade, trade
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Should be a good week. I loaded up on Friday.
I keep checking the website, still cant order bulbs through it. It's only the 6'th, I thought I heard something about mid-December.
Anyway, Friday looked, volume-wise.
Excellent post!! I am glad I made the switch from "there" to here.
We need the latest Share info, we are due for the "quarterly" update.
From: info@magellan-energy.com <info@magellan-energy.com>
To: xxxxx, xxxxx
Sent: Fri Aug 28 16:22:34 2009
Subject: Re: Inquiry from Magellan-Energy Website
Management is issuing an update next week. While I do not know the content, it may address some of the questions you have posed.
I generally get updated on a quarterly basis -the last update that I have is as follows:
Authorized Shares: 30.0 B
O/S Shares: 17.19B
Float: 6.18B
Restricted: 11.01B
Regards,
Karen Willoughby
Investor Relations
866-365-4724
very helpful, thanks.
They typically release PRs on Tuesday or Thursday. If nothing tomorrow, then we get the dreaded Friday release before a 3-day w/e.
If they say NG production problems have been solved, but demand is low due to summer consumption and release oil prod #s we will get a pretty good sustainable pop. Anything short of that will be a head-fake pop followed by a deep spike.
IMO JP.
BUT:
A PR explaining delay (lame), but showing oil prod., triggers a pop. You and I can both agree on that.
Agree with you if no PR this week. But u r so wrong if there is one, even a mediocre one.
Stay thirsty my friend, remember we don't always drink beer, but when we do we drink XX....
Heels you seem to put a lot faith in what Karen says. I have spoken with her and emailed back and forth with her as well. I wouldn't invest a cent based on ANYTHING she says. FOr the first time however, she has committed to a PR and a date in email saying an update will be out next week. I will believe it when I see it. I do not think there will be production numbers in it. If there are, will probably be for oil not NG. However, it is entirely possible there could be prod numbers. EIther way this this is a trade. Remember we buy on rumor and sell on news. This is an investor board where investors exchange info and ideas, it seems to be your whining board.
This is a pinkie, it is a trading stock not an investment folks. the upcoming week will be a good trading week. If you want to invest in this stock, then trade away until you establish a free position and move on. It cuts down on the hysteria.
This stock is coiled and will go up on news, ANY NEWS. If the news is not so good, or if there are no prod numbers and only excuses, it will still go up, leading into the news, which is why we but on rumor.
All IMO.
My last email to Karen was specific in asking for oil Production numbers, seems like everyone forgot about those.
A well at 5bbls a day still nets a $100K a year with these prices.
Seems like everyone's DD is coming together.
I did confirm (if it hadn't been known already) that MGLG is a standing member of TOGA.
Company is now officially on the hook for committing to an update next week (at least in email to me).
News of the TVA NG powered power plant is official
Most telling: Karen has come out of her hole (this indicates to me at least, she knows relief to her nightmare is on the way).
The appearance of many new bashers began last week (always a good sign).
Let the fun begin, although I think it will happen in two stages. Stage one next week will be an update, leading to the grand finale in a few weeks. Let's roll.
Whiskey for my men, beer for my horses, yippee!!!!!
i took his message as a positive, did i I misread it?
I also received an email from them today. It said update next week...
To your point OK, may not mean much, but it shows Karen still works there, and there may be a pulse here.
I emailed that very thought to Karen yesterday. Also asked if we could get oil production numbers while we wait for NG... No response yet.
Atlas, Miller, Montello...
NOt sure, but squeezing a profit from these wells is tough. Squeezing a profit from a conglomerate of wells is much easier...
From Miller... (MILL)
Mill Con Steel Seeks Mergers And Acquisitions
BY CapIQ
— 09:06 AM ET 08/14/2009
Mill Con Steel Industries Public Co. Ltd. may look for expanding its business through mergers and acquisitions. Mr. Sittichai Leeswadtrakul, CEO of the firm said, “What I have been trying to do is to turn this ugly business into a sexy one by showing banks and others that if we manage the business and risks properly, we can capture a reasonable margin.” He added that “M&A is part of my business strategy because it's a shortcut to gain larger capacity while the competition is eliminated with great chances for operational synergies. A year on, our acquisition has proven to be a success as our sales are improving and we have gained more market share.”
Montello is all over JOhn Bower #2 looking for the "river" of black gold in little TExas
http://www.timesfreepress.com/news/2008/mar/09/looking-oil-beneath-tennessee/?local
Makes you wonder how close they can actually be to the problems if they are up in Canada and the operator is in Tennessee.
Makes you wonder if the management team is insulated from shareholder angst. The IR person is not exactly on the top of her game.
Makes you wonder if bad numbers were surfaced and they had to figure out why, where and how.
Makes you wonder if a possible acquisition is in play, Might explain the apparent gagging of MGLG.
Makes you wonder why we hold. Dang it.
That's funny...
MGLG, a trader's dream. I got into this as an investment, but have realized, slowly, this is an ATM machine. For all my disappointment in this stock, it has taught me the value of trading vs. investing.
Give me an update, give me numbers, but please, please give me a bump.
GLTA
John
Nice DD, thank you for posting.
The thing that bugs me here is that while MGLG has stated they are pumping, they never said the compressor was successful in getting the gas to the correct BTU. Therein may lie the problem.
IMO
JP
Chiefwiggim, Pennytrader, Rooner, (others) wow.
Between Yahoo and iHub the traders have come out to play. Something must be brewing. Maybe the rumors that the numbers or PR are finally here are true.
Could be an interesting week!!!!
