Replies to post #32987 on Magellan Energy, Ltd. (MGLG)

[FtpBandit]

If anyone here really thinks they don't know the flow numbers... I have some ocean front property in AZ I would like to sell you.

That would be the first thing the company would want to know after it was flowing. And I don't want to hear any BS about having to wait 30 days. They know the numbers and just don't want them out there. However it would be a good time to start calling Citizens and asking questions. At this point we should be ready to become a thorn in their asses. We have waited what I feel is long enough and they are toying with the OS and it seems when we start yelling they release some kind of PR.

[momoney272]

They know the numbers by know its been over 2months when it was to be 1 to 2 weeks surely they are being kept from us for a unknown reasons.Karen claims about being bothered by phone calls,well give out the truth and stop being a untruthful Beyatch.

[jwtrader]

I posted this on Tuesday and was told that it would be illegal. I really think this is what is going on. They have been holding on to the PR for weeks now so that they could buy more at a lower price. If they continue to reduce the o/s, I really don't have a problem with it. The more they are able to reduce the o/s, the more valuable our shares will be when they finally release the numbers. Also, if they are really buying back shares, it is a good sign for the rest of the shareholders.

Posted by: jwtrader Date: Tuesday, August 04, 2009 4:50:55 PM
In reply to: OldGreyBeard who wrote msg# 32769 Post # of 32989

Thoughts on this scenario?

1. They need to raise some money, so they dilute.

2. They finally have the numbers, and they believe that the numbers are good.

3. Before they release the numbers, they need to do something about the amount of shares that exist.

4. They hold off on releasing the numbers to drive the stock price down further.

5. Once the price gets low enough (around .0005 to .0006), they begin buying shares. Have you noticed the huge chunks of shares that have been bought once or twice per day for the last 3 weeks?

6. Once they have bought back enough shares, they finally release the numbers.

Seems logical to me.

[lookoverthere0]

Not according to Karen.

But doing what you described would constitute a pretty big SEC violation and would bring the Feds down on them like rain.