MGLG - NEWS - ALERT $$$$ - TORONTO--(Marketwire - May 19, 2009) - Magellan Energ

[HotstockBull]

TORONTO--(Marketwire - May 19, 2009) - Magellan Energy Ltd. (PINKSHEETS: MGLG). I would like to thank our shareholders for the patience they demonstrated while Magellan resolved the high BTU/shut-in situation with the Thomas D. Martin and Robert Anderson Leases.

In late 2008, the federal government, through the agency FERC, mandated that any gas with a BTU count higher than 1100 is unsafe and should not be transported in interstate pipelines or sold to consumers. Gas originating from oil wells usually has a high BTU count, and this is especially true in the Burville area where the Anderson and Martin wells are located. As a result, Magellan, as well as many other area producers, had their wells shut in by Citizens Gas for the past six months.

To resolve the issue, Citizens Gas placed a large compressor in its Burrville gathering system where it ties into a 350 lb. pressure line. Citizens Gas receives its gas supply from the east Tennessee gas pipeline and from various local gas producing wells in Scott, Morgan, Fentress and Anderson counties, and will be "blending" the gas from all other wells in these counties to lower the BTU levels. All operators in the area, including Magellan's operator, TMD Energy Inc., have agreed to pay for the compressor lease.

The blending process for the high BTU gas from the Burrville system will ensure that the BTUs will not exceed the critical 1100 level. Magellan intends to sell gas through this system from both the Martin and the Anderson leases.

The long delay in resolving this issue can be attributed to a number of factors. Many parties were affected by the shut-in and each had to be part of negotiating the solution; many logistical issues had to be addressed; and in the end, the solution had to satisfy federal guidelines.

Work has virtually been completed on the wells and the production phase will commence very shortly. In order to gauge volumes, and therefore, revenues, we must let the gas run through the lines to achieve consistency in gas flow to obtain a true estimation of what is pushing through the lines. Consumption = Sales = Revenues. A meter placed on each well will measure the volume. The production must carry on for at least a week to achieve average volumes. An added benefit of gas production commencing is that the process will also increase oil production on the wells. As these values are established, Magellan will update its shareholders.

Magellan is gearing up for production at a time when the U.S. economy may have reached a turning point in the current recession, at least in some sectors and the overall outlook for natural gas seems to be optimistic. The Obama administration's energy policy hinging on reducing dependence on foreign energy, especially oil, is encouraging at a time when Magellan's natural gas and oil production is set to expand.

This is an exciting time for Magellan. While we certainly have faced challenges in our existing projects, we have worked diligently to overcome them and progress is being made on all of our properties.

We remain committed to creating shareholder value through development, efficient operations and strategic acquisitions.

Management.

[HotstockBull]

We are in Pennyland 0,02+ coming soon - GLTA

TORONTO--(Marketwire - May 19, 2009) - Magellan Energy Ltd. (PINKSHEETS: MGLG). I would like to thank our shareholders for the patience they demonstrated while Magellan resolved the high BTU/shut-in situation with the Thomas D. Martin and Robert Anderson Leases.

In late 2008, the federal government, through the agency FERC, mandated that any gas with a BTU count higher than 1100 is unsafe and should not be transported in interstate pipelines or sold to consumers. Gas originating from oil wells usually has a high BTU count, and this is especially true in the Burville area where the Anderson and Martin wells are located. As a result, Magellan, as well as many other area producers, had their wells shut in by Citizens Gas for the past six months.

To resolve the issue, Citizens Gas placed a large compressor in its Burrville gathering system where it ties into a 350 lb. pressure line. Citizens Gas receives its gas supply from the east Tennessee gas pipeline and from various local gas producing wells in Scott, Morgan, Fentress and Anderson counties, and will be "blending" the gas from all other wells in these counties to lower the BTU levels. All operators in the area, including Magellan's operator, TMD Energy Inc., have agreed to pay for the compressor lease.

The blending process for the high BTU gas from the Burrville system will ensure that the BTUs will not exceed the critical 1100 level. Magellan intends to sell gas through this system from both the Martin and the Anderson leases.

The long delay in resolving this issue can be attributed to a number of factors. Many parties were affected by the shut-in and each had to be part of negotiating the solution; many logistical issues had to be addressed; and in the end, the solution had to satisfy federal guidelines.

