Magellan Energy, Ltd. (MGLG)

[ryno1970]

add up the land and machinery alone...plus they have maintained the fact that some of their wells have been producing oil-even if it's only at a small rate (2 barrels/day range) then they are worth alot more than their current pps shows, imo.

i recall this thing trading in the .30 range then shooting all the way to .87 before settling in the mid .30's again. so you tell me what has changed since then? just people's perception of this company-and it's mgt's fault. before bill stepped down, they went through a period last year where they didn't release any updates-i think maybe three or four months and in penny land, shareholders get impatient and bail, so the pps plummetted. i bought 1100 shares for my daughter in dec '07 for .18 and it never went up. i still see this returning to the .02-.05 range soon if the flippers don't kill it.

gl.