Magellan Energy, Ltd. (MGLG)

[Colworth]

I think the delay has something to do with Citizens or TMD getting a contract for the TVA Nuculuar Plant. If even the slightest hint of TVA is in the PR, this will skyrocket. And for everyone saying there is no demand for Natural Gas right now, do your DD on TVA... They do not even have enough Natural Gas to even get this up and running. For the life of me... People that say there is no demand have done NO research. Hmmm, TVA looking for LOCAL PRODUCERS to supply the plant from Chattanooga Shale. Go and read our PR from July 22nd and tell me there is no connection.

A RECENT REPORT on the Chattanooga shale reserve potential (soon to be available on our website) confirms the Company's own due diligence and its subsequent participation in the project with its partner, TMD Energy.


A new TVA power plant in upper East Tennessee could spur natural gas exploration on the Cumberland Plateau. The Rogersville plant needs 10 times the natural gas produced in the state right now, and TVA is trying to help ramp up drilling. Because of the potential held in a gas formation called the Chattanooga shale, TVA’s Blake Baxter says he believes local producers could supply the plant if they had financing for exploratory drilling.

http://wpln.org/?p=10405