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steeledge

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steeledge

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Thursday, 01/17/2013 9:46:44 AM

Thursday, January 17, 2013 9:46:44 AM

Post# of 83010
MPET Nice share repurchase news. I like this type of news; can often lead to a big pop when overhangs are removed.

Magellan Petroleum Announces the Repurchase of 17% of its Common Stock

J. Thomas Wilson, President and CEO of Magellan, stated, "This transaction is a significant milestone in our path to deliver value to our shareholders. We have succeeded in buying back a substantial amount of our own stock at an attractive price. At the same time, we have eliminated the overhang from the warrant, which could have had a significant dilutive impact on our share value and shareholders.

http://finance.yahoo.com/news/magellan-petroleum-announces-repurchase-17-110000974.html

Solid DD combined with timeliness and conviction is a recipe for profits.

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