Pick Date: 06/13/2009 (Current price: .0014)
About MGLG
MAGELLAN ENERGY is a local exploration and production (E&P) company based in TN. The company is mainly involved in production of gas in certain part of TN. The gas are supplied to the Interstate Supply line and locally sold.
The Problem
The current problem for this company is control of hight BTU in the gas found in their wells. Because of high BTU, they cannot supply to Interstate Pipeline and thus are losing revenue on that front.
Projects
They currently have four project listed as: The Ostil Paul Project, The Pemberton Property, The Thomas L. Davidson Project , and The Martin Waterflood Project.
Future prospect
If they are able to reduce high BTU values and are able to find few prospect, they are looking for decent growth keeping in mind how they plan their future.
For Stock
It will trade between 0.0003 to 0.03 range for sometime before it run either way for better or worse .
My Gold
I would invest $300 dollar and when I get a decent return, I will take the money and will wait for another dip before I re-enter the market. I will do this few times before anything happen to them.
Make your own judgment.
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