MGLG - Magellan Energy Announces Natural Gas Production in Morgan County, Tennessee

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Magellan Energy Announces Natural Gas Production in Morgan County, Tennessee
On Monday June 1, 2009, 9:01 am EDT
Buzz up! Print.TORONTO--(MARKET WIRE)--Jun 1, 2009 -- Magellan Energy Ltd. (Other OTC:MGLG.PK - News) ("Magellan" or "the Company") is pleased to announce that it has completed connection of all gas lines from the Thomas Martin and the Robert Anderson Lease in Morgan County, Tennessee and that gas production has commenced.

This is a significant development for Magellan Energy. After much time, effort and hard work, the Company is now in a position to rapidly increase its daily natural gas production rate and make additions to its reserves. In order to obtain an accurate estimate on the daily output from both wells, gas must flow through the lines for a period of approximately one to two weeks. This waiting period will enable Magellan to get a better understanding of production, as readings will have stabilized enough to achieve a balanced, daily output count. Magellan plans further studies in order to exploit the full potential of this project.

The operators, TMD Energy Inc. will continue to work with Citizens Gas and monitor the situation to ensure there are no further disruptions.

Management believes that this is an exciting time for Magellan and its shareholders. The Company has entered the production phase on both projects and will soon realize a new revenue source. While the delays have been frustrating for the Company and shareholders, the company has successfully dealt with the high BTU issue and has connected the lines to the compressor and begun natural gas production. Magellan is well on its way to increasing revenues and value and will be disclosing production numbers as soon as they are available.

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"With the logging now complete, KY-Tenn Oil Inc., the operators of the well, have connected a natural gas line to the well and the well has resumed production for oil. The well is expected to level out at a rate of 5 BOPD. At this rate, with current market prices, the well is expected to generate gross revenues of $150,000USD per annum. Revenue from Magellan's interest is expected to payout the project in 2008 and with continual revenues in the coming years."



"HUNTSVILLE, TN- June 12, 2009- Miller Petroleum, Inc., dba Miller Energy Resources, (MILL.OB) announced today that it has completed the acquisition of certain assets from privately owned Ky-Tenn Oil, Inc., (KTO) which includes approximately 35,325 leased acres located on the Chattanooga Shale and 173
natural gas and oil producing wells."


FOR IMMEDIATE RELEASE:
CONTACT:
Scott M. Boruff
Miller Energy Resources
Phone: 423-663-9457
Fax: 423-663-9461
Web Site:
Miller Energy Resources Closes Deal For 35,325 Shale Acres and 173 Wells
HUNTSVILLE, TN- June 12, 2009- Miller Petroleum, Inc., dba Miller Energy
Resources, (MILL.OB) announced today that it has completed the acquisition of
certain assets from privately owned Ky-Tenn Oil, Inc., (KTO) which includes
approximately 35,325 leased acres located on the Chattanooga Shale and 173
natural gas and oil producing wells.
Miller CEO Scott M. Boruff commented that,