Magellan Energy, Ltd. (MGLG)

[Taxman Bill]

OLD Grey.

I agree and have posted. my experience in the OIL and GAS industry and discussiion with Petroleum Engineers, Is that RESTARTING a well is not a aimplwe click of a switch. when the weels started, the gas had to be calibrated to check BTU content per FERC, then, the flow to insure lack of H2O, etc. Hence if the well)S) produced enough gas to give us 24 million prior to shutdaownm the first month (may) was only a partial month, Production numbers would be LOWER than before shutdown, and the average poster would take that as BAD numbers, By Waiting for a FULL month (june) we have a ramped up production from Zero beginning of MAy 2009 to a more normal production by end of May. Thsi will give us a Realistic profuction INCOME stream . The expense picture needs to be addressed, Since teh Company is NON REPORTING. we do not have a income and balance sheet for many years to determine if they are profitable, When Citizens PAID f=or pumps to reduce BTUm that expensed will be passed on to MGLG. and no one knows that exact cost.

GLTA