Magellan Energy, Ltd. (MGLG)

[space1230]

Magellan's alleged leases are completely irrelevant. They cannot reclaim the shell, not that they would want it anyway. They'd be out of their mind to touch it. It be like insisting that the doctor give you your gallstones in a brown paper bag after surgery. The MGLG former shell was abandoned, then hijacked, then SEC suspended. The shell would have been revoked if it was an SEC filer. MGLG is a defunct trading vehicle indefinitely. Hey, but don't take my word. Look at a calendar and count the YEARS for verification. It's virtually impossible to revive an SEC suspended grey sheet stock under non-hijack situation. But among the 1-2% that do it successfully, it must be attempted in a timely manner (like 30-60 days). In this MGLG case, a hijack situation from 2009, the chance is somewhere around 0%. No one can legally claim the defunct shell because no corporate actions could ever be performed. There is no legal owner and can never be one.

Always hope. I wonder if Magellan's Leases are still intact? Is the original entity still in business? Maybe one day they would do the right thing and reclaim this Shell. Always hope.