Work has virtually been completed on the wells and the production phase will commence very shortly. In order to gauge volumes, and therefore, revenues, we must let the gas run through the lines to achieve consistency in gas flow to obtain a true estimation of what is pushing through the lines. Consumption = Sales = Revenues. A meter placed on each well will measure the volume. The production must carry on for at least a week to achieve average volumes. An added benefit of gas production commencing is that the process will also increase oil production on the wells. As these values are established, Magellan will update its shareholders.

Magellan is gearing up for production at a time when the U.S. economy may have reached a turning point in the current recession, at least in some sectors and the overall outlook for natural gas seems to be optimistic. The Obama administration's energy policy hinging on reducing dependence on foreign energy, especially oil, is encouraging at a time when Magellan's natural gas and oil production is set to expand.

This is an exciting time for Magellan. While we certainly have faced challenges in our existing projects, we have worked diligently to overcome them and progress is being made on all of our properties.

We remain committed to creating shareholder value through development, efficient operations and strategic acquisitions.

Management.

[HotstockBull]

[b]Posted by: fn57 Geschrieben von: fn57 Date: Friday, May 22, 2009 11:44:19 PM Datum: Freitag, 22 Mai 2009 11:44:19 PM

My 30 day PPS projection: Meine 30-Tage-PPS Projektion:

Next week = over .001 on no news. N

[HotstockBull]

The Price for Oel and Natural Gas is rising UP. The pps of MGLG will rise UP at soon - $$ - GLTA - ALL IMO

[HotstockBull]

$$WATCH OUT!!! THE NEXT TWO WEEKS, MGLG WILL ROCKET, .01+, AREAL POSSIBILITY........I CANT WAIT FOR THE PRODUCTION NEWS AS OIL AND GAS PRICES GO HIGHER...

[HotstockBull]

MGLG - Pennyland is coming soon $$$$

MGLG has HUGE - Potential to 0.05+ and more

[HotstockBull]

[HotstockBull]

GENERAL GEOLOGY OF MORGAN COUNTY

Monteagle limestone is a Mississippian age formation, consisting of 200-250 feet of massive limestone with shale beds. It contains chert and has fossil-fragmental porous zones. Porosity is vulgar and normally occurs in 5 to 30 feet near the middle of the
formation. It is a consistent oil and gas producing formation. The average barrels of recoverable reserves is in the 20,000 barrels per well range. Most petroleum engineers assign 60 MMCF gas to Monteagle wells. This is based on volumetric calculations.
However, many Monteagle gas wells have produced five times this amount of gas due to natural fracturing. Other Monteagle gas wells in the area are still producing commercial quantities of gas after 30 years.

The Thomas L. Davidson Project

Thomas L. Davidson well #1 is located in the Burrville Oil/Gas Field in Morgan County, Tennessee. A participation agreement with Ky-Tenn Oil Inc., is in place. The well is currently producing, and production is expected to ramp up considerably after the company completes a work-over procedure to increase production. The well is estimated to have 100,000+ barrels of oil in reserve. Magellan recently acidized the well under extreme pressure to flush it out in order to increase production. The well was then capped or closed off and re-opened for production the next day. Magellan expects that this will increase production by 20+ barrels/day before eventually settling back down.

[HotstockBull]

MGLG -


"May 23 (Bloomberg) -- Saudi Arabian oil minister Ali al- Naimi said the price of oil will climb to $75 a barrel when demand picks up."

[HotstockBull]

Here to benefit chances of 1000 % + - 10000 % +

I Agree. We will never seen the 3's - Here are the Reasons:

With News: MGLG - KABOOM and we have 3 Days of RUNs with Target we can definetly reach to 0,05+ - MGLG has the potential, so MGLG is watching on many Big Investors, which they can without problems can buys 300 - 500 or more stocks.

MGLG - without news: Massive Buy Interests at 0.0004, so we are opening today at 0.0005 test the 0,0006 maybe the 0,0007 and goes on the sidelines constandly till News

If the company is selling shares then surely by now we have enough cash on hand to do what needs to be done to get the ball rolling.


Its hard to time this one right now but does anyone want to be chasing this super D duper sonic train

I know we have the tiger by the tail here if we can all just hang on.