I more than doubled up at .014 yesterday... won't make that mistake again. Picking bottoms just makes for stinky fingers in my opinion...

I hope these guys are much better at finding and producing oil then they seem to be at financing the company. Reminds me of the anecdote of the nuclear physicist who can't balance his checkbook...

My limit sell went through before I noticed the news. Got back in for half the shares I had before. Should still make out OK in the longer term, in my opinion, if we get contract news. I have so little at stake now that I will just sit on these shares and not take my investment out on a double.

Hadn't planned on selling any more shares until much higher prices some months from now, but since my portfolio size is very modest, I decided to dump my tiny holdings (30k shares) to salvage at least half the profit I built up when I discovered the drop after getting back to my computer with my lunch. Quite a lunchtime I "enjoyed" while scrutinizing my Stockcharts live chart. After doing some fresh DD and seeing the chart stabilize around 5 cents, I bought back in for 20k shares at .0509. For me, 20k is still a decent long term holding for this stock-please don't laugh all you high rollers! At least now if you count my booked profits, these are basically free shares and this thing can go to zero and I don't care anymore.

Switch brokers for Pete's sake!!! The aggravation of switching should be outweighed by the profits you WON'T miss in the future. I would have chucked them after the first time they pulled this no buy stuff. I don't understand all you folks who just complain and don't do anything else.

Any possibility, in your opinion, of a bidding war developing this week? I don't think so and have a GTC order in to sell out at .019

Sounds reasonable to me. I am hoping that between this one and CXAC, I can make up a lot of losses over the years.

Might pick up some more if it does a big retrace...

I meant that I felt the risk was low compared to the upside. Sorry.

Thx guys! This could really help me make up for some past mistakes. However, I hold a bunch of other positions so am still diversified. I learned the hard way to try my best to practice proper money management and position sizing. All those old sayings like "don't put all your eggs in one basket" are still around because they have stood the test of time.

I am only in for 1 million at .0002 and can afford to sit on this for the duration. Possibly losing 200 bucks certainly won't kill me. :)

Great risk/reward longer term IMO.

Hardest thing to do sometimes is nothing. Especially in this culture, waiting is anathema. If a stockholder in this outfit is fed up, just sell and move on.

As at least one other poster already intimated, the PR that led folks to expect a production update long before now has left me with the disturbing impression-rightly or wrongly-that the Management of Magellan Energy is somewhat lacking in experience with the some of the mechanisms and logistics involved in the interface between wellhead and market. More experience would have prevented them from seemingly taking the word of Citizens as inferred from one of Karen's communications and subsequently laying out what has been plainly shown to be an unrealistic time frame for further news. On the plus side, gas is being produced and sent to Citizens so unless their burn rate is very high, revenue is coming in to hopefully minimize further dilution. The problem now, as I see it, is a loss of credibility combined with a continuing lack of formal operational and financial reporting on a regular basis. Hopefully, they will be able to overcome these deficits and damaged reputation as income increases over the next months. All my opinion, of course.

You have roughly a quarter MILLION tied up in this? Usually folks devote no more than 5% of their portfolio capital to any one position, and I thought I was pushing it with my MGLG holdings being around 20% (2,000,000 shares). I hardly think that there are many others that have a lot more than you do. I mean, if you have 10% of your portfolio in MGLG, that would mean you are a multimillionaire right now-or you are really betting the farm on this!

Just checked on the coincidental timing of the latest crude oil price drop and the slide in Quest. We broke .02 right around the time crude broke to the downside-around 12:30 EST. A lot of folks have been anticipating a correction in crude and I think gas and coal stocks may be caught up in the downdraft as well. Just my opinion...

Thank you sir, for your efforts! Sadly, I believe we are in the midst of the most corrupted market in history and that the regulatory agencies have become no better than those in a Banana Republic. If, as I suspect, more and more Americans are turning to daytrading to make ends meet because of our joke of a job market and they are pushed to the wall by practices like naked shorting and other manipulation, the blowback will be a sight to behold! Will justice finally be done here? I still have hope that it will.

All things considered-AND I AM STILL LONG-not one penny more will be invested by me in HMGP until I get more fundamental info directly from the Company AND there develops a new uptrend in stock price. I must put new capital into energy companies that are more fully participating in the bull market for oil and gas than this one is-and most of these companies will be non-U.S. I think the move away from oil pricing in dollars will accelerate, which will put U.S. oil companies in a bind where costs will be in dollars, but oil will not be longer-term. And to be brutally honest, I will sell enough shares on the next uptrend to recover my money from the last purchase I made so as to diversify as stated above. I am convinced that a financial calamity for this country is coming, and it may be that the thing that will save many U.S. resource stock investors is being bought out by sovereign country funds or by China or even India outright. China will probably use our own dollars "against" us in that vein. I take no joy in writing this, but there it is.

12,000 shares total in street name.

Overweighted in my individual stock portfolio.