Thanks for keeping us in the loop. Seems like the message is consistent, MGLG will put something out, if Prod numbers are not imminent. Hopefully before she goes on vacation.
P-1...
I had a 1m but at .0006 since open it hasn't filled yet. I put in a 1m but at .0007 and it filled instantly.
Not a lot of substance but this just came up. Google alert.
http://www.beaconequity.com/investment-report-for-magellan-energy-ltd-mglg/
DOn't want to shoot the messenger Gator, but that's whacked...
MGLG is a publicly traded company and has a fudiciary responsibility to its shareholders. If Karen really said that, she had better steepen her learning curve. I don't doubt that she is inundated by knuckleheads and crackpots, thats the price of being a penny stock, the door swings open for all sorts. People who are harassing her, are in over their heads, either financially or morally. On the other hand, MGLG needs to learn a thing or two about investment 101. If you re going to dilute with billions of shares, then u have to expect to accumulate many many shareholders. It is these very shareholders that pay MGLG bills, leases, bonuses, etc... in the hopes that MGLG will become profitable. In the last 6 weeks MGLG has left their shareholder base, anxious, uneasy and with many doubts. A simple PR, Letter to investors, email, conference call or any other instrument of communication puts the majority of us at ease.
The people who are harassing MGLG should stop, but MGLG needs to step up: not give us this nonsense of "you want to play hardball".... CRAZY, I hope its not true.
We are the same page. Funny thing though, no one's lost anything if they haven't sold.
Funny.
Anyway, chill Dewayne, it's Friday, enjoy your weekend. Have a few beers, lose the edge and enjoy the ride. Life's too short.
JP
Let me state my affiliation. I like this stock and this company. I have the majority of my stake as an investment and a smaller portion reserved as a trade.
MGLG appears to have a solid reputation in this industry. I have read several posts on this board from "oilmen" who are familiar with them, and if you do your DD you will find them to be clean. ie background checks, past history etc...
I see 5 scenarios...
Add or delete
In order or reality (IMO)...
1. They are in the same boat we are in "so to speak". No Prod numbers means no revenue for them and and they have to run the business. That means they could be be engaged in further acquisitions, have payroll, tax, lease demands etc and no or very limited revenue stream. They are selling shares. In this scenario they would prefer the SP to be higher as well, but they may have no choice. There are many buyers at these levels for MGLG to sell, due to impending PR, otherwise we'd be dropping like a rock.
2. The stock is trading at it's value, and this is an equal supply and demand scenario. Equal number folks buying prior to prod numbers as there are sellers tired of waiting.
3. Serious flipping and selling. I would have to assume their are as many buyers as sellers at the current time. I know I am trying to add, and I'm sure their are folks selling who are still green from the ".ooos", and folks who are flipping. In this scenario we don't move up until the buyers outnumber the sellers. SImple supply/demand move up.
4. They are buying back. I don't know where they would have the money to do so, but its a possibility. I would think we would see some upward movement though.
5. The company is buying back prior to the release of bad numbers. highly illegal and highly unlikey, but of course a possibility.
This recent volume with no upward movement makes me a little nervous. I am holding on to my 4m but i have to think they may be selling a few shares to keep things going. Either that or there are many folks flipping for .0001
Waiting for this PR sux!!!!!!
My .001 did not fill either. Had it in all day.
okay, not for nothing Spring. That was pretty Dang funny.
Great day today, excellent PR. More wells, more Gas, more $$. I want MORE shares!
It may, but remember.... OS X SP = Market cap. I have heard varying report on OS here, but lets say 7b shares. At .01 that is a market cap of $70,000,000. Need some mighty good prod and reserve numbers for that.
IMO: Anything is possible.
Thanks Dale...
I hope your timing and luck continue, for all our sake:)
Pinks don't trade after hours. YOu may be seeing the T's being added after market closes, which are "out of sequence" trades from earlier in the day.
TGC OS 59m shares after 2:1 split
MILL OS 17.7m shares
MGLG OS 11b shares?
Need some revenue numbers and a share reduction (buyback) before can compare to MILL or TGC. But like your optimism.
Still Long
JP.
Couldn't agree more.
There are investments and there are trades. This may be a little of both, but it's an investment to me...
Funny u say that. I did the same thing. There are NO negative public records on the officers of this company, that I could find.
I think the market expected a PR with numbers. Today's PR, although good, didn't give numbers, and the day traders fled. This stock is heavily day traded, and they rode the pre-PR rise, and fled after it disappointed (them). They will be back as the "real" PR gets closer.
I like this stock and see this as "accumulation" time. I know most of you are already embedded long, and are probably getting anxious for this company to be whole again. From the DD i have completed, this stock is a bargain only because of the "shut-in", and now it is back in production. Even if the prod numbers aren't HUGE, they are back in Production and that in itself is huge. So I will play catch up, and accumulate. I added 1.5m shares today and may do the same tomorrow.
MGLG leveraged the AS to sustain their operations, which is what pennies do. This is better than the flip side where companies dilute to steal. This company dipped into the AS to sustain their business. From what I can see, and read, this company has good "oil and gas" people working in it. It would be far worse to lose their people with strong skill sets and knowledge because they're shut-in, and cant make payroll or lease paymetns. So they diluted to sustain and keep their employee base and leases intact. Makes good business sense. The PPS on this stock is waiting for "real news"... Production Numbers, and I will be there to see it thru. Good Luck all...
All in IMO only. Thanks JP.
It's the float not the AS that counts. While still big, can get to a penny easily with good prod numbers...
Appreciate all the help... I have some more DD to do, but may buy in more MOnday.