Magellan Energy, Ltd. (MGLG)

[4themulla]

OK here is what i have dug up. not looking good at all.

It appears to the Securities and Exchange Commission that there is a lack of
current and accurate information concerning the securities of Magellan Energy Ltd.,
which are quoted on the Pink OTC Markets under the ticker symbol MGLG. Trading in
5
the securities of Magellan Energy Ltd. appears to be predicated on apparent
misstatements. Certain persons appear to have usurped the identity of a defunct or
inactive publicly-traded corporation, initially by incorporating a new entity using the
same name, and then by obtaining a new CUSIP number and ticker symbol based on the
apparently false representation that they were duly authorized officers, directors and/or
agents of the original publicly-traded corporation.

The Commission is of the opinion that the public interest and the protection of
investors require a suspension of trading in the securities of the above-listed companies.
Therefore, it is ordered, pursuant to Section 12(k) of the Securities Exchange Act
of 1934, that trading in the above-listed companies is suspended for the period from 9:30
a.m. EDT on September 23, 2009, through 11:59 p.m. EDT on October 6, 2009.
By the Commission.
Elizabeth M. Murphy
Secretary