Picked up another 6k this morning at .125

At least some of these will be trading shares...

Never mind the roads-the markets seem to be turning into "Mad Max". Hemi's PPS has to at least stabilize before I put another dime on the line. I can't print money like our beloved Government...

Pump it out? He!! no! Wait until the shoulder season is over and the cycle is on the upswing. Even then, don't piss your reserves away any quicker than absolutely necessary. I have been convinced that Iran is going to be attacked before the 2008 elections. All bets are off at that point. Hemi will become very strategic, in my opinion, afterwards-if it is not nationalized outright. If it is not, it will be a money machine-again, in my opinion. I also own Canadian energy investments in case of nationalization-but then again, if the North American Union is indeed coming, then hopefully we are fairly compensated for the seizure of our companies. Best to all longs.

Oh, and I stretched a bit to pick up another 1000 at .17

I agree. Hell hath no fury like a financier scorned.

Thanks for all that legwork! I plan on continuing my share accumulation!

I got "stopped out" so to speak. I happened to be able to check the chart just after the plunge started-and this drop was so bad and with such volume, that I had to "shoot first and ask questions later" because, having to work for a living, could not spend time poring over PRs and statements, unlike most of you who evidently are either retired or do this for a living. Got back in later once I could get a handle on things-and some of you were a big help there-thanks. I have been invested in more than a few seemingly "sure things" that subsequently blew up, so I tend to be more conservative in my old age.

Given the fact that I had only enough dry powder for another 800 shares or so at .25 PPS before this happened, I am really no worse off than before. Let's hope that the next big swing is UP!

$200... approximately. No one said this would be easy.

Whipsawed. Lost 200 smacks. Ugh.

I had to have the Fidelity trader get in touch with their Reorg. department just now because they restricted ALL of my original shares plus the ones I bought on 7/24. I told the guy what was supposed to happen. Hopefully, they get things straightened out to my satisfaction soon.

I have heard that some bashers get paid for every direct reply they receive. May I suggest that if one feels they must answer a basher, do it indirectly. I hope to be able to pick up more HEMI this week. I am happy with the resilience and integrity of management here.

I bought (and am hoping to add to my position) HEMI shares for the oil and gas reserves and management. Yes, gas prices are weak for the moment, but I believe that this is a buying opportunity. I hope that the company continues to focus on developing their oil and gas reserves and only lock up oil shale (kerogen-not real petroleum) only at bargain basement prices so as not to divert too much money in that direction-at least until someone comes up with a much more economical and environmentally-friendly way of producing it. So far, it looks like they are doing this and I hope they continue this approach.

In my opinion, with the overall level of governmental corruption so rampant these days, the rule changes they have enacted so far are something to be thankful for-if they aggressively enforce them. I am long HEMI of course, but also am investigating Canadian and American resource-related income trusts, MLP's and closed-end funds because I want to build an alternate income stream for when I retire in 15 years or so. Are any of you already into this stuff?

Don't laugh guys...

I am in for 2000 so far.

fwayneh1, I'm a follower of Christ too-and hope that this speculation works out for the sake of my family and local church as well as myself, but I have learned the hard way not to "bet the ranch" on any investment-and to do ones own DD and try to be a good steward of all that God gives me. As for all needs, the Bible says: "But my God shall supply all your need according to his riches in glory by Christ Jesus" ...

Best to all PAIMers!

Don't forget that replies directly to bashers can put money in their pockets according to some accounts. If you must reply, submit a new post-DON'T REPLY DIRECTLY to one you suspect of bashing unless you like subsidizing and enabling them. Otherwise, just iggy them. I can't believe all the direct replies here. If they are getting paid by the reply, they are making a mint AT YOUR EXPENSE! Reply via a new post IF YOU MUST...

It sounds to me like if so many folks are suffering with trading restrictions at their current brokerage anyway, that they have nothing to lose by voting with their feet and taking a chance that PAIM could launch during the transfer process. I have had no problems with Fidelity so far-thank God!

Would this not really put the screws to the "offending" brokerage and help our cause?

Oh yeah, and I continue to put my money where my mouth is. I dumped my CMM and put most of the proceeds into more PAIM. I have 6899000 shares and the debenture for 270000.

Mine still has the 6/15/2011 date.

I think your broker is playing with your head.

That's my plan too. I might also buy into the TimberWest trust.

Thanks for the response!

As for PAIM, I bought 3 mil. mostly at .0001 pre-debenture and did not keep up with the forums well partially because of family health issues and so did not pick more up at .0001 post debenture. However, I do now have over 6 mil. not including debentures at .0031 avg. cost and am optimistic. Selling some at .05 to recover costs and hopefully enough at .21 to retire. We will see. Gotta have a dream!

Hi Phisherman,

Just curious... how did you get clued in to take a look at PAIV in the first place? Was there a lot of buzz about it that I just missed back in June/July? Sure would have been nice to have gotten a piece of THAT move! Sigh...