Replies to post #37824 on Magellan Energy, Ltd. (MGLG)

[blackbird]

Yep, that's what I'm doing. It's unimaginable that a driller can't profit in this shale. Being from SW Pa. where a lot of gas drilling is going on, and with friends that have leased their properties to drillers, they are making huge profits in shale horizontal drilling. A typical well produces 1 mil cu ft per day - at $5.14 / thou cu ft. and on a 12.5% royalty lease agreement, a land owner can realize ~ $234,000 per year from one well!

MGLG wake up first, and then go figure what 23 wells could do